Over 12–60 months to pay, even with poor credit! Make on-time payments and reduce your rate
1Plus1 Personal Loan: Borrow £1,000–£5,000 with Rate Reductions
Need a reliable loan? 1plus1 Personal Loan offers up to £5,000 with flexible repayment terms and a simple online application. No guarantor needed—just quick decisions and fair rates
Check Your Eligibility
You will remain in the same website.
Need a reliable loan? 1plus1 Personal Loan offers up to £5,000 with flexible repayment terms and a simple online application. No guarantor needed—just quick decisions and fair rates
Check Your Eligibility
You will remain in the same website.
Curious about what makes 1Plus1 stand out? Here are some key perks:
Borrow £1,000–£5,000
Unsecured Loan Option
Rate reductions for punctual payments
No early repayment fees
Check Your Eligibility
You will remain in the same website.
Advantages and Disadvantages of the 1plus1 Personal Loan
Pros:
- Rate reduction incentives: Make six consecutive on-time payments and enjoy a reduced interest rate, rewarding your financial discipline.
- Flexible loan amounts and terms: Borrow between £1,000 and £10,000 with repayment periods ranging from 12 to 60 months, allowing you to tailor the loan to your needs.
- No early repayment fees: Feel free to repay your loan early without incurring additional charges, giving you financial flexibility.
- Consideration for diverse credit profiles: Applicants with less-than-perfect credit histories are welcome, broadening access to necessary funds.
Cons:
- Initial higher interest rates: Starting APR is 39.9%, which is higher compared to some traditional lenders.
- Late payment consequences: Missing a payment resets your progress toward interest rate reductions, potentially prolonging higher interest costs.
- Limited loan amounts: Maximum loan amount is £10,000, which may not suffice for larger financial needs.
FAQ
A personal loan is a fixed amount of money you borrow and repay over a set period with interest. Think of it as a financial helping hand—minus the awkwardness of asking friends or family for cash. You borrow, you repay in fixed monthly instalments, and at the end of the term, it's all squared away.
Yes! Some lenders, like 1Plus1, specialise in loans for people with less-than-perfect credit. They assess your affordability rather than just your credit score. So, if your financial history isn’t exactly spotless, don’t panic—there’s still a chance to get approved.
Once approved, funds are typically transferred within one working day. That means you can stop checking your bank account every five minutes—but, you know, feel free to do it just in case.
Yes, but it depends on how you handle it. Applying for a loan usually involves a hard credit check, which may lower your score temporarily. However, if you make repayments on time, it can actually help build your credit rating over time.
Absolutely! Some lenders allow early repayments without penalties, so if you suddenly come into some extra cash (no questions asked), you can clear your loan faster and save on interest. Just check the terms before making big moves.
Check out another tip for an excellent Personal Loan
Recommended Content
Toot Personal Loan
Looking for a hassle-free loan? Toot Personal Loan provides affordable, unsecured personal loans with a simple online application. Borrow between £1,000 and £5,000 with flexible repayment options to suit your needs.
Keep Reading
You will remain in the same website.