Welcome to VeryMerryLoans.com, we can help you borrow £100 - £2,000 from 3 - 12 months.

Loans for 3 - 12 months.

Short, simple and fast application process.

Decisions in minutes.

How much you need today?

When can you repay this loan?

1 Months

Borrowing: £1000

Representative APR: 1192%

Repayment By: 5.1.2016

Interest: £58.68

Total Repayment: £1058.68

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Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 12 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). We are a free licensed credit broker, not a lender.

Installment Loans

In the world of 21st century borrowing, installment loans are probably the best known type of personal finance. As the name suggests, they are a way of staggering repayments on a loan in installments, rather than making a single payment to clear a debt in one go. installment loans are popular for a number of reasons and come in useful in a wide range of different situations.

Installment loans vs. payday loans

You’re probably familiar with payday loans so these provide a useful point of comparison with installment loans. While payday loans are normally borrowed for around a month, installment loans have a longer repayment term and you can break down the repayments into smaller amounts so that they are easier to manage with your other monthly outgoings. Payday loans are generally small – several hundred pounds – but with installment loans you can borrow slightly larger amounts. With both installment loans and payday loans, the loan is unsecured, which means that you don’t need to have a house or a car to be able to apply.

Flexible borrowing for the modern world

One of the main reasons installment loans are popular is because they have that added element of flexibility when it comes to repayment. It may put a lot of pressure on your finances to make a single repayment in a short space of time and you may prefer to spread this out so that you can reduce what you pay each month. It’s worth bearing in mind that the longer the term you choose, the longer you are paying interest on the money for, however, if this means that you are not struggling to keep up with the repayments it may be a better option. Missing loan repayments can be stressful and can also damage your credit score and installment loans can help you avoid that happening.

The cost of installment loans

Whether you’re borrowing payday loans or installment loans, guarantor loans or bad credit payday loans, the cost of the loan is often the most important factor. With installment loans you will pay interest on what you borrow but there are usually no other fees to pay. Some lenders may charge a fee if you decide to repay early but many don’t, so even if you borrow money on the basis of a longer-term of repayments, you can often reduce this if your circumstances change. The longer the term you choose for repayment, the more interest you pay so choose a time period that makes the repayments affordable while keeping the interest to a minimum.

The benefits of installment loans

As well as the flexibility of choosing a repayment period upwards of a month, installment loans have all the benefits of a simple – and fast – application process, with quick decisions. Once your loan is approved it is transferred directly to your bank account giving you the same fast access to the cash you need with the ability to pay it back on a schedule that suits you.

Very Merry Example

Loan Amount: £300
Loan Term: 3 months
Interest: £193.96
Total Repayable: £493.96 Apply

Representative APR: 1192%. (variable)
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.