Get a 1 year unsecured loan
There are times when people used to face financial crisis because of not getting financial support from lender due to their bad credit score. Understanding the situations of people, various types of bad credit loans have been implemented to fulfil the requirements of individuals. However, to avail these loans, one should fulfil specific criterions.
How are these loans important?
In most cases, this type of financial emergency arises when a person has bad credit score. Also, this can arise when certain immediate payment of a huge amount is to be done. In such cases, people generally apply for unsecured loans that are to be paid back within a span of 1 year.
The amount which is borrowed in high amount with a maximum time of one year get the best interest rates. Thus, any person with a minimal credit score or even with a bad one can apply for it since at times, this time period is flexible.
Types of loan:
There are a number of unsecured loans that can be paid back within a span of 12 months. In such cases, people need to fulfil certain criteria before applying for this loan.
- Guarantor Loans:
This is one of the best options in case of unsecured loans. With a guarantor to stand in as security in place of collateral, this loan generally ranges from £500 to £12,000. With a Representative APR that matches up to 44.9%, this loan has to be paid back within a period of 1 year. However at times, this can extend up to a period of 7 years in case of any financial emergency.
- Personal Loans:
In this case, people with bad credit can get a loan without need for a guarantor. With a monetary amount that reaches up to £12,500, with a Representative APR of 50%, this loan has to be paid back within 12 months. At a maximum level, this time limit can be increased up to 5 years.
- Logbook Loans:
This loan is such that an amount from £500 to £25,000+ can be borrowed. Generally Representative APR for this rates up to 99.9%, this too has a time limit of 1 year. The best part of this loan is that it uses your car as mortgage for a limited time period. Hence, there is no need to depend on anybody else for the payment of loans.
- Payday Loans:
This is one type of loan that is sanctioned within a single day and has a very short time period for repayment. Generally amount that can be borrowed ranges up to £1000, the Representative APR being at 1192%. Such loans are sanctioned only in special cases.
- Doorstep Loans:
In case of this loan, amount that can be borrowed is up to £2,500, which has to be paid back within a span of 14 to 52 weeks. This has Representative APR at 399.7%, with multiple options and has option of getting delivered at your doorstep.
Thus, with a series of options in terms of unsecured 1 year payment loans, you can get a chance to choose the best. With our services at Slagoon Loans, you are surely bound to get that help to find a good loan.