Fast Loan are able to offer the perfect solution when you find yourself short on cash. We do not classify our offering as high interest loans, but what we do offer are high-cost short term quick loans, helping you to resolve your financial emergency fast. As we are a trusted provider of short term loans, at Fast Loan you can choose a loan all the way up to £2,000 with flexible repayment terms up to 12 months, based on what you can afford to pay. Although “high interest loans” may not be suitable for every individual who applies, we offer tailored solutions to ensure that the repayments are sustainably affordable for each customer.
You may find that alternative methods of borrowing, such as using a credit card or taking out a loan from a credit union, may offer lower interest rates. However, if these options are not available to you, our loans are designed to help you get the cash you need.
Start your application today for a loan up to £2,000 with flexible repayment terms. No hidden fees and full transparency on the interest charge, you can find the solution you need through us. Click apply now and receive a decision in principle straight away on the amount and terms you want.
What Are High Interest Loans?
A high interest loan is a type of loan that usually is usually paid back over the short term. There are a variety of high interest loans available, including payday loans and short term loans, and each are usually designed to cover emergency costs. They tend to be easy to access and quick to approve, which may make them attractive to those in unexpected financial difficulties.
At Fast Loan, we offer high interest loans for short term cash flow issues, so they may not meet every budget. However, we do offer a flexible approach to the application process. We allow you to see the full amount that will need to be repaid, with the monthly repayment plan explained to you in detail following approval of the loan.
Our high interest loans are also based on your current affordability. We will evaluate your current financial position, including income, monthly outgoings, and any other financial obligations you may have. This will help us in determining whether you have the ability to make. Although we do look at your credit history, this is not what we exclusively base our ultimate verdict on.
High Interest Loans Alternative – Why Choose Fast Loan UK
We acknowledge that a high interest loan over a short time period may not be the best resolution for every person, so if you need a more affordable alternative, some options include:
- Using Savings – if you have any money to spare, this may be a more beneficial option in the long run.
- Personal Borrowing – this can be a useful resolve to temporary cashflow issues, but always ensure you have the capability to pay the person back.
- Borrow From A Credit Union – credit unions have a cap on how much interest they can charge. This is 3% a month or 42.6% a year APR across England, Scotland and Wales.
All applications can be processed quickly, so if you are looking to cover a financial emergency, our instant loans can provide a fast decision, usually within 5 minutes, and potentially pay out the same day. Some applicants have even been able to start using their loan within 20 minutes of being approved. Whatever decision you decide to take to help you with your temporary cashflow issues, always ensure you can take the specified repayments. If you are concerned regarding meeting the repayment terms on your loan, please seek support from organisations such as the Money Advice Service, we also provide doorstep loans for an even more convenient option.
Eligibility for our Loan Options
To apply for loan options that are an affordable to you and your current affordability, you will need to meet the following criteria:
- You are aged 18 years or over
- Be a Current UK Resident
- Be in Full or Part-Time Employment, including Self-Employed
- Receive a Regular Income
- Be able to Provide Bank Account and Debit Card details.
Meeting the above doesn’t secure your approval, but it does allow us to assess your request fully. We take a personal approach to the lending approval process, assigning a personal customer care manager to each applicant. They will promptly evaluate your finances and personal details and will call you if they need any further information. Usually, this will only take 5 minutes out of your day, but sometimes it may not be necessary, assuming we have all the information we need already from performing a credit check.
If we can approve your application, you’ll then be sent a digital loan agreement to sign on your electronic device. As this process is all done quickly, the funds can then be transferred to your bank account straight away, often within 15 minutes of signing.
Apply Now Through a Trusted Online Lender
As your search for high interest loans or any other form of loan, you may have trouble finding a lender who will approve you. At Fast Loan, we have low credit score loans suitable for quick cash when you need it. To begin your application, click apply now and receive an agreement in principle straight away. We don’t like to keep our applicants waiting, so your personal customer care manager will ensure the whole process is quick and easy.
Have any questions? Get in touch with us to learn more about our various small loans today.
High Interest Loans FAQs
Do Fast Loan Provide High Interest Loans?
We do not class our loans as high interest loans, with far more affordable rates than some lenders. Even so, you won’t find many direct lenders online able to offer loans with lower interest for short term purposes without charging you high fees. The next best thing to a no interest loan is to choose low-cost alternatives that work to responsible lending guidelines. Our loan options at Fast Loan allow our customers a flexible way to borrow money when they have no other options, such as savings, to cover an unanticipated cost.