Unsecured short-term loans are usually called as payday loans or payday advances. You need not to show any property or bank accounts as the security of the loan. A person having a reliable source of income can easily get such loans within a few hours from applying for the loan. Rainbow group provides payday loans; you can apply for it from your desktop or smart phone via the internet. They have effective applications which will help you to apply from your smart phones. A payday advance is very fruitful in case of utility bills late payments.
How it saves:
Consider the following calculations: 15 pounds fee for 100 pounds payday advance, it means around 400 percent APR. 26 pounds late fee for 100 pounds credit card balance, it means around 700 percent APR. 50 pounds reconnect/late fees for 100 pounds utility bill, it means around 1300 percent APR. Considering the above facts it should be clear that why a payday loan can be a good alternative financial solution. In case of utility bills you can save a significant amount by taking the loan and paying the bills in time. Here you should remember that you will get only a few weeks or days to repay the amount, usually on the next payday.
You can apply from your smart phones:
Rainbow group has developed proper applications for different smart phones like iPhone, BlackBerry, Android devices etc. The application will make the whole application task easier for you. It has also options to keep the information that you inserted for later use. Next time when you will fall in a financial crisis, which can be solved with a thousand pounds; just a few clicks or taps will be needed to apply for the loan. If all of your information are accurate and acceptable to the Rainbow group you will get the money within a few hours into your bank account. Hence consider such a situation where you have forgotten to pay the utility bills, you have only one or two days time to pay the bills but your next payday is several weeks away. A payday advance or loan can solve the problem immediately.
Why it is better than other loans in urgent cases:
Yes, there are many loan options which will give you larger amounts with lower interest rates for larger terms. In those cases, you will have to fulfil more requirements and have to pass lengthy processes. Such loans are good for long term planning or business deals, but not for those cases which need instant cash immediately. To solve urgent financial problems that are within a thousand pounds or dollars or a little more a payday advance can be the best loan type. However, it is not good for long term planning. However, if lesser fees or no fees are taken such loans can be helpful in disaster management. In many countries, there is a limit in the APR of the payday loans. You can check it whether your one is within the limit or not.