|Loan type||Unsecured personal loan|
|Loan amounts available||£1,000 – £15,000|
|Loan terms available||24 – 60 months (2 – 5 years)|
|Age eligibility requirements||Minimum of 18 years old|
|Access for lower credit scores||No|
|Chance of acceptance available||No|
|Loan pay out time after approval||24-48 hours|
|Early repayment options||Potential options – check your loan terms and conditions|
Who is Everyday Loans?
Everyday Loans is a responsible lender that makes sure to put customers first. They take the time to talk customers through all the finer details of their application to be sure they get the right option for you.
They are also more considering of the challenges people face, and may be able to offer loans to people with less-than-perfect credit scores – meaning that if you have had trouble with repayments, you could still be eligible for a loan.
How much can I borrow with Everyday Loans?
Everyday Loans take applications for personal loans from £1,000 to £15,000, with repayments set across terms from 24 to 60 months. The amount that you are eligible to borrow will depend on your personal circumstances and credit history.
What interest rate will I get from Everyday Loans?
The interest rate offered to you by Everyday Loans will depend on your credit score and personal circumstances. However if you are eligible with Everyday Loans, your offer will have a real – or guaranteed – rate, meaning you know how much your loan will cost you before you apply.
If you have struggled with repayments in the past, or haven’t borrowed money before, you may find that rates are a bit higher on offers you receive. This is because you’ll appear a riskier person to lend to by lenders.
Need to give your credit score a boost? Check out our top tips for improving your credit score.
What can I use a personal loan for?
Everyday Loans are for exactly that – everyday use. You might be purchasing a new car, planning a celebration or looking to consolidate debt. Popular uses of personal loans include:
- Debt Consolidation
- Home improvements
- Purchasing a new car
- Holidays or travelling
Who is eligible for an Everyday Loans personal loan?
Your eligibility for a personal loan will depend on your credit history and personal circumstances. When assessing whether a person is eligible for a loan, most lenders will take into account how risky a person is to lend to based on their credit score and whether they can afford to take on the loan.
If you are self-employed or on benefits, this doesn’t stop you from checking your options. You may still be eligible for finance with Everyday Loans. However, there may be additional checks made before an application is fully approved, likely to be used to make sure taking on finance won’t put you into financial difficulty.
To be eligible for a loan with Everyday Loans, you’ll need to:
- Be aged 18 or over
- Have UK citizenship
- Have a UK bank account
- Be currently employed
Will applying with Everyday Loans harm my credit score?
Everyday Loans takes pride in putting customers first, so they use what is known as a “soft credit check” to assess your eligibility. This means that if you apply, it won’t show up on your credit history even if you are rejected. The only time it will be visible on your report is if you are accepted, an offer is made and you accept and take out the loan.
How long will it take for the loan amount to be paid?
You will need to meet with Everyday Loans in your local branch to finalise your agreement which means it can take around 5 days from your initial eligibility check with us to receive your funds. However, once your application has been fully approved by Everyday Loans, they aim to get all payments out within 24 to 48 hours of approval. They do reserve the right to hold payments to the next day to be sure that everything is correct – this helps to make sure everyone involved is safe and the transaction is fair. Personal loans are often a lot quicker to apply for and approve than secured loans as there is less paperwork involved. This means that many personal loan lenders can process and payout your loan much faster.
Can I pay my loan off early?
Just like many other lenders, Everyday Loans may offer the ability to make early repayments. If this is something that is important to you, check your offer terms and conditions to see if there are any early repayment charges involved. Everyday Loans will also contact you to go through your application, so you can double check any details on early repayment then.
What should I consider before taking a personal loan?
With any loan it is important to make sure you consider all options and possibilities. It is especially important that you only borrow what you can afford to repay.
- You might need bank or ID verification
- Your loan offer will be subject to final lender and fraud checks
- Everyday Loans may need to get in touch over the phone if they have any questions about your application
- Missed repayments can negatively affect your credit score
How do I check my eligibility for Everyday Loans?
Here at Aro, we can help you check your eligibility for a personal loan without harming your credit score. Simply fill in your details and we’ll check your personal loan options with Everyday Loans and over 50 other UK lenders in minutes.
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