LL Hero Secondary s LL Hero Secondary

24 Month Loans

Whether you’re looking to consolidate all of your existing loans into one place, or cover an unexpected repair bill, a 2 year loan can be used for a variety of purposes. In order to apply for a 24 month loan, you’ll need to borrow a minimum of £500, or up to a maximum of £5,000.

We understand that sometimes life gets in the way, and that can make managing your finances tricky and you’re looking to borrow a little extra. 24 month loans could be the ideal solution for planned expenses and consolidating existing debts.

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Representative 39.9% APR

Representative 39.9% APR

Representative example

Borrowing £2,000 over 24 months at Representative 39.9% APR and Interest rate 39.9% p.a. (fixed) with monthly repayments of £116.07 and a total amount payable of £2,785.68 This example is for illustration purposes only. The rate and / or term you are offered is dependent on your individual circumstances Rates from 20% APR to maximum 69.9% APR. Loan terms from 12 to 36 months.

How do 24 month loans work?

Unexpected bills such as home repairs can be costly if you need to replace something like a boiler, or a car failing its MOT could cause you to go over your monthly budget. However, Likely Loans may be able to help. We offer 24 month loans for bad credit, so your credit rating may not be an issue, even if you’ve previously been declined for a quick loan elsewhere due to a poor credit history.

LL Hero Secondary

Ready for your personalised quote?

All of our loans – including our 24 month installment loans - are unsecured, so there’s no requirement for you to be a homeowner to apply for a 2 year cash loan, and no guarantor is needed. Plus, if you apply for a quote on any of our online loans, your credit rating won’t be affected until you complete the full online application.

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Representative 39.9% APR

Frequently answered questions

Can I borrow a 24 month loan with a bad credit score?

With the ability to shop around online for different types of loans, getting rejected by your bank isn’t necessarily a problem as lenders like Finio Loans may be able to give you access to bad credit loans despite a low credit score. We understand that while you may not have a perfect credit history, it doesn’t necessarily reflect your position now, so when applying for a 24 month loan with bad credit, lenders will look at your current financial situation and other indicators to decide whether you’ll be able to afford the fixed monthly repayments on the loan.

If you’re worried about being rejected because of your bad credit history, you can check your eligibility with us without having an impact on your credit score. We do soft search credit checks which mean your credit file won’t be affected at this stage. We do soft search credit checks which means your credit file won’t be affected at this stage. Simply enter a loan amount and term into our online loans calculator with a few of your details to receive your personalised loan quote.

Can I get a 24 month loan without a guarantor?

Yes. We offer unsecured loans which mean you neither need to secure your loan against your assets nor need someone else to be a guarantor as part of your online application.

Can I get a 24 month loan with no credit check?

No. As responsible lending is our priority, we carry out credit checks to make sure we aren’t lending to anyone who can’t afford it.

Can I use a 24 month loan to pay off other debts?

Of course, you can use the loan for things like unexpected bills, car financing and home improvements. Debt consolidation can often be a good choice depending on your circumstances. However, we encourage you to work out if consolidation loans financially make sense as sometimes spreading the flexible repayments of a larger amount over a longer term can mean you pay more interest.

What is the criteria to get a 24 month loan?

As with most loan providers, our lender requirements are that you’ll need to be over 18, a UK resident, employed and have a bank account and debit card to complete a loan application. In terms of income, you should be able to comfortably afford monthly payments from your regular income - for example, as a guide, £700 per month would be a minimum. We’ll look at your credit history and personal finances before making our decision.

How long will it take before receiving the 24 month loan?

Applying for any loan with Finio Loans is quick and simple and you’ll find out if you’ll be eligible within minutes. After that, once your application goes through the required checks, if you meet the loan approval criteria, the money could be in your account in just a few hours.

How much will a 24 month loan cost?

Your total amount repayable is dependent on how long it takes you to repay your loan and the APR you’re offered which is based on your personal circumstances, amount and loan repayment period. As an example, borrowing £2000 over 24 months at representative 39.9% APR and interest rate 39.9% p.a. (fixed) with monthly repayments of £116.07 your total amount payable would be £2,785.68

What is an APR?

APR is the annual percentage rate and important for calculating the cost of money borrowed. Interest rates, fees, how often it’s charged and all other costs contribute to the APR. Representative APR is the APR we'll offer to at least 51% of people who are accepted - it's not a guarantee. The remaining customers that are also accepted will be offered a different APR than the one advertised based on individual circumstances. Please note, the APR offered is based on your personal situation and is dependent on many different factors. As such the APR offered may be different from the representative APR.

Will I pay a higher rate if I have bad credit?

Yes, you might. As a lender, we offer our representative APR of 39.9% to at least 51% of customers who are accepted for a loan. If you have poor credit, you may be charged a different rate.

Is a 24 month term right for me?

Once you see what your monthly payments will be as part of your quote, it’s worth judging whether 24 months is still the right repayment term for you. If you find you can actually afford more each month, a shorter term will make the total amount repayable cheaper overall.

How much can I borrow?

For a 24 month loan, you can borrow from £500 to £5,000 and pay back the loan amounts in monthly instalments.

Can I top up my 24 month loan?

You may be able to top up your loan in the future if you become eligible. You can check your eligibility through your online account.