What are 12-month loans?
12-month loans are short-term funding options for borrowers for temporary or urgent needs. These loans are available on instant approval, and the fund deposit happens within 24 hours. There will be no purpose constraint. If you borrow funds, you can use the money for any purpose. You should have ample cash, whether it is a last-minute need during marriage or a medical emergency. If you don’t have one, trust this loan option.
The maximum tenure can be one year, and the money can be borrowed conveniently online. The repayment capacity of the applicant is the prime factor in getting approval on these loans. A credit score is a vital factor, but not the only one. Due to the speedy lending process, you can get the money the same day you apply.
These are also known as personal loans, as there is no limit on the use of money. As it is a short-term loan option, the interest rate is a little higher than the long-term one. But if you take 12-month loans from a direct lender, you can get flexible deals with customised interest rates and repayments.
To know more about the process, contact us. Once you are convinced, we will process your funds and will deposit money in your account within 24 hours.
What can I use 12-month loans for?
There is no limit of use for the funds you borrow through the loans for 12 months. In fact, due to this liberty, this funding option has become so popular across the UK. The disbursal process is quick. Once you get the cash in your account, it is up to you to determine your reasons for using the funds.
Usually, people borrow funds for the following purposes -
- Medical emergency - Yes, of course, a medical or health concern, especially one that comes unpredictably, can leave anyone in a fix. Getting in any medical emergency can leave anyone needing funds. In such circumstances, the 12-month finance becomes a dependable choice.
- Educational expenses - Education is the backbone of a successful life. Many students across the UK plan for higher studies for which they need ample money. Not everyone can get a scholarship. With affordable loans, they can easily manage their expenses and dream of a great future.
- Marriage arrangement - Who wants to keep things less perfect in a lifetime occasion like marriage? No one, right? Short-term loans can be vital if you are planning to get married or give a huge surprise or gift in someone else’s marriage.
- Fund business growth - An individual or a business owner, anyone can get funds through these loans. Bumpy finances are a usual thing for businesses, and thus, depending on loans of shorter tenure can prove a helpful choice.
How much money can I borrow?
You can borrow a minimum of £1000 and a maximum of £10,000 through 12-month loans. But you must understand that your repayment capacity is the ultimate decision-maker. You can get the maximum amount if you have a strong capacity to pay back funds. A borrower with a good repayment history and controlled obligations in the current times can get any amount.
The loan amount is a matter of eligibility calculated through a loan calculator. It calculates everything and gives you an approximate idea of the loan amount, tenure and interest rate you qualify for. At Easyadvanceloan, you will go through a predictable process. Our experienced loan experts will be there to help you during the entire application process. You can track your loan application online. However, it never takes more than a day to obtain funds.
If you want to borrow a larger amount, keep your finances stable. Remember, a six-month financial history before applying for a loan is extremely important. All lenders in the UK give importance to your credit and financial history during this duration. Timely repayments of expenses, regular income and no other financial chaos on your credit report help you borrow the amount you desire.
How do short-term loans work?
The process of short-term funding is straightforward and transparent. You can complete the process in a few steps, and you will get the funds in your bank account in less than a day. Below is the generic method that works the same across the UK. However, the rate of interest and other loan policies may differ.
- Apply for the loan online by filling in all the details and providing the necessary documents online only.
- We will check your credit history, financial records, and current income to calculate repayment capacity.
- If your financial situation proves your capacity to repay the loan, funds will be approved with a loan offer.
- Accept the offer and let us know.
- Once you send us the approval, the money reaches your account.
As you can see, this process does not take much time. This is why 12-month loans from a direct lender are popular not only in the UK but also across the world. If you want to be self-reliant in your finances, you can rely on these loans. There is no need to request others for tiny, temporary financial needs, as the small-term funds are easy to pay back. With the help of these loans, you can attain certainty and confidence in life.
How to get a 12-month loan with bad credit?
Yes, you can apply for a loan with a bad credit score. Direct lending works on a new-aged approach. Technically, current financial strength to pay an obligation is more important. A credit score is essential, but it is not the only thing we see for the approval decision. 12-month loans for bad credit act as a valuable option for fund seekers. A quick eligibility check is sufficient to tell the amount you can get.
