Instalment Loans – Please fill a few details below to apply for your instalment loan:

Instalment loans are  still quite easy to get although they do differ from the pay day loan structure. Instalment loans are a quick solution to emergency financial problems and could help you out of a fix. If you are not fortunate enough to have access to a large bank balance or a healthy credit card, an easily available instalment loan could be the solution for you. You can access the loan even if you have a bad credit rating and no collateral, and you don’t even need a co-signer. In most cases the money you need could be in your account within 24 hours of application.

Longer Time To Pay

The crucial difference between a pay day loan and an instalment loan is the length of time you have to pay back the money. Payday loans are normally paid back in full within a short amount of time. This may not be a good option for you if you are really feeling the pinch. An instalment loan is paid back over a longer period of time with scheduled payments and so it is easier to cope with. The re-payments will be spread out and be in smaller more manageable amounts.

Understanding Instalment Loans

It is a good idea to understand the structure of repayments and how much you will be expected to pay in interest charges. The longer you require to pay back the loan the more expensive it will be. The usual increments of pay back time are 14, 30 and 90 days. It will really benefit you if you can aim to pay off the loan within 14 days but don’t over stretch yourself. Its best to make sure that you can make each payment to avoid additional fees. Instalment loan approval normally takes about one hour after which the the lender will transfer the money into your account. You will usually be able to access the money on the next business day.

Credit Challenged Borrowers
Instalment loans are generally available to those of us with a poor credit rating although you will need to have a bank account and have a provable income stream. You may also need to provide information about how you obtained a poor credit rating, but this is not always the case. Instalment loans are for people who have little or no collateral and are credit challenged, so it is a good idea to apply whatever you think your chances are.

Instalment Fees

Fees will differ from each lender but the usual rule of thumb for instalment loans was that the fee would be charged at the beginning of the loan agreement. Many companies advertise a no initial fee structure but of course the charges will be included in the interest repayments further down the line. As the loan is taken out for a longer period than a pay day loan the total amount paid back will be higher but the payments will be more manageable. The quicker that you are able to pay the loan back the less you will have to pay. If you are searching for an instalment loan on-line then it would be wise to do your own price comparisons but this could prove to be a confusing task. Gimmedosh.com will send your application to a selection of lenders that will offer you the best deal. There are also credit unions that could offer cheaper solutions but you will probably need a longer time to apply and get your money. Either way borrowing money is an expensive business especially if you have got a bad credit rating. But as soon as you start to make your payments on time you will begin to build up your credit score again. If you want to boost your credit rating then a good place to start is by looking at http://www.experian.co.uk/. You can test your credit score here and find out how to improve it.

Click here for payday loans instead.

 

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Representative Example A £150 loan borrowed for 20 days would be repaid by a single payment of £180 which would be the total amount payable.
Representative 2692.8%APR. Rate 365.25% per annum fixed.

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