SWBA Loans

How to Know If You're Eligible For a Twelve Month Loan?

For every type of loan, there are certain conditions that you have to fulfil in order to be eligible. These conditions will be thoroughly checked by the lending agency and if you fail in just one you won't be able to apply for a loan.
Conditions, of course, vary from one loan type to anyone and from one lender to another, so it's always important to get yourself well acquainted with what is expected of you. Before you apply for a loan, you should take some time to familiarize with the lender's requirements. Most of them will have these on their website, but if they don't you can always ask them.
When it comes to twelve month loans, the conditions for eligibility are very simple and there are only a few of them.
First of all, since these loans are only available in United Kingdom, you need to be a citizen there. You don't have to be born in the UK, just to have a permanent residence and citizenship.
Next, twelve month loans are not available for underaged. That means that you have to be at least 18 years old in order to be eligible for them.
Another condition is that you are employed. Since these are unsecured loans, they will go against your paycheck. Because of this, you need to have a regular paying job and have to earn a minimum of £1000 per month.
Finally, you need a valid and active bank account. This is where the lender will deposit the money a few short hours after your application has been approved.
If you fulfil all of these requirements, you can proceed to the next step and that is making the loan application.