Representative Example: Amount of credit £ 1000 for 12 months.
Total amount to be repayable £ 1957.20 Interest £ 957.20
Monthly Repayment £ 163.10 Interest rate 147% Fixed
We offer a simple 1 - 6 month loan which is repaid over instalments of 1 - 6 months period. This option offers customers greater flexibility because they can spread their loan repayment over a longer period of time. Our instalment loan is different type of a payday loan. We provide the option of being able to pay small instalments over a 1 - 6 month period, which could help you manage your finances better.
Approved FinanceUK is an online lender offering instalment loans. With a competitive rate of 299% APR we are cheaper than other payday lenders in the market. Borrowers can take out up to £500 for their first loan and this can increase to up to £2,000 for repeat customers who meet our affordability check. Customers repay their loans in equal instalments over a 1 - 6 month period.
We lend to our customers in good faith and we expect the full repayment to make on the agreed repayment date. If you are unable to make the full payment on time it is imperative that the customer informs us in advance. We will promise to be fair to you in such circumstances and will offer you a payment alternative to help keep your credit score unaffected. We will not charge you unreasonable fees for defaulting or harass you if your account is in arrears. Our collections policy is fair and we will give you adequate time to remedy your default.The customers must be UK residents in order to be eligible for a loan and they must be employed and living in the United Kingdom during the loan period. A payday loan UK will include Wales, Scotland and Ireland and the funds will be transferred in pounds sterling.
We would like to outline you always need to be sure you can afford to repay a short term loan on the due date before you take out a loan, this will save you a lot of hassle and extra costs. In the event of a default we may refer your loan to our Debt Collections Partner. Please note that we might charge you with other reasonable costs that have incurred as a result of you missing payments and pursuing you for payments due under the loan agreement including our reasonable legal costs.
ApprovedFinanceUK is here to help you find cash for those occasional short term cash flow problems. Just request the amount you want to borrow £;100 - £2000, and we aim to have your cash to you as soon as possible. We provide flexibility in helping you cover those short term needs but ensuring you can afford to repay the loan back with your current commitments. We carry out a strict AFFORTABILITY Test's for all customers. We take responsible lending very seriously. Therefore, loan candidates must meet the below criteria to apply. We also undertake a number of credit checks to ensure the suitability of our candidates.
Minimum 20 years of age UK resident Take home a minimum of £;350 per month