EXPERT RATED

Guarantee	Unsecured Loan
Age Eligibility	21 or over
Income eligibility	Currently be in employment with a regular income
Available to	New or Existing Customers
Residency	UK (Lived at your current address for at least 1 year)
Additional requirements	Have a UK personal bank account
Credit score	All
Interest Rate	Fixed
Amount	£250 to £2,000
Payment Term	18 months to 24 months
Representative APR	679% p.a.

Loans 2Go Personal Loan offers a fast and accessible borrowing option for those in need of quick funds. With loan amounts ranging from £250 to £2,000 and flexible repayment terms of up to 24 months, this loan is designed for borrowers who may struggle to get approval from traditional lenders.

Even if you have a poor credit history, you could still be eligible, making it a viable option for those looking to improve their financial situation.

Applying is straightforward, with a simple online process and quick decisions. Once approved, funds can be transferred on the same day, ensuring you get access to cash when you need it most.

However, as with any short-term loan, it’s essential to review the terms carefully and ensure that the repayments fit within your budget. Let’s dive into the details to see if this loan is the right match for you.

Why Choose Loans 2Go?

When considering a personal loan, it’s essential to find a lender that aligns with your financial needs and circumstances. Loans 2Go Personal Loan offers several features that might make it a suitable option for various borrowers.

Flexible Loan Amounts and Terms

Loans 2Go provides unsecured personal loans ranging from £250 to £2,000, catering to both small and more substantial financial requirements. Repayment terms are flexible, with options of 18 or 24 months, allowing you to select a period that best fits your budget and repayment capabilities.

Accessible to a Wide Range of Borrowers

Understanding that not everyone has a perfect credit history, Loans 2Go considers applications from individuals with poor credit scores or even those with County Court Judgments (CCJs). Each application is assessed on its own merits, focusing more on your current financial situation than past credit issues.

Simplified Application Process

The application process is straightforward and user-friendly. You can apply online by selecting your desired loan amount and providing basic personal and financial information. The eligibility checker offers an instant decision without impacting your credit score, and if pre-approved, you can proceed to complete the full application. Once approved, Loans 2Go aims to transfer the funds to your account on the same day, ensuring quick access to the money you need.

No Early Repayment Fees

Financial situations can change, and you might find yourself in a position to repay your loan earlier than planned. Loans 2Go allows early repayment without any penalties, potentially saving you money on interest. This flexibility provides peace of mind, knowing you have the option to clear your debt sooner if circumstances permit.

Transparent Terms and Conditions

Transparency is crucial when entering into a financial agreement. Loans 2Go clearly outlines their loan terms, interest rates, and repayment schedules, enabling you to make an informed decision. There are no setup fees, and the company provides tools like an online loan calculator to help you understand your potential repayments before committing.

It’s important to note that Loans 2Go’s representative APR is 679%, which is significantly higher than traditional loans. For example, borrowing £550 over 18 months would result in monthly payments of £107.56, totaling £1,936.08 repaid. Such high-interest rates mean these loans are more expensive and should be considered carefully, especially if you’re exploring long-term borrowing options.

Key Features You Need to Know About Loans 2Go Personal Loan

When considering a personal loan, it’s essential to understand the key features to determine if it aligns with your financial needs. Here’s an overview of what Loans 2Go Personal Loan offers:

Loans 2Go provides unsecured personal loans ranging from £250 to £2,000, catering to various financial requirements. Repayment terms are flexible, with options of 18 or 24 months, allowing you to select a period that best fits your budget and repayment capabilities. ​

The application process is straightforward and user-friendly. You can apply online by selecting your desired loan amount and providing basic personal and financial information. Once accepted, you can expect the money in your bank account within 15 minutes, provided you apply during office hours. ​

Loans 2Go Personal Loan offers flexible repayment options, allowing you to choose between weekly, fortnightly, or monthly instalments, depending on when you get paid. This flexibility enables you to align your loan repayments with your income schedule, making it easier to manage your finances.

Financial situations can change, and you might find yourself in a position to repay your loan earlier than planned. Loans 2Go allows early repayment without any penalties, potentially saving you money on interest. This flexibility provides peace of mind, knowing you have the option to clear your debt sooner if circumstances permit. ​

It’s important to note that Loans 2Go’s representative APR is 679%, which is significantly higher than traditional loans. For example, borrowing £550 over 18 months would result in monthly payments of £107.56, totalling £1,936.08 repaid. Such high-interest rates mean these loans are more expensive and should be considered carefully, especially if you’re exploring long-term borrowing options.

Is This Personal Loan What You Need? Weigh Up the Pros and Cons

When considering a Loans 2Go Personal Loan, it’s essential to evaluate both the advantages and disadvantages to determine if it’s the right fit for your financial needs.​

Pros:

• Quick Access to Funds: Loans 2Go offers a streamlined application process, often providing funds within 15 minutes of approval. This rapid turnaround can be beneficial in urgent financial situations.​
• Flexible Repayment Options: Borrowers can choose between 18 or 24-month terms, with the ability to make weekly, fortnightly, or monthly payments. Additionally, there are no penalties for early repayment, allowing you to save on interest if you settle the loan ahead of schedule.​
• Consideration for Poor Credit Histories: Loans 2Go may approve applications from individuals with less-than-perfect credit scores or those with County Court Judgments (CCJs), focusing on current financial circumstances rather than past credit issues.​

Cons:

• High-Interest Rates: The representative Annual Percentage Rate (APR) is notably high, at 679%. For example, borrowing £550 over 18 months would result in monthly payments of £107.56, totaling £1,936.08 repaid. Such high-interest rates can significantly increase the overall repayment amount.​
• Limited Loan Amounts: Loans are available from £250 up to £2,000. If you require a more substantial sum for significant expenses, this range may not suffice.​
• Mixed Customer Reviews: While some customers appreciate the efficient service, others have expressed concerns about the high cost of borrowing. It’s advisable to research and consider these experiences before making a decision.​

In summary, a Loans 2Go Personal Loan can offer swift financial relief, especially for those with challenging credit histories. However, the high-interest rates and limited loan amounts necessitate careful consideration. Ensure you assess your repayment capability and explore alternative lending options to make an informed choice that aligns with your financial well-being.

