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Short Term Loans

Borrow from a few months, quickly and simply

I'd like to borrow:

Amount to borrow:

For how many days:

Lending Works - Short term loan

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Minimum age  18

Representative Example: assumed borrowing of £1,000, over 12 months at a fixed interest rate of 2.3 % p.a. with a Rep APR of 24.8 %, 12 monthly payments of £93.78, total amount repayable of £1,125.36. The actual rate you receive may differ from the Rep APR shown and will depend on your personal circumstances and financial status.

Likely Loans

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Representative Example: Borrowing £2,000 over 24 months at Representative 59.9% APR and Interest rate 59.9% p.a. (fixed) with monthly repayments of £131.05 and a total amount payable of £3,145.20.

Everyday Loans

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Minimum age  18

Representative Example: Borrowing £3,000 over 2 years at an interest rate of 67.9% p.a. (fixed), you will repay 24 monthly payments of £231.78 per month. Interest payable £2,562.75. Total amount payable £5,562.75. Representative 93.6% APR. Rates from 24.2% to 299.9% max APR.

Savvy.co.uk

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Representative Example. Borrow £1,250 - 15 monthly repayments of £166.66. Total cost of credit £1,249.90 which is £1,249.90 interest at 122.96% pa fixed. Total amount repayable £2,499.90. Representative 231.4% APR.

Loans 2 go

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Minimum age  21

Representative example: If you borrow £600 over 18 months at a flat rate of 205.2% per annum (fixed) with a representative 989.9% APR you will make 17 monthly payments of £135.93 and 1 payment of £135.99, repaying £2,446.80 in total.

Mr Lender

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Minimum age  18

Representative Example: Borrow £400 for 6 months, repay with 6 payments — payment 1: £162.66, payment 2: £146.46, payment 3: £130.57, payment 4: £114.67, payment 5: £98.47, payment 6: £82.57 . Rate of interest 0.80% per day on outstanding capital. Total repayable £735.40 (based on 30 day periods). Interest rate 292% per annum (fixed). Representative 1244.20% APR.

Ferratum

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Bank account with salary credit needed

Minimum age  18

Representative example: APR 1270% if borrowing £400 for 4 months. Interest: £265.48. Interest rate: 292% p.a. (fixed). Total amount repayable: £665.48 by four instalments of £166.37. Maximum representative APR: 1604% if full loan repaid after 7 days.

247Moneybox

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Terms & Conditions

Please remember, no legitimate lender will ask for any upfront fees

Make sure you meet the following criteria:

UK resident

Bank account with salary credit needed

Minimum age  18

Representative Example: Total amount of credit £80, duration of the agreement 29 days, rate of interest 292% per annum (fixed), total amount payable (in one repayment) £98.56.

warning

Warning: Late repayment can cause you serious money problems. For help go to moneyadviceservice.org.uk

Pros

Cons

  • An option for those with low credit ratings
  • The process is simple and fast
  • Longer periods than payday loans: up to a year
  • Repaying it on time can quickly boost your credit score
  • You will get credit checked
  • Higher interest rates than longer-term loans
  • The amount you can get is limited
  • Debt can add up quickly if you don’t repay it on time
Question icon

Is A Short Term Loan The Right Option For Me?

You can borrow for up to a year, and pay the loan back with greater flexibility, whereas payday loans have a set date usually on the next payday for repayment.

Personal loans usually range from one to five years. Because a short-term loan is shorter, the interest rate charged is much higher - and missing a repayment could increase the loan by a lot more.

No, the application process is free.

Borrow the absolute minimum amount you need to avoid the risk you can’t pay it back, as interest charged is much higher than a personal loan.

Usually you get a decision within minutes, during normal working hours, but occasionally if you apply at the weekend you will hear back on Monday.

Some lenders offer a soft check first. It’s worth checking on each lender’s website before you apply.

If you make too many applications for credit it will appear as a footprint on your credit report and can lower your credit score. Being declined itself won’t affect it - but several applications will.

Yes. These loans are designed for people with poor credit. However, there are minimum requirements for eligibility.

You need to be over 18 and usually in at least part time employment, with no CCJs (County Court Judgement) in the last 12 months and you can’t be in an IVA (Individual Voluntary Arrangement) or debt management plan at the present time.

You usually get the funds within two hours of approval.


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