Online loan applications all the rage
(16 December 2005)

The number of online applicants for internet loan products is soaring, according to a new report, as Brits experience renewed confidence in applying for services such as payday loans over the internet.

Data from Sainsbury's Bank and Gfk Financial shows that, between June this year and June 2006, 4.8 million people will have completed a financial application online – an increase of 23 per cent on the statistics for the previous 12 months.

An increase in high-speed internet connections, a growing awareness of internet security and the simple fact of the web's 24-hour availability have all been cited as major reasons for this rise.

Kevin Barrett, director of e-commerce for Sainsbury's Bank, said: "The web plays a crucial role in the financial services industry, helping to provide customers with a convenient way to manage their finances.

"Society now operates 24 hours a day, seven days a week and as such the 9am to 5pm traditional banking model is being left behind."

This increased level of confidence is reassuring when you apply for a payday loan. What's more, you will receive your cash within 24 hours of placing your online order, therefore taking advantage of a service which is both safe and quick – and one which won't saddle you with the longer-term commitments demanded by other products.



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