Instalment Loans
Are you looking for instalment loans? If you need an instalment loan, we can help. We’re a direct lender who offer loans which you can repay in 6 monthly instalments. Our loan application process is fast and easy and, if approved, we’ll send the loan to your bank account in 90 seconds*.
Representative Example: Given a Representative APR of 1271%, if you borrow £300 over 6 months at 292% p.a. (fixed), you would owe 6 equal repayments of £96.39. You will repay £578.36 in total.
Not all applications will be approved for a loan. An offer of credit is subject to status and affordability checks.
Why choose Lending Stream for instalment loans?
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Direct Lender
Lending Stream is a FCA authorised and regulated direct lender, offering short-term loans without any hidden fees.
No early repayment fees
Repay in 6 monthly instalments. We don’t charge for early repayment.
Fast
Apply online 24/7 with decisions in seconds. If approved, cash is sent to your bank in 90 seconds.*
What are instalment loans?
An instalment loan is a loan which the borrower pays back in regular instalments. These will usually be weekly or monthly repayments. Instalment loans will also usually have fixed repayment amounts. This means that you’ll repay the same amount each instalment until the loan is repaid in full.
This can make instalment loans an attractive option for borrowers who budget and want to know exactly how much each payment will be. They also spread out the cost of the loan over a longer period of time than some loans like payday loans.
If you need an instalment loan, we can help. At Lending Stream, we offer 6 month repayment loans. So, you can repay your loan within 6 months in 6 easy instalments. You can even repay early if you want to.
How much can you borrow with our instalment loan?
If you’re looking for an instalment loan, that’s what we specialise in. Lending Stream offers loans to first time borrowers between £50 and £800. Repeat borrowers with a history of good payment can borrow between £100 and £1,500. When you borrow, we’ll set up 6 monthly repayments. But if you want to pay in a shorter amount of time, that’s easy to do as well.
Representative 1271%APR
Eligibility criteria for instalment loans
If you are looking to check your eligibility to apply for an instalment loan with Lending Stream, then you must:
- Be a UK resident.
- Have an active UK bank account.
- Have a valid debit card.
- Be at least 18 years old.
- Have a regular monthly income of at least £400
During our application process, we might ask you to show proof of your income. As a responsible lender, we do this to ensure that you can comfortably afford the loan repayments.
Representative 1271%APR
How to apply for an instalment loan with Lending Stream?
Applying for instalment loans with us is an easy process. You need to fill out our online application form and give us the following details:
- Enter your personal details
- Choose the amount you want to borrow with us
- Provide us with your employment, salary, expenses, and banking details
Once we receive your application form, we will run affordability and credit checks on your profile. If approved, we’ll send the cash to your bank within 90 seconds. It may take longer to reach your account depending on your bank’s processes.
Representative 1271%APR
How long do you have to repay your instalment loan?
With Lending Stream, you can repay us within 6 easy monthly instalments. If you’d prefer to repay earlier, that’s not a problem at all! You can repay early without any extra fees.
Our loans are charged at a daily interest rate, so by making early repayments you can save money.
What if my instalment loan application is rejected?
We consider many different factors while checking your application. This is why we never guarantee your loan application will be approved.
Sometimes, information from a credit reference agency leads to us declining a loan application. If this happens with your application for an instalment loan, we’ll tell you which agency we used by email. This way, you can check your information with them.
If you’re struggling financially and can’t afford repayments for an instalment loan, it might be worth checking afforda.co.uk. It’s got information about different ways to get financial help. This also includes BenefitGlance, which helps you figure out if there are benefits, you’re missing out on.
What are my money borrowing options in the UK?
1. Fixed Repayments
With an instalment loan your repayments are fixed, so you know exactly how much you need to repay each month. Also, with some loans you can choose to repay your loan early if you want to.
2. No Collateral Required
When you apply for a loan with us, they’re unsecured instalment loans. So there’s no need to risk your house, car, or any other assets as collateral.
3. You May Be Eligible for an Instalment Loan with Bad Credit
Being an instalment loan direct lender, your credit score is important to us. But we do understand that your credit score may not reflect your current financial situation. We’ll look at your income and expenses to decide whether you can afford repayments. This is why we consider giving bad credit loans in some circumstances.
4. Repay in Affordable Amounts
If you take out an instalment loan with Lending Stream, we’ll give you 6 months to pay back. Unlike a payday loan you don’t have to pay it all back at once.
Disadvantages of instalment loans
1. High Interest Rate
Some instalment loans have a higher interest rate than traditional bank loans.
2. Financial Burden
An instalment loan can put you in financial difficulty if you’re not able to make your monthly instalments. If you’re late or miss an instalment, some lenders may charge you extra fees. Daily interest rates might also mean that your loan is more expensive than you planned. Missed or late repayments can also affect your credit score.
FAQs – instalment loans
Is Lending Stream an instalment loans direct lender?
Lending Stream is a short term loans direct lender, and we give our users 6 months to repay their loans in 6 easy instalments. In our opinion, we’re one of the reputed short-term instalment loan lenders.
Can I get an instalment loan for bad credit?
Lending Stream may be able to help you if you have a bad credit. We offer 6 month loans for bad credit customers as well. This will be subject to affordability and credit checks. We need to know you can comfortably afford the repayments.
Can I get a monthly instalment loan with no credit check?
Most FCA-registered companies conduct credit checks as part of their standard procedures, although it is not a mandatory requirement. The decision to perform a credit check typically depends on the nature of the services being provided and the individual company’s policies.