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Representative example: £5,000 over 5 years at 16.9% APR representative. Rate of interest 16.9% fixed. Monthly repayment £120.85. Total charge for credit £2,251.00. Total amount repayable £7,251.00
Representative Example: Borrow £700 @ 12 months at £111.27 per month, total repayment of £1335.24, Interest £635.24, Interest rate 140% p.a.
Representative 277.5% APR (Variable). APR rates range from 45.3% APR. to 1575% Max APR. Your APR rate will be based on your circumstances.
The 3 best 300 loans that you can consider in the UK today
Looking for a quick and reliable means to put an extra 300 pounds in your pocket right away? If you are, then there are a number of short-term loans in the UK that you can count on. These types of 300 loans are designed to provide instant funding with payment structures that can be completed in a short span of time making them great solutions to numerous different temporary cash needs and shortages.
Now if you are considering taking out 300 loans in the UK, below are three of the best options that you might want look into.
1.) Short-term Cash Advances
Short-term cash advances are the most popular 300 loan options in the UK. The financial products are offered in small amounts, no more than a thousand pounds, with short-payment terms that can last a single or couple of weeks but can also extend for as long as three months depending on the lender. Because the borrowing amounts are not large and the payment terms not that lengthy, the 300 loans tend to have higher interest rates.
The good thing is that you don’t need to have a particularly strong credit rating to become qualified for the short-term cash advances. As long as you have an active UK bank account and have a monthly income that is appropriate to the loan’s payment terms and conditions, you would become eligible for the financial products.
When you are looking to take out the type of 300 loans, the most important point to bear in mind always is that you, the borrower, will generally have to pay back the 300 pounds in one single, lump-sum payment on an agreed period of time. Simply put, you will need to pay the entire amount plus its interest rates once the loan is due. Normally, lenders will tailor the payment schedule on your monthly earnings or on your next payday.
Majority of lenders providing the types of 300 loans certainly give borrowers the option to extend the payment date of their loan but it often comes with a fee. For this reason, it would be best to stick to your payments on the agreed terms and conditions so you won’t have to bear possible extra fees, charges, and penalties.
2.) 300 instalment Loans
The extremely short-payment durations of cash advances can sometimes be too difficult for many borrowers to follow. If you are looking for a bit more time to pay off the money that you borrowed, the better option with be through a short-term instalment loan. The 300 loans can be spread in three months or sometimes longer which means that you will be paying no more than 100 pounds plus interest rates every month until you have cleared your entire debt. What’s more, instalment type 300 loans have cheaper interest rates than their cash advance counterparts making them a lot easier to budget.
Bear in mind however, that the more months you add on your payment term, the costlier it would be for you in the end since every added month consequently brings in extra interest rate payment. It certainly sounds appealing to opt with the longest term available as it allows you to spread the loan even further making them easier to cover as they will only be eating a smaller portion of your monthly budget. However, if you want to save more from reduced interest rate payments, the best route would be to choose the shortest term that is reasonable to your monthly earnings and outgoings.
3.) Doorstep Loans
Also widely referred to as home credit loans, the 300 loans are the most convenient forms of unsecured short-term loans in the UK. This is because doorstep loans can give you 300 pounds right at your home without you moving an inch away from it. You simply don’t have to because one of the doorstep loan lender’s very own staff will come to your home to deliver the approved 300 pounds worth of credit. The person will also be the one to visit your home to collect the payments of your loan every week or on a fortnightly basis depending on the agreement.
In addition, these types of 300 loans allow borrowers to enjoy the exclusive privilege to discuss any and all concerns about the credit agreement to a real person on a face to face basis. If you are someone who prefers this kind of arrangement, then doorstep loans will surely suite you best. The FCA strictly mandates doorstep loan lenders to have their representatives carry official ID’s so borrowers will know that they are indeed the legal person to talk to.
And if you find a reputable doorstep loan lender, you will be able to enjoy favourable deals and reasonable interest rates. Hidden charges and unnecessary fees are non-existent, and you can easily reach out to your lender or representative if there are any problems and concerns that come to mind about your loan.
Be responsible in using 300 loans
No matter how careful we are with our finances and in managing our monthly budget, there are times when an unforeseen bill or expense suddenly pops out and leaves us in temporary financial disarray. If you need some financial protection against the unexpected events in life, 300 loans can be great solutions to consider.
But whether it’s a short-term cash advance, instalment loan, or doorstep loan, a loan is still a form of debt that’s why you need to make sure to use them only when necessary. Be wise and responsible in your decisions and always take your time to shop around and compare as much options as you can before you jump on a potential deal.
And finally, make it a point to stick to your payments on the agreed terms and conditions, review the fine print before you sign the loan agreement, and never take out a loan amount that is beyond your level of affordability. Missing out or defaulting from your loan can cause serious damages to your credit history and this in turn will prevent you from taking out numerous different loan products in the future.
5 most recent personal loan reviews
Great team at credit star. Helped me out a few times with no bother at all! The new expense calculator is a great way to speed up the application too! A quick phone call to confirm some bank details and the money was in my guarantors bank in hours! Brilliant service, thanks you stars!
Review posted by Ian Yeates, Pocklington
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Loans Hub are seriously good at what they do. I knew I would struggle to get a loan as have poor credit history although I work full time. My sister was happy to be my guarantor as she knows I would never leave her to pick up my debt.. that's the key to loans hub loans and why they work so well. From start to finish the process was professional and easy. I never leave feedback for anything however I felt so strongly that I should share my positive experience.... just go for it, you won't regret it!!
Review posted by Emma Maguire, Darlington
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Money made simple - M&S complete all the necessary background checks, even though it may seem a lot, it is not. Its made simple by an efficient team of advisers. Money is drawn down by the underwriting team within an acceptable time frame of 2 working days. I spoke with a guy called Michael over the telephone and he was able to discuss my top up loan and within a matter of minutes the loan application was completed. Great service all round.
Review posted by Connor Brewer, Cheltenham
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