4 Year Loans
A 4 year loan is useful for covering a wide variety of costs, such as helping to pay for a wedding, or to consolidate your debts into one place. With our 4 year loans, you can borrow from £500 to £5,000 with the different types of loans available.
It may be bills that you forgot about, unexpected extra costs like car repairs, or just that you need a little extra funding towards your dream wedding - a 48 month loan could assist in all such situations.
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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 39.9% APR to maximum 69.9% APR. Loan terms from 12 to 36 months.
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How do 4 year loans work?
Generally, a 4 year loan offers lower fixed monthly repayments compared to 1, 2 or 3 year loans and can make budgeting simpler. Much like all our loans, our 48 month loans are unsecured, so you don’t need to be a homeowner to apply. In addition to this, your credit rating won’t be affected when you apply for a quote.
Ready for your personalised quote?
Apply online and receive a fast quote online and find out whether you’ll be accepted for a 4 year loan, all you have to do is enter your personal details to get an instant response on your loan eligibility. Depending on the interest rate at the time of applying and how much you want to borrow, the monthly repayments will be presented.
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Frequently answered questions
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 4 year 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. Simply enter a loan amount and term into our online loans calculator with a few of your details to receive your personalised loan quote.
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.
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.
Of course, you can use the loan for things like moving home costs, car financing, big life moments and home improvements. Debt consolidation can often be a good choice depending on your circumstances. However, we encourage you to work out if it financially makes sense to consolidate your debts as sometimes spreading the flexible repayments of a larger amount over a longer term can mean you pay more interest.
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.
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, we aim to pay your money into your bank account the same day you are approved. During busy times, it may take up to 5 working days.
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.
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.
Once you see what your monthly payments will be as part of your quote, it’s worth judging whether 4 years 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. A lot can change in 4 years, so make sure you’re extremely confident that you will be able to repay the loan for the duration of your chosen loan period.
For a 4 year loan, you can borrow from £500 to £5,000 and pay back the loan amounts in monthly instalments.
You may be able to top up your existing loans in the future if you become eligible. You can check eligibility through your online account.