Financial emergencies can happen to you regardless of your financial standing, and that's why it is important to know how to take small loans like £200. Obtaining a £200 loan was a tedious process in the past, but nowadays, it has become increasingly popular among those who need quick cash to solve pressing challenges. Today's lenders now offer a wide range of small and short term loans, including offering loans to those with bad credit. With lots of lenders scattered across the country, you need to tread carefully so you don't fall victim of scams.
Ahead, you will learn how to borrow as little as £200 with bad credit, what qualifies you for a loan, and how to apply for a £200 loan.
Can I Borrow £200 with Bad Credit?
Yes, you can borrow £200 with bad credit. Having a poor credit rating should not stop you from accessing a £200 loan to meet up your financial emergencies. While banks and other lending institutions may not approve a £200 loan due to your poor credit rating, our lenders will consider offering you a loan despite your poor credit rating.
Our approach to lending £200 to those with bad credit is simple - we partner with industry leaders that are licensed by the Financial Conduct Authority. Our lenders will look beyond your credit rating and take other things into consideration. They will determine whether or not you are able to repay your loan within the term specified in the contract paper. Your loan request will be approved once our lenders can confirm your replayability. So, endeavor to maintain a clean record before submitting your application.
Get Cash When You Need It Most
Get StartedDo I Qualify For a £200 Loan?
Of course, you do. The criteria for obtaining a £200 Loan is simple. First, you must be at least 18 years of age and above. You must be a citizen or a resident with a residential permit. Secondly, you must also have a steady source of income to guarantee repayment. The lenders FastPaydayLoans cooperated with will also require you to have a UK bank account with a debit card to enable the lenders to automatically take the refund from your account each month. So, instead of paying the refund manually, our lenders will deduct the repayable amount at a specific date each month.
| Why Trust FastPaydayLoans? | ||
|---|---|---|
| How much can I take out? | £100-£5000 | No obligation quotes |
| Representative APR | 49.7%(variable) | Competitive rates |
| Will bad credit be accepted? | Yes | Lenient requirements |
| What are the repayment periods? | 1-36 months | Flexible loan term options |
| How can I apply? | Apply online | 24/7 available |
How Do I Apply For a £200 Loan?
The process of applying for a £200 loan is simple and straightforward. All you need to do is to complete a simple online application form. During the application process, we will capture your details and forward the same to our panel of UK direct lenders, who will then determine whether or not you'd be approved for a £200 loan.
Once you complete the loan application form, the lender will conduct a credit check to determine whether or not you will be able to repay back the loan within the contract terms. This is where your credit score will be checked and other considerations will follow suit. So, if you are looking for a straightforward way to access a £200 loan without many requirements, we have got you covered.
How much would you like?
Representative Example: Rates from 43.1% APR to 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £1,200 borrowed for up to 75 days. Total amount repayable is: £1506. Interest charged is 0.34% per day, amounting to £306, annual interest rate of 124% (variable). Representative APR: 49.7% (variable).
When Should I Pay Back My £200 Loan?
Loan repayment duration varies by lenders. The repayment period is set for 12 months, but you can spread the payment across 3, 6, or 12 months. Our flexible payment method will provide you with the opportunity to repay your loan bit by bit.