Instalment Loans for Bad Credit

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What are instalment loans?

In simple terms, an instalment loan for bad credit is where you take out a sum of money and repay it back to the lender with interest in a fixed number of repayments.

The amount which that you repay is agreed before you accept the loan. You can agree to repay weekly or monthly depending on the type of instalment loan you require.

Traditionally these instalment loans were the preserve of car loans and mortgages in other words loans of a larger amount. But it is now more common for people to seek short term loans quickly of a lower amount paid over a period of months or maybe years which are unlike payday loans that are paid off over the period of a month.

Many Direct lenders are now prepared to office short term loans over longer periods than traditional payday loans of one month.

Apply For Your Short Term Loan Here

Applying is Free and No-Obligation

What are the benefits of instalment loans?

In the past, the only funds which people had access to during an emergency were payday loans which meant the money had to be repaid within 30 days or the following month whilst this was fine for very small loans it was not so great for some.

The benefit of a short-term loan paid in instalments meant that there is less pressure in needing to repay the loan in one go after a month. Instalment loan repayments can be repaid over multiple months which people find is much more manageable and giving you the time to repay the money.

Instalment loans mean that there is a lower chance for you to miss a repayment and helps you manage your finances better and prevent any late payment charges which mean this helps your credit score.

Annual interest rate of 292% (Fixed)

For example:

£200 borrowed for 35 days

Annual interest rate of 292% (Fixed)

Total amount payable is £256

1212% APR Representative

Can I get an instalment loan with bad credit score?

Lots of direct lenders now offer different types of short-term loans even if you have bad credit you can still apply for the short-term loan.

In the past, many people struggled to be approved for short term loans with bad credit but nowadays bad credit is not the obstacle it once was due to direct lenders no longer use the old method of relying purely on a person’s credit score to determine their ability to repay a loan. Lots of direct lenders look at other parameters like your employment status, how long you have been with your employer, residential status if you are a homeowner even if you are registered to vote.

More people with bad credit are now able to get instalment loans because more direct lenders are more likely to lend since they now look at a wider range of factors to determine your suitability.

The lender does not base their decision on a bad credit score any more and now fewer people are prevented from getting an emergency loan when they really need it. With our panel of lenders, you are more likely to find an instalment loan regardless of bad credit.

We are along with our panel of lender are all authorised and regulated by The Financial Conduct Authority. Our direct lenders will always be as transparent and completely open with you regarding every aspect of the instalment loan. We always recommend you always read the terms and conditions so you will be safe in the knowledge there will be no charges or additional fees you were not expecting.

What do I need to apply?

Applying for a loan is straightforward and is all online.

Before you start your application have this ready:

Details of your regular monthly income and outgoings

Mobile phone number

Valid email address

Home address for the last three years

Your Bank account

Your Debit card information

Woman Applying for short term loan

Fast, Free & Easy No-Obligation Application Process

1

Choose Loan Amount & Term

Simply chose how much you wish to borrow and over how many months you wish to repay the loan

2

Fill in the Application form

Fill in our simple application form which takes only a few minutes and then apply for your loan

3

Receive Your Cash

We send your application to our panel of lenders, once approved you will receive the funds directly to your bank account

Why choose Cashute

Authorised by the Financial Conduct Authority

Fast Online Application

No Payout Fees

No obligation quote

No paperwork

100% UK Based

Very High Acceptance Rates

No Hidden Costs

The right bad credit loan for you

Cashute is an appointed loan introducer meaning that we work with a wide range of lenders that we can help to match your application for a payday loan.

Rather than spending all day looking for one lender after another where the possibility of your loan application being declined by some due to bad credit rating. Being declined will, in turn, cause your credit rating to decrease further, let us do the searching for you. Who needs the stress during an urgent financial emergency to be looking around hoping to find the best deal?

Our panel of direct lenders specialise in bad credit payday loans to you have a better chance of finding the right one in less time offering a quick loan.

Remember that Cashute is an appointed loan introducer and not a direct lender, and as such we are unbiased in our approach to matching your situation to the best short-term payday loans.

All the direct payday lenders on the panel are fully authorised and regulated by The Financial Conduct Authority.

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Over 50 Lenders

No paperwork

Flexible repayment

Instant decision

No Credit Foot Print

Fast Deposits

How do I apply for the best payday loan?

To apply a loan is simple, collect your bank details. Provided you meet the criteria listed below you can start your application process:

  • 18 years old
  • UK resident
  • Hold a UK bank account
  • Employed with a regular salary (so you can repay the money that you borrow).
  • Bank details to hand

Once completed, submit the application form by clicking on the “Apply” button and wait for a response from one of our direct lenders. As soon as we find the best match for you, this should not take long.

When you receive the loan proposal can decide if you wish to proceed with an offer. If you do want to proceed with the loan just apply and the funds will be deposited into your bank account within hours. Always remember that you can apply with no obligation even if you have bad credit as many direct lenders support payday loans bad credit.

I am finding handing my debts difficult, what should I do?

If you find yourself in difficulties and are unable to make your repayments. We strongly advise that you contact your creditor immediately, we also recommend that you speak to the companies listed below.

moneyadviceservice.org.uk
stepchange.org

Benefits of Instant loans

The biggest benefit is, of course, the ability to respond to an unexpected event with a lump sum of cash. But, compared to other types of credit, there are other benefits to applying for a short-term loan through Cashute:

  • Funds in your account within the hour (hourly payouts between 6am-11pm)
  • Pay back your loan in manageable installments
  • You don’t need a guarantor
  • Borrow from £100 to £5000 (subject to affordability)
  • Loans can help to build up your credit rating

Should I apply for an Instant loan?

Depending on your circumstances, you should apply if:

  • Have an unexpected expense needing a lump sum
  • Would like to replace tired or worn out furniture or items at home
  • Need a quick decision at that moment
  • Do not want to take out a payday loan
  • You wish to repay your loan by monthly instalments
  • You like the peace of mind knowing exactly how much you will have to repay each month

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