Low APR Loans

£50 £2,000
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£0 borrowed over 0 days
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due Saturday 28th May
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Representative example:

Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.

Warning: Late repayment can cause serious money problems. For help, go to moneyhelper.org.uk

Compare high cost short term quick loans at www.choosewisely.co.uk

Fast Loan offer loans available that provide the cash you need at affordable terms. Here at Fast Loan, we can provide borrowing of up to £2000 and flexible repayments over a maximum of 12 months that can pay out in an instant. We can look to offer the best loan rates in the UK for your circumstances, whether you have good or bad credit, as long as you have the affordability for repayments. At Fast Loan, we do not offer low interest loans. Even so, we believe it is important to acknowledge the various loans available to you on the market. If you are searching for the perfect loan to suit you, we can provide you with all the information you need to make an informed decision based upon your personal circumstances. Here we will cover any relevant information regarding Low APR loans, and how our short term loans and payday loans differ from low interest loans. By making an educated choice when taking out a loan, you should be able to find the most suitable option for you. On this page, we will include information regarding low APR loans and low interest loans, what you should look for if you need low APR in the UK and explain how our short term loans differ from them. Hopefully, we can help you to make an educated choice about whether low interest loans are the best option for you.

Start your application today by clicking apply now and receive a decision in principle straight away on the amount and terms you want.

What Are Low APR Loans?

When borrowing money from any direct lender, it is likely that there will be some additional charges. As well as paying the full amount that you have borrowed, you will typically pay interest, which is the lender’s charge for allowing you to borrow credit. If the interest rate is low, this means that you have secured a low interest loan, which could help you save money in the long run.

Often, you will find loans with lower interest rates from credit unions, which have a cap on the amount of interest that they can charge. They operate with three main aims, which are to provide loans at low rates, encourage all members of the union to save regularly, and help members in need of financial advice. They act in their members’ best interests, so should never allow their members to take out loans that they are unable to afford. When applying for low APR loans in the UK, you will usually be offered an interest rate that is calculated as a percentage of the amount you choose to borrow. This is charged alongside your repayments each month and the longer you take out a loan for, the less interest you will usually pay. Typically, you will see lower interest on long term loans or personal loans. The ultimate interest amount can depend on a range of factors, such as your credit score, how much you have borrowed, how long for, and the type of loan you choose.

Are Low APR Loans The Same As Low Interest Loans?

APR stands for annual percentage rate and could include interest and arrangement fees, depending on the lender. The reason that lenders display APRs is to allow you to compare and assess the cost of borrowing in a straightforward fashion. If you have seen an offer for low APR loans and have contemplated applying, it is worth bearing in mind that these differ from low interest loans in the UK. While interest is usually a percentage of your borrowed money that you pay as part of your monthly instalments, APR takes into account the overall amount of the loan, inclusive of any obligatory fees that are automatically added onto the loan.

Eligibility for Low APR Loans

Although we do not offer low interest loans or low APR loans, we do offer a number of other loan options for you to choose from. If you wish to apply for a low APR loan in the UK, this is something we cannot provide. However, for all other types of loan, we ensure the application process is kept as straightforward as possible for our customers, with easy-to-follow criteria. To be eligible to apply today for a loan with us, you will need to meet the following:

  • Aged 18 years or over
  • Current UK Resident
  • Be in Full-time, Part-time or Self-Employment
  • Receive a Regular Income
  • Have a valid Bank Account and Debit Card

By meeting the above criteria, you will be able to decide the amount and repayment terms you desire and start your application.

If we cannot determine you can manage to pay for the loan conditions you are looking for, we will have to decline your application. As part of the approval process, you will also be required to provide proof of ID, proof of address and your last 3 months bank statements.

Apply Now & Get an Instant Decision

If you’re looking for instant cash today, and you have the ability to prove your affordability, our loans can assist you in a challenging situation. As Financial Conduct Authority (FCA) certified lenders, we work to responsible lending standards to ensure your application is treated reasonably and to ascertain you can afford the loan you apply for. If you have any queries about any of our loans or would like further information on how low APR loans in the UK work, please get in touch. To start your application for any of our other loans, click apply now.

Low APR Loans in the UK – FAQs

Are There Alternatives To Low Interest Loans?

Low interest loans may initially feel like an appealing choice, always consider all potential options before going ahead with any application. There is always potential that they can leave you with further financial difficulties, particularly if you miss repayments or end up paying more than you expected. They aren’t the best solutions for everyone’s needs, so there are a couple of different options that may be more appropriate, depending on your current finances. These can include:

  • Using your savings – if you have a considerable amount in savings accounts, it could be worth considering whether you have enough to cover the cost of the purchase that propelled you to search for low interest loans.
  • Borrowing from family and friends – if you have the offer from friends or family to borrow money, this can be a great choice. This is beneficial as it does not involve a third-party lender, but always ensure that this will not impact your personal relationships.