Short term loan

Short term loans or tide-over loans are loans that are repayable over a short period. They are usually for a relatively low value, under £1,000.

There are two main forms of short-term loan. The first type is a loan that is taken out over a matter of days or weeks, often then repaid on payday or when pension or benefit payments come in. The other sort is a loan taken out over a series of months, but generally less than a year.

Short term loans are often used as a cash advance loan and can enable borrowers to borrow and repay quickly getting them out of cash flow problems.

Short term loans can be very useful if an individual receives an unexpected bill and has no other means to settle it.

As with all short term or low value loans it is vital to meet the repayment schedule to reduce the amount of interest you pay.

	Derbyshire BS cuts personal loan rate to 5.1 per cent The Derbyshire Building Society has cut the rate on its personal loans between £7,500 and £10,000 to just 5.1 per cent taking it back to the top of the best-buy tables along with the Clydesdale.
	Clydesdale Bank cuts loan rates to leap to top of best-buys The Clydesdale and Yorkshire Bank has cut the rate on personal loans between £7,500 and £15,000 to 5.1 per cent beating the Tesco Bank deal to go to the top of the best-buys.
	Sainsbury's Bank cuts personal loan rate to 5.4 per cent Sainsbury’s Bank has cut the rate n personal loans for Nectar card holders to just 5.4 per cent for people who borrow over a one to three-year term.
	M&S unveils best-buy personal loan rate at 5.5% Marks & Spencer has launched a new personal loan for applicants who want to borrow between £7,500 and £15,000 over a 1-5 year period at just 5.5 per cent.
	M&S Bank cuts personal loan rate to 5.8% M&S Bank has announced that it is cutting the rates on personal loans between £7,500 to £15,000 to just 5.8 per cent.