You Qualify? Essential Criteria to Apply for Looking for a personal loan with easy approval? Loans 2Go Personal Loan

Applying for a personal loan with Loans 2Go is straightforward, but it’s crucial to ensure you meet their eligibility criteria before proceeding. Here’s what you need to know:​

Applicants must be at least 21 years old. This age threshold ensures that borrowers have attained a level of financial independence and responsibility necessary for loan commitments.​

You must be a current resident of the United Kingdom. This residency requirement aligns with regulatory guidelines and enables Loans 2Go to assess applicants within the UK’s financial and legal framework.​

A stable source of income is vital. Applicants should be employed with a regular income, demonstrating their ability to meet repayment obligations. This criterion underscores the importance of financial stability in the lending process.

An active UK bank account with a debit card is necessary. This facilitates the seamless transfer of loan funds and enables the setup of automated repayments, ensuring convenience for both parties.

Loans 2Go adopts a flexible approach towards credit histories. Even if you have a poor credit history or existing County Court Judgments (CCJs), your application may still be considered. The focus is more on your current financial situation than past credit issues, offering opportunities to those aiming to rebuild their credit profile.​

Application Process

1. Eligibility Check: Begin by using Loans 2Go’s free eligibility checker. This tool provides an initial assessment without impacting your credit score, allowing you to gauge your chances of approval.​
2. Application Form: If pre-approved, proceed to complete the full application form, providing detailed personal and financial information.​
3. Credit Assessment: At this stage, a formal credit check is conducted to evaluate your financial standing and ensure the loan’s affordability.​
4. Approval and Funding: Upon approval, loan funds are typically transferred to your bank account on the same day, subject to application timing and processing.​

Repayment Structure

Loans 2Go offers flexible repayment options:​

• Loan Amounts: Borrow between £250 and £2,000, depending on your financial needs and eligibility.​
• Repayment Terms: Choose between 18 or 24-month terms, allowing you to select a duration that aligns with your financial plans.​
• Payment Frequency: Repayments can be scheduled weekly, fortnightly, or monthly, providing flexibility to match your income cycle.
• Early Repayment: There are no penalties for early repayment, enabling you to reduce interest costs if you decide to settle the loan ahead of schedule.​

While Loans 2Go provides accessible lending options, it’s essential to be aware of the high-interest rates associated with their loans. The representative APR is 679%, which is significantly higher than traditional loans.

For example, borrowing £550 over 18 months would result in monthly payments of £107.56, totaling £1,936.08 repaid. Prospective borrowers should carefully assess their ability to meet these repayment obligations to avoid financial strain.​

Loans 2Go offers a viable solution for individuals seeking quick access to funds, especially those with less-than-perfect credit histories. By understanding and meeting the eligibility criteria, and thoroughly considering the loan terms, you can make an informed decision that best suits your financial circumstances.

Finally, Here’s How to Apply

Applying for a Loans 2Go Personal Loan is quick and hassle-free. First, ensure you meet the basic criteria—you must be at least 21 years old, a UK resident, and have a regular income with an active UK bank account.

The process begins with a simple online application, where you select your loan amount and repayment term. A quick eligibility check is carried out without affecting your credit score. If pre-approved, you’ll complete the full application, including a formal credit assessment.

Once approved, funds are typically transferred within minutes, provided the application is completed during business hours. Repayments can be made weekly, fortnightly, or monthly, giving you flexibility to match your income schedule.

There are no penalties for early repayment, allowing you to clear the loan sooner if you wish. Before applying, double-check that the loan terms fit your budget.

​If the Loans 2go Personal Loan doesn’t quite fit your needs, consider the First Direct Existing Customer Personal Loan. Exclusively available to First Direct current account holders, this loan offers competitive rates, with a representative APR of 5.9% for amounts between £10,000 and £30,000.

	Loans 2go Personal Loan	First Direct Existing Customer Personal Loan
Credit Score	All	Good
Representative APR	Representative example – If you borrow £550 over 18 months with a representative 679% APR you will make 18 monthly payments of £107.56, repaying £1,936.08 in total	Representative example: Borrow £4,500.00 over 3 years at a rate of 9.9% p.a. (fixed). Representative APR 9.9% and total payable £5,187.60 in monthly repayments of £144.10
Loan Amount	£250 to £2,000	£1,000 to £50,000
Terms	18 months to 24 months	1 year to 8 years

You can borrow from £1,000 up to £50,000, repayable over 1 to 8 years, providing flexibility to suit your financial situation.Moreover, First Direct allows overpayments without penalties, enabling you to reduce the overall interest payable. The application process is straightforward, and if approved, funds are typically transferred promptly.

Looking for another option? The First Direct Personal Loan offers competitive rates and flexible terms, exclusively for existing customers. With loan amounts ranging from £1,000 to £50,000 and repayment periods up to 8 years, it’s designed to suit various financial needs.

Plus, you can make overpayments without penalties, potentially reducing your interest. Consider exploring this alternative to find the best fit for your circumstances.