As Brexit nearing are you looking personal loans for that cute sofa or a new Kitchen? Although there are plenty of institutions that grant Personal Loans, we suggest you stick with more well known brands. One of the most popular type of Personal loan is short-term loans for less than one year. You might be running into a temporary cash flow issue and need a quick fix. There can be many other reason’s for people like you to apply for loans : make a large purchase like a new kitchen, or a fancy porch, pay off your debts, or have some spare cash at your fingertips.
Make sure you know how much you can afford to pay back each month!
There are plenty of loan calculators online that you can utilize to calculate how much you will need to pay back each month.
Find out what are the Requirements to Apply for a Loan ?
One of our favorite financial institutions, Yorkshite Bank requires the following from you when applying for a Loan.
- First of all, you need to prove your creditworthiness.
- Proof of address, a recent utility bill, rental agreement or proof of ownership for your home address.
- Proof of Identity, Passport or a Driver’s Licence would be fine,
- Proof of Income, at least three wage slips to prove you have steady income.
All loans to be granted by Yorkshire Bank are subject to specific terms and conditions. The interest rate offered may differ from the Representative APR depending on your creditworthyness. For loans between £1,000 – £25,000 the maximum APR offered will be 29.9%. For loans between £25,001 – £35,000 the maximum APR offered will be 14.9%.
As an representative example, If an applicant decided to borrow £12,500 pounds with a monthly payment of £276.46 for 48 months. Their fixed Annual Percentage Rate or APR interest rate is 3.0%. The payable amount for the £12,500 is £13,269.87.
You can apply for a loan online in just 15 minutes via bank’s website. If you have further questions you can locate a branch and discuss your application with someone.