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The Ease of Installment Loans

Loans have become a preponderant part of our lives; going through life without ever getting one is next to impossible.

From acquiring education to buying your first home, every major milestone in people’s lives is somehow built on the foundation of loans.

Majority for the loans the borrowers take comprise an amount that they cannot manage to pay for entirely from their pocket at once.

Imagine, if the repayment were to be made in a lump sum, how the loan was procured, but with the addition of interest, would you be able to repay the amount?

Most of the borrowers would not answer in an affirmative, because it isn’t possible.

24cashfinances understands this well enough, and through its understanding, the team has devised a loan that focuses explicitly on installments as the repayment mechanism.

Our small installment loans for bad credit people are the most popular as well as most availed loan for this particular reason.


Understanding the Working of Installment Loans

You might think that majority of the loans that are available in the markets fall into the category of installment loans. You are somewhat right to think that.

However, installment loans are a separate category altogether, wherein you get the lump sum of the loan amount to use for any purpose you may deem fit.

The main principle behind these loans is the convenience of the borrower. This convenience and ease rely on the repayments decided by the borrower himself.

For instance,

Borrower A needs a loan of £5,000, so he applies to 24cashfinances and procures the same. The repayment of the borrowed amount is decided by the A and not by us.

  • If he wants to make monthly installments instead of weekly, he can through our monthly installment loans on doorstep facility, which other direct lenders do not provide.

  • If he is not comfortable with paying a higher installment of £1,000, he doesn’t have to.

  • If he thinks an installment plan for 12 months is appropriate for him instead of 15 months, he can opt for the former.

Do you see the level of convenience the borrower gets through a loan like this?

Installment loans are the only category of loans, wherein the borrower holds the reigns to decide the terms and conditions for the entire tenure of the loan

In this category of loan, especially bad credit installment loans from the direct lenders in the whole of the UK, you would find;

  • Flexibility in Repayments;

  • Lender Comprehension of Your Financial Situation;

  • And the Accommodation of Your needs with these.

“24cashfinances can proudly boast of doing all of these 24 hours a day and seven days a week. You can apply for a loan in the wee hours of the night, and by the dawn of next day, you will have your loan amount in your bank.We take the 24 very seriously in our name, as should you”.

Knowing how much and for how long can you get an Installment Loan

Since Installment loans is a specific category of loans, certain terms need to be adhered to.

These terms concern the loan amounts and tenure.

The borrower can avail a loan from £1,000 to £10,000, depending upon the current financial needs and capacity.

The borrower can take this amount for a couple of months to as many as 24 months. It would be apt to say that Installment Loans fall into the category of Short-term Loans.

As a responsible lender, we feel it is our duty to tell you that higher loan tenure would mean additional interest. For us, it would mean more profits surely, but for you, it would denote a kind of loss, so you must choose the tenure keeping in mind this small detail.

Why let Poor Credit be a hindrance?

Poor credit has, unfortunately, become quite prevalent in modern times. The consequence of the same is the unavailability of credit for these people

However, slowly and steadily, direct lenders, like 24cashfinances, have started catering for the borrowers with Poor Credit by providing Installment Loans.

We have become a pioneer for poor credit needs because of limited obligations.

  • Soft Credit Checks

    We do perform a credit check process, but in a soft way, to evaluate the creditworthiness of the borrowers.

    Installment loans from direct lenders with no credit check are quite in demand. We cannot provide the same but vouch for providing loans at the interest rate that are the most affordable in the market.

  • No Guarantors

    The obligations of a presenting a guarantor is too much for someone with poor credit in his corner.

    For the convenience of the borrower, we have removed this requirement as well.

Installment loans for bad credit from direct lenders only and with exemptions like no guarantor are difficult to find and procure. However, 24cashfinances has provided up to 10,000 loans falling under this category and will continue to increase this number.

As long as you have a stable income source that can comfortably accommodate the repayment of the procured loan, we would never reject your application.


What are the prime examples of installment loans?

There are various types of installment loans. The most common are auto loans, mortgages and personal loans. If you don’t have any idea about this, then you can read further to understand this loan one by one.
  • Auto Loan This loan is considered as an installment loan and a person uses this one to purchase a new vehicle. You can repay the amount in monthly installments which range from 12 to 90 months and direct lender gives you that loan on flexible features and multiple benefits.
  • Mortgages This loan is used for buying a house and repayment term may vary from one lender to another. And most of them come with a fixed interest rate.
  • Personal Loan You can use this loan for various purposes such as paying unexpected expenses or consolidate debts. And many lenders in the UK provide this loan without any collateral.

How Can Installment Loans Benefit to My Credit Score?

In installment loans, you have to borrow a certain amount from the online lender and you have to repay the loan in a set of time which is fixed by the lender mostly it is monthly. Because of flexible repayment, you can easily pay off the loan within a given time. If you will able to do this then this will give you benefits. And this benefit will reflect on your CREDIT REPORT. This credit report is compiled by Equifax or Experian and eventually, it will help you to improve your credit score. A good credit score means you will get loan approval easily with much less interest rate or APR as compared to loans with bad credit.

Can I Make Early Payment of Installment Loans?

Yes, you can pay off your loan early without any issues but many lenders in the UK may charge some extra fees but 24cashfinances charges very less as compare to other online loan providers. Usually, most of the borrowers do not want to pay their loan early because it can cost them badly but due to some certain circumstances, it becomes an obligation for you. As a responsible lender, we can understand your financial concern and make the necessary arrangements. But it would be better for us if you inform us well before so that it won’t become hectic for us. We do charge some fees for the early repayment but it will not cost too much to your pocket. We are here for better communication.

How long it exactly takes to get the approval for instalment loans?

With the easy and simple application procedure of 24cashfinances, you only have to spend a maximum of only 5 minutes in order to fill the form where you will have to provide your basic details. Here, you can get up to £5000 on Installment loans for bad credit people and that too at a highly competitive price rate. After you have submitted the online form, the lending team will go through the details and the requested amount will be disbursed on the same day of the approval. You won’t be asked to provide any collateral or present any guarantor in order to get the approval of the loan. Also, there is a possibility to get the loan even if you have bad credit.

How to check the status of my instalment loan application?

Well, if you have applied at 24cashfinances for an instalment loan, then you don’t have to worry at all. Here, you get the benefit of customer support service that is available for 24*7 and a team of experienced members who can solve all your issues at an earliest. So, if you want to know the status of your loan application, then all you need to do is contact the support team and speak all your concerned matter. The highly skilled team will let you know the exact date and time when you are expected to get the amount on your bank account. Also, you can directly mail your queries or doubts to the support team who will respond quickly after your mail is being received from the other end.

Can I change the amount of my payment in Instalment loans?

Basically, in an instalment loan, the borrower has to pay the entire debt on monthly instalment that is decided by the lender and borrower with a mutual discussion. However, if you think that your financial status is not good for a particular month and you will not be capable to pay the repayments, then you could approach your lender and discuss the issue. If there is a possibility, the lender might lower down your lower or even hold your instalments for a certain amount of time, but you could have to pay extra later and you might even charged an additional fee depending on the lender whom you are dealing.