At Easyadvanceloan, we make sure that the borrowers not only get funds but also necessary knowledge. When you contact us, we explain every aspect that can help a borrower get approval despite a poor credit score. Another factor is essential for us besides the capacity to pay an obligation. If you are an existing applicant of us, we quickly consider your poor credit case. Your previous repayment history with us works as a base for our decisions.
Now, the time is for liberal approach and 12-month loans from direct lenders prove it successfully for bad credit people. If you still have any questions, it is time to talk in detail. Call us and we will describe how things work in case of poor credit loans. Direct lenders like us understand that a low credit score is not a sin but a situation that will pass with little attention toward personal finances.
Will I need a credit check?
The credit checks can be significant but not vital. Many times, borrowers express their denial of credit checks. In that case, we allow them apply for 12-month loans with no credit check. Usually, when fund seekers apply to multiple lenders, their credit report has to go through multiple credit checks. As a result, their credit score is affected. If an applicant has a poor credit score, such things can leave an even more negative impact.
If you don’t want to, you can apply to us, asking to perform a no-credit check. However, our approval rate is high. You can expect an easy funding experience if you apply to use without going to other lenders. Why waste time when money can easily and quickly reach your bank account? The lending industry is going through a significant change and has become quite friendly to fund seekers.
Now, the prime focus is on the requirements of the borrowers. Lenders today focus on solutions, not only stringent loan procedures. However, getting funds from conventional banks and finance companies can still be tricky. They may take more time due to a longer process and mandate credit checks. Nothing like this happens in the case of an online finance provider.
Does a 12-month loan need a guarantor?
No, you don’t need any guarantor to get a short-term loan of whatever tenure. None of the small loans make it mandatory to bring anyone else into the process of borrowing. After all, the small-term funding gives liberty to the borrowers to get funds self-reliantly. Even with a low credit rating, no other person needs to take your guarantee. Apply for 12-month loans for bad credit with no guarantor and get funds on instant approval decision.
Next time a money crisis happens, do not hesitate to apply for a 12-month loan without any stress of a guarantor. That will never become a reason for any rejection. In place of worrying about such things, just work on your current finances. Make sure your current status in personal finances is sufficient to prove that you can pay off funds quickly. That is the only thing that matters in a short-term loan.
Irrespective of credit score, a borrower can get a loan without help. Once you come into the list of previous borrowers of a lender, approval becomes even easier. Still, have questions to ask? Why not talk a litter over call and we will describe everything. The best thing will be to apply for a loan directly, and you will understand everything during the smooth funding process.
What are the benefits of 12-month loans?
Several advantages have become the identity of the loans for 12 months. We know you will have your own list of benefits in your mind. Let’s share our list here and see how similar we are in points.
- Available anywhere across the UK - No location constraint is applicable in the case of these loans because from application to fund disbursement, everything happens online. Get money in your account while sitting on your couch or your bed.
- Last minute saviour - When no other help is available, this one-year fund option can help you. In the time of need, it is best to depend on yourself and not on others. With such a flexible loan, there will be no fear of a money crisis during an emergency.
- Borrow with bad credit - Credit score does not matter as long as you can repay your loan. This flexibility is a great relief for those struggling with poor credit ratings. No one makes financial mistakes by choice. Sometimes, the situation is the actual culprit.
- 24x7 online account management - Customer support is always available for account management as the borrower gets funds online. If the same borrower takes the loan from the same lender, the borrower can get funds at lower rates due to an existing account.
Why choose Easyadvanceloan for 12-month loans?
We are a dedicated lender, receiving thousands of loan applications every year. Your personal experience will be the ultimate decision-maker to explain our performance. Still, we have some convincing reasons.
- New-aged lending - With us, you can experience easy, speedy funding with no guarantor despite bad credit. We also have loans for the unemployed for those who can prove repayment capacity in any possible way. We are working hard to make the lending industry more and more borrower-friendly while acting rationally.
- Save money on interest rates - We commit to our borrowers that our deals will always be fair and affordable. Due to personalised loan offers, it becomes easy for borrowers to get money without putting stress on their personal finances. Interest rates are always according to what you can pay back conveniently.
- Transparency and data privacy - By transparency, we mean there is neither a hidden fee nor any hidden policy. During the loan process, we explain everything, keeping the interaction and information professional. Data privacy means that whatever details our borrowers share with us remains with us only.
- Pre-approved offers for existing customers – You can save time by entering the essential details. We will immediately give you the pre-approved offers through your existing account details. This saves time, and you must click a few times to get the money in your account.