Introduction

Most of the times when you are in the need of money to sort out your financial problems, you need the cash urgent. Friends, family and even your own savings may not fulfill your demand when you need cash the most and in those cases of urgent financial crisis, a loan may do the trick for you. To help you in this urgent need of hour, a one hour payday loan may offer you all you want.

These are super fast loans and are granted within one hour from the time you apply for the loan and also these loans are secured against you next salary, so you do not have to plan especially to pay off these loans.

Availability

One hour payday loans are available online and it is the online availability which makes them so fast. You generally apply for these loans online by filing up a form on the moneylender’s website and also furnish other relevant details. Then, your loan application is processed and if you qualify the required criteria, you are granted with the loan amount within an hour.

Statistics

One hour payday loans are extremely short term loans with the repayment duration in the range of a week to a month at the most. The loan amount available with these loans may be up to £1200 starting from £100. The interest rates for these loans are very high and for a loan amount of £100 you can be charged £25 for a period of 30 days. Thus, the annual interest rates are in hundreds of percent.

The repayment duration for these loans can be extended for three days and then for further subsequent intervals, but this is not advisable unless an absolute must, because you are charged a hectic fee for that.