Instalment loans are loans that are paid off over time with a specified number of scheduled payments. Generally, at least two payments are made towards the loan. Choosing an instalment loan is one of the simplest
Unsure if you’re eligible for an instalment loan?
Here at PM Loans our eligibility standards are simple, applicants must:
- Be over 18 years old
- Reside in the UK
- Be employed (in some circumstances other forms of income may be considered)
- Meet the affordability and credit checks that we and our lenders’ request
If you’d like to discuss the eligibility criteria or have further questions, don’t hesitate to get in touch!
Can I get an Instalment Loan with Bad Credit?
Having a good credit score is an important factor in the application process of getting an instalment loan. However, not all lenders consider this factor to be extremely crucial. To your benefit, PM Loans take your affordability and circumstances into account. Therefore, you have a higher possibility of receiving your instalment loan.
How much can I borrow?
You’re able to borrow from £50 or anywhere upwards to £1500. The monthly repayable period can be customized by you from one month up to twelve months. Thus, providing you with the flexibility of amounts and payment length.
The interest paid back on the loan depends on the amount borrowed, the amount of time you would like to borrow and your current personal circumstances along with your financial history.
Expeditious Application Process
Submitting the application for your instalment loan is straightforward and swift. Following the entering of your personal details, income, expenditure and bank account details, we’ll send them to our panel which consists of the leading UK short term lenders. You’ll receive a decision quickly and will be directed to the lender’s website to accept the loan and electronically sign the documents.
Not to mention, the process is online. Therefore, you don’t have to worry about calling phones that only operate during business hours, we’re available for you to quickly apply 24/7.
Plus, applying for multiple loans simultaneously can have a negative effect on your credit file. So please take note and apply responsibly.
Putting your Instalment Loan to use
Instalment loans can be very advantageous when financial hardships are occurring.
Our short term loan solutions are currently intended only for quick financial support. Also, they’re useful in instances such as covering the gap in income between leaving and old job and finding a new one. They’re useful for paying for an unexpected bill, essentials and other necessities such as property repairs until your next payday comes.
How do I apply?
Applying for a PMLoan is simple, you just have to fill in our short and simple application form. The information we require from you will allow us to confirm:
- Your identity
- Your Affordability to analyse if you can repay the loan
- The status of your credit
If you’re looking for an instalment loan, apply below or check out our repayment options using our loan calculator.