£50 to £25,000
Paid out by †
£50 - £995
Rates 278% to 1576%
3-12 month repayment
£1,000 - £25,000
Rates 4.7% to 278%
3-36 month repayment
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.
† Not all loan types and amounts are eligible for 20 minute payouts. Your chosen bank may increase the time you receive the funds.
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Credit £3,250 for 36 months | Interest (fixed at 41.16%): £2,464.57. | Total amount payable of £5,714.67.
Representative 49.9% APR. | 36 repayments of: £158.57.
200 Loans Online in the UK
When you apply for a loan, there is often a minimum and maximum amount that you can take out. Personal loans for instance, can help you obtain at least £1,000 or as much as £25,000 pounds while payday loans will allow you secure credit anywhere from £50 to £1,000. Overall, the amount of loan that you can borrow will depend on the type of loan, your qualifications, and the lender providing it as well. Now if your need for funding is small, say 200 pounds, then short-term, unsecured 200 loans are what you need.
Taking out 200 Loans Online
There are also plenty of lenders in the UK that offer 200 loans, from banks, brick and mortar lending companies, to online loan lenders. However, you might want to focus your search on online lenders and disregard the rest. This is because banks and traditional lending companies tend to process loan requests at a very slow rate. It can take several days to a full week before a bank can complete your loan application. You don’t need to endure such a long wait if you only need just a couple of hundred pounds to get by.
Online loan lenders however, can process your loan in just a day or two. You can even accomplish an online application in just 15-20 minutes and receive a decision from your lender instantly. And once your request is accepted, your money will generally be ready for use on the same day. It’s that fast!
The quick and seamless process of 200 loans
When a loan is offered through a secured online platform, this means that you can make an application anytime at your convenience whether its 12 in the afternoon or in the midnight. It also offers several unique advantages that you won’t find in traditional loans such as speed, ease of access, and convenience. Generally, there are only three simple steps that you need to accomplish in your 200 loan application online and they include:
- Fill out an online application form that will request some basic information from you such as your address and nature of work.
- Enter 200 pounds as the amount that you intend to borrow and choose a payment term that is ideal for your monthly budget e.g. 30 days or 3 months.
- Wait for a response from your lender which can be just in a few minutes. If you are approved, the money should be deposited into your account within the day or the next day.
Also, short-term unsecured loans like a 200 loan offered by online lenders are also more lenient and flexible than traditional loans. This means that you can still get approved even if you have a poor credit history or a credit-history that is still non-existent. There are even options that can cater those who are unemployed, self-employed, and single mothers. Thus, if you have bad credit and want to secure extra funding to deal with an emergency situation, going online is your best bet in securing a quick and reliable loan.
How to obtain 200 loans online
There two ways in which you can obtain 200 loans in the web and they are through a direct lender or a broker. Direct lenders are real lenders and will fund you the money directly without any other company or outside party involved. Brokers on the other hand, work just like real brokers wherein they will refer you to a lender that can cater your loan request.
Securing a direct lender may allow you to enjoy better deals but that is if you manage to find the right company and this means doing some research on your part. Relying on a comparison or review site should be able to help you out in this undertaking. You might also want to ask friends and people you know who have had the experience of taking out a 200 loan from a direct lender online.
With a broker, the process is quicker and easier since the broker would be the one to forward your application to a potential direct lender. However, your choices would be limited purely on the broker’s select set of lenders.
In the end, it’s up to you in which method works best given your present needs and circumstances.
Important things to consider with 200 loans
So you can enjoy the best 200 loan online, it’s important to have some form of guideline to follow. This will also ensure that your application becomes smooth and enjoys the best chance of getting approved. With that being said, bear in mind these important points when you take out a short-term, unsecured loan for 200 pounds.
- Always stick to your repayments. Be sure to follow the repayments of your loan according to the agreed terms and conditions so you won’t be charged with additional fees. Aside from monetary penalties, you will also be damaging your credit rating if you don’t keep up with your payment duties.
- The longer the term, the more expensive it would be. Ideally, you want to choose a loan term that is short but not too short that it becomes too much of a strain on your budget. This is because longer terms generally are more expensive as you will be covering more interest rate payments.
- Know the terms and conditions of your loan. Every lender has its own unique policies for their borrowers with regards to how they pay off their loan. There are those that allow partial or full payments in advance for free and there are those that will charge a certain fee for it. So you will know what the rules are, be sure to acquaint yourself with the terms and conditions of your loan.
- Let your decision be guided by reason. Keep in mind that 200 loans tend to have high interest rates than conventional loans. That’s why it’s important to only use them if you really need to like when you find yourself short of cash to reach payday or if there is an unforeseen expense that you need cover urgently. Always allow reason to guide you in taking out a loan even if it’s just a couple of hundred pounds.
And don’t forget to only borrow from online lenders that are FCA (Financial Conduct Authority Licensed) licensed. This will ensure that the kind of 200 loans service you will be enjoying is safe, legal, and free from any form of scam and exploitation.
Loanize is a licensed credit broker and not a lender.
We will never charge you for our service and the lender will not increase the rate to cover our fee to them.
We work with over 40 different lenders to bring you the very best rates from across the UK market.
Representative Example: Borrow £200.00 for 60 days. Repay in 2 payments, first payment in 30 days
Each Payment: £147.04. Total Repayment: £294.08, Interest: £94.08.
Interest p.a: 365%(fixed). Representative APR 1058%
Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk.
Do not borrow more than you can pay back as defaulting on payments can lead to serious monetary problems.
Any collateral you have against the amount may be at risk of repossession.
Finding the Right Loan for You
There are many kinds of loans that you can get while using a guarantor. We have divided our site to focus on specific kinds to make it far easier for you to make sure you are getting the finance plan you are looking for.
If you are looking for something specific then check to see if our sub-sites cover what your after. If they don’t just get in contact with us and we will definitely be able to help.
5 most recent personal loan reviews
Honest, realistic and genuine, I can't say anymore than that. I had problems with credit in my past that were cleared but unfortunately my credit score was very poor but thankfully Ikano loans gave me a chance to rebuild that. High rates, but that's expected when getting a loan with such bad credit. Thanks again for your support.
Review posted by Peter Harrow, Thornbury
Ease Of Use
Value For Money
Excellent communication and a very quick and easy process. Authorisation telephone call was conducted by a friendly and polite lady who explained everything clearly. Would highly recommend this company.
Review posted by Melanie Steele
Ease Of Use
Value For Money
The service was simply amazing. I have never taken loans service seriously, my view point has now changed. I needed the money for flight tickets to attend a funeral and I could have not been dealt with in such an amazing manner. The interest rate was also better than I expected. Certainly will be paying the money back early as this was really an emergency and a life saver.
Review posted by Wayne Crouch, Plymouth
Ease Of Use
Value For Money