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Instalment Loans

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£

Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
Oyster Loan is a credit broker and not a lender

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.


Representative APR example

The rate you are offered will depend on your individual circumstances.

All loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount.

Representative APR example: for comparison purposes 12.9% APR Representative Fixed based on a loan of £10,000 repayable over 60 Months. Monthly payment of £223.43 total amount repayable £13,405.80.


What are Instalment Loans?

It is a personal loan which can be borrowed for a period of up to 1 year. The loan has to be repaid with a set number of scheduled payments as agreed by both the lender and the borrower. The monthly repayments include principal and the interest amount – which has to be paid by the borrower. It offers flexibility and convenience to borrowers who are looking to fund small expenses and need the money for a very short period of time.

An instalment loan in the UK is manageable as a borrower do not have to repay the amount in one go. Most of the lenders allow repayment in equal monthly instalment. That means a borrower knows how much amount he has to pay the next month. This process will help the borrowers to manage their personal finance efficiently without facing any adverse situation.

How Do Instalment Loans Work online in the UK?

The rates of interest offered on an instalment loan in the UK vary dramatically from lender to lender. However, these loans are quite famous under the tag of High-cost Short-term Credit (HCSTC). The process of applying for this credit product is not different from any other personal loan.

A borrower who has availed a loan has to repay the amount in affordable monthly instalments. People generally borrow this loan to fund a big expense that may take up to a year for them to repay. It is important to repay the amount though. Failure in repayments may severely damage your credit score. It is not easy to borrow money with a damaged history and the rate of interest you will be offered will be quite higher.

Instalment Loans UK and Poor credit score

Our situations are never under our control. Due to a delay in salary receipt or anything, you must have missed the payment date of your bills which were due. This one single thing would have hurt your score. A missed credit card payment would have resulted in a similar way. Therefore, at Oyster Loan, we understand that a person’s finances cannot be determined only on the basis of a credit score.

The panel of lenders we deal with offer instalment loans for poor credit without impacting your already damaged credit score. Though chances of approval on this kind of loan depends on the affordability check. Before the final approval of the loan, lenders are required to perform a hard credit check as mandated by the financial regulator (Financial Conduct Authority). The lenders will offer you a soft quote initially with soft credit check– that will give you an overall idea of the rates that you will be offered.

Also, borrowing a short-term loan may recover your credit score, only if you repay the amount regularly – in full and on time. The improvement is a gradual process and will take time, your efforts and patience to revive its current state.

Benefits of an Online Instalment Loan

It was quite difficult in the old days to arrange for a loan during emergencies. Now, with the revolution in the lending industry and with the advancement in technology, everything is becoming much easier. There are several benefits of borrowing an instalment loan are listed below:

  • Flexibility The flexibility it has in terms of repayment makes it the most opted credit product. A borrower doesn’t have to repay in a lump sum and hence, they can easily plan their monthly budget.
  • Speed An emergency is unforeseen and can happen anytime. If you are not prepared for it, then availing immediate funds become the ultimate goal of the hour. And if you do not have a perfect credit history, it becomes more difficult. A borrower can easily apply for an Instalment loan even with bad credit and if approved, a borrower can gain quick access to funds.
  • Reliable Oyster Loan deals with FCA licensed lenders only. Hence, you can be assured of transparency and business ethics. Moreover, the rate of interest they offer is fixed. That means there are no chances of any increase in the amount of monthly repayment during the tenue. You will pay the same monthly amount throughout the tenure.
  • No Collateral A borrower doesn’t have to pledge any of their valuable asset or property as collateral while applying for the loan. That means there is no associated risk of collateral damage.

How to Apply for an Instalment Loan Online?

Oyster Loan has designed an easy application process for the ease of borrowers so that they can gain quick access to funds during emergencies, without wasting any time. You can apply for an instalment loan online in 3 easy steps with us:

  1. Application Form: Fill in the application form online with necessary details about yourself, employment and residential status, and financial information.
  2. Submit: Once you’re done with the 3-minute form, submit it online so that our lenders can start their process of assessment and verification.
  3. Decision: The decision of the lenders will be displayed on the screen and all this happens within a few minutes.

Please note that we offer instalment loans without guarantor. A borrower doesn’t have to arrange for a co-signor to avail a loan with us.

Pay in Easy, Flexible Repayments – With Oyster Loan

Oyster Loan is an FCA authorised credit broker operating across all the major cities of the United Kingdom. All the lenders that we deal with are also licensed by the FCA to maintain standard industry practices. We offer a wide variety of short-term and personal loans and ensure responsible lending to protect borrowers from any unethical business practice.

We do not charge any upfront fees or arrangement fees. Moreover, borrowers opting for an instalment loan with us have the chance to protect their credit score while initial loan eligibility assessment. Our personal loans are designed to meet the borrower’s criteria during financial emergencies with a simple application process.

Borrow an Instalment loan online today and repay in easy and flexible monthly instalments. 

Disclaimer

Oyster Loan is a licensed LOAN BROKER and not a lender. The website is registered in the UK and is authorised and regulated by the FINANCIAL CONDUCT AUTHORITY (FCA). WARNING: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK.

Oyster Loan does not charge any fees. If you are contacted by anyone claiming to be from Oyster Loan and requesting you to make a payment, report it to www.actionfraud.police.uk.


All Loan approvals & Quotes are subject to Credit Score and Affordability requirements by lenders. If you meet the lender's criterion, you can borrow the money. We as a broker make an attempt to process your application with the most suitable lenders in our panel.

photo of Oyster Loan Oyster Loan
Oyster Loan
71-75 Shelton Street
Covent Garden, WC2H 9JQ United Kingdom £100-£35000
+44 203 633 1699
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