Instalment loans offer breathing space and flexibility by allowing you to repay from 1 to 60 months in equal monthly instalments.
Many people like instalment loans because you are able to get money upfront to pay for an urgent bill or important purchase and then have several months or years to pay it off. You also have the option to clear your account early if you want to, and you will only be charged for the days that you have the loan open, so you will usually save money in the process.
To apply for instalment loans online, simple click on ‘apply now’ and complete our application form in less than 5 minutes. Badger Loans will give you an almost instant decision and if successful, you will be able to receive funds within 1 hour or on the same day you apply.
What Products Are Available with Badger Loans?
Payday loans – This is where you receive the money upfront and repay on your next payday from work. This used to be a one-month loan, but this has now extended to 3,6 and 12 month loans
Personal loans – These are used for personal, everyday purposes and are better suited for those with good credit scores borrowing larger amounts up to £25,000. Loans are repaid from 1 to 60 months.
Am I Eligible?
You must be:
- Over 18 years of age
- Full-time UK resident
- Employed and able to afford repayments
- Stable monthly income
- Valid UK bank account
- Valid UK mobile number and email
How Do Instalment Loans Work?
Instalment loans are repaid in small, monthly instalments, rather than one large repayment like a payday loan. The main benefit is that you are able to spread repayment over a longer period of time, giving you time to get your finances in shape.
For those with existing bills or debts to consolidate, instalment loans can help you pay them off, since you receive the money in one lump sum. You then have several weeks and months to pay off your loan and eventually get yourself into a stronger financial position.
Instalment loans repayment example:
Loan amount: £500 for 12 months at £79.09 per month. Total amount repayable of £949.08. Interest: £449.08. Interest rate: 140% p.a. fixed*. 278% APR Representative. Rates between 9.9% APR and 1295% APR.
Can I Apply for Instalment Loans for Bad Credit?
Yes, we work with a number of instalment loan providers who are willing to offer loans to people with bad credit histories. You will need to have stable employment, have a regular income and not too many other loans outstanding. The benefit of instalment loans means that to accommodate those with adverse credit, the loan duration can be stretched for longer to offer lower repayments.
Can You Get Instalment Loans with Direct Lenders?
Yes, Badger Loans works with direct lenders, so when you apply through our website you will be matched with a direct loan provider who will process your application from start to finish. This includes the funding, collection, customer service and more.
There are no upfront fees involved and you have peace of mind knowing that we have selected the lenders on our panel based on their commitment to responsible lending.
How to Apply Online with Badger Loans
Click on ‘apply now’ and you will be able to complete our online application form in just a few minutes and receive an almost instant decision online. You will be matched with one of the lenders from our panel of up to 30 providers and you can then choose whether you would like to proceed.
There may be some further checks involved and you may be required to provide proof of your income through a payslip or bank statement. If you have passed all the relevant checks and have been successful, you can usually get your instalment loan transferred to your bank account on the same day.