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Personal Loan FAQs

Am I Eligible to Apply for a Personal Loan ?

 

There are a few basic things that are checked as well as the deeper ones. To know if you are eligible can you answer yes to the following question

Can you afford the repayments?

 

How Long Does it Take for a Personal Loan to be Paid Out?

 

The application time scale may vary per applicant. This is due to financial views being done on everyone applying for a personal loan. The average pay out timescale is 5 to 7 days. This will be received directly into the specified bank account.

 

200 Loans

Life can get you to a tight spot sometimes and you’ll get short on funds. You’d find yourself financially unstable with bills and urgent expenses piling up. What’s worse is when your salary is way off and it would seem like it isn’t always enough. Fortunately, there are small, short-term loans you can take out quickly when there’s no one else to turn to.

An increasing number of people are demanding loans that are designed to quickly provide small amounts of cash. Examples of these loans are 200 loans. Whilst 200 loans feature a higher APR than that of bigger, longer-term loans, these loans are designed to be repaid very quickly, so you won’t have that burden for a long time. Therefore, even if the APR seems to be ridiculously high, as long as you repay it in the time agreed, these loans are not as expensive as you may think.

why choose 200 loans

About 200 Loans

Small as it may seem, 200 loans are quite handy. These loans are dedicated to cover immediate or unexpected expenses, just enough to fill in the gap between paychecks.

Repayment for these loans are usually set in a very short period such as two weeks or four. However, in some cases, they can have longer terms like three months, depending on the capacity of the borrower to pay.

Since 200 loans are small in quantity, they’re unsecured type of borrowing. This means that you aren’t borrowing against any of your personal valuables such as your home, vehicle or other assets.

Small, short-term loans like 200 loans are growing fast in the recent years. They are increasingly available online and on mobile phones, which enables lenders to provide convenience and quick access to those in desperate need of small, but instant cash.

200 loans also bridge the gap in the market for those who simply cannot take out a loan through the mainstream banks because their credit scores are too low. Also, most banks and traditional lending won’t allow you to borrow small amount loans.

200 Loans in the UK

Anything you can borrower for over one to three years is a type of short-term loan in the UK. Anything payable beyond three years is labeled as long-term loan. Long-term loans can even stretch out for three decades.

However, you can also find small, short-term loans such as 200 loans, that are payable in just two to four weeks. They are often referred to as payday loans or quick cash. They are the type of short-term loans in which you pay back in a one-time payment or when you get your next paycheck.

Online installment loans are also popular 200 loans in the UK. You can get the money into your bank account quickly, sometimes within a couple of hours after getting an approval. Transaction is done all conveniently online from the comforts of your own home or office.

Benefits of 200 Loans

It is common among people to opt for small, short-term loans such as 200 loans. Although the loan repayment duration depends on the type of loan, 200 loans usually provide the duration that suits your ability to repay and your own personal circumstances.

Nobody wants to carry the burden of a loan for many years. A lot of people would prefer small, short-term loans now a days because they’re easy to settle. Take into account how long-term loans have its repayments for the most part of your life. And, lenders responded to this need by providing smaller and shorter loan options.

If you suddenly find yourself with an extra expense that you feel you cannot avoid, 200 loans are your true saviour. 200 loans will help you cover any personal or emergency expenses between paychecks such as urgent repairs, medical emergencies or education bills, and even an urgent trip.

200 loans are also a viable option for people who don’t get regular work and need something to tide them over until their next paycheck. Even those who are unemployed or suddenly lost their job can benefit from 200 loans.

If you have a low credit score, it is most likely that you cannot get a regular loan from banks. But, you can definitely rely on 200 loans offered by nonbank financial institutions. If you qualify for 200 loans, look at it as a chance for you to improve and rebuild your credit rating.

200 loans are quite useful especially when your financial status is weak. With 200 loans, you can make repayments in a few weeks only. It will save you from burdening your finances for so many years as such with long-term loans. 200 loans are best recommended for those without regular jobs and could not afford yet large, long-term loans.

Moreover, with 200 loans, you are actually paying less interest than on longer duration loans. Although lenders tend to charge higher interest rates on short-term loans like 200 loans, the total cost is actually lesser. At the end of the loan term, you pay less total cost as compared to longer duration loans, which though may have lower rate of interest and smaller monthly repayments.

Conclusion

When a financial emergency hits you, 200 loans are available just about anywhere to help you. If you want a loan that allows you to pay it back in shorter period, take out 200 loans. These loans are best for urgent expenses, especially when you have no savings or not enough funds on hand.

However, take time to look for other alternatives that would best suit your current situation before deciding to take out a loan. Never forget to compare the terms and rates of different types of lenders, and contemplate on whether it suits your financial concern or not, as they vary from lender to lender.

Before accepting a loan, ask about the details of the loan including the interest, fees, and other features of the loan. Do not make rush decisions. Make repayments on time and do not miss any. If you have a poor or bad credit rating, you’ll eventually improve it by being prompt in making your repayments.

why choose 200 loans

 

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Loan amount
£1,000 - £5,000
Loan term
12 - 60 Months
CUSTOMERSCORES
Good
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Loan amount
£50 - £600
Loan term
1 - 6 Months
CUSTOMERSCORES
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5 most recent personal loan reviews

Review of Vivus

I have never used a loan company due to my poor credit following a marriage breakdown but using this company with a good friend who trusts me to make the payments has been a very pleasant and extremely quick and simple process. So if you need to borrow, have someone who knows and trusts that you wont let them down with making the payments and has a good credit history then don't hesitate .. Contact Vivus Loans

Review posted by John Sutcliffe

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Somerset Savings and Loans

I found the online application easy and straight forward, and had a very quick response from the customer service team. Once accepted, the money was transferred very quickly. I will defiantly recommended and will use if ever needed in the future.

Review posted by Alexandrine Parry, Guildford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Lendable

From the initial contact everything was so simple. Friendly consultants who phone and text at your own convenience. One quick phone call and the cash was in the bank the next day! Perfect service! ?

Review posted by Deborah Tomlinson

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All of our reviews have been sourced from TrustPilot to ensure authenticity.

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)
Please note:
Loanovao is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.
Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances
Warning:
Late repayments can cause serious financial issues. For help, go to moneyadviceservice.org.uk
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