18 Month Loan

£
Representative APR of 79.5% (fixed)

Here's an example to illustrate: If you borrow £1000 for 12 months, your monthly payment will be £123.40. The total amount repayable will be £1480.80, including £480.80 in interest. The interest rate is 79.5% (fixed).

Interest rates range from 23.6% APR to 1721% APR. You can request a quote without any obligation. The APR you receive will depend on your personal circumstances. Our loans are available for amounts between £100 and £5000, with terms ranging from 3 months to 36 months

Please note that we are not a direct lender. we offer a loan matching service. We connect you with lenders to find the best loan for you. There's no fee to use our service, but a small number of services introduced through our platform may include a monthly fee. We might earn a commission for us referring you to them.

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No matter how much you try to manage your finances, unexpected bills can cause a massive disruption. That’s when an 18 month loan can provide you with much-needed funds. You could use the loan to pay for anything from car repairs to vet bills and household bills.

Here at Tendo, we’re a transparent broker rather than a direct lender. This means that we can help match you with our panel of lenders based on your personal and financial circumstances. We want you to be fully informed when it comes to your financial decisions, so we’ve created this guide to help you decide whether an 18 month loan is the right choice for you. You’ll discover what an 18 month is, if it’s the best option for you and how to apply for one.

What are 18 month loans?

An 18 month loan is a type of short term loan that can give you fast access to funds. Key characteristics of an 18 month personal loan include:

  • Short term repayment term: repay the loan over an 18 month period.
  • Small loan amount: borrow between £100 and £5,000.
  • Online application: easily apply online.
  • Higher interest rates: typically higher interest rates than other traditional loans.

The 18 month loans are paid directly into your UK bank account and can be used to cover urgent financial expenses. Our panel of lenders typically prefer loans to be repaid in monthly instalments as opposed to one lump sum. However, we do work with all sorts of providers, so you should be able to find an 18 month loans direct lender to suit your needs.

What to use your 18 month personal loan for?

An 18 month personal loan can help cover various expenses, from vehicle repairs to urgent home repairs such as plumbing, heating, or roof repairs. You can also use an 18 month personal loan to pay for appliances and furniture, along with moving or relocation costs such as removal companies.

Ideally, you should use 18 month loans to pay for essential expenses, rather than luxury purchases. You should also avoid using the 18 month loan to pay off other loans, as this can lead to a cycle of debt. We advise against applying for multiple loans at once; not only could this affect your credit score, it could also lead to some large debt.

Will having a poor credit history stop me from getting 18 month loan for bad credit?

Our panel of lenders consider applicants with all credit types. This means you could be approved for an 18 month loan with bad credit, even if you have been turned down by other lenders elsewhere. Our lenders will assess your application before considering whether you are eligible for loans for bad credit.

Requirements for 18 month loans

Our lenders have several lending eligibility requirements that you should meet before you consider applying for an 18 month personal loan. You must:

  • Be at least 18 years of age
  • Be a UK resident
  • Have a UK bank account (that your salary is paid into)
  • Have a net salary of at least £500 per month
  • Have a valid phone number and email address

It’s important to remember that meeting all the above criteria doesn’t guarantee that you’ll be approved for an 18 month personal loan. Each 18 month loans direct lender reviews applications individually based on financial factors.

Choosing the right loan for you

When you’re considering an 18 month loan, you need to think about how much you can afford to repay. You’ll need to factor in your current monthly budget and your essential spending, such as your household bills and mortgage or rent.

Our panel of lenders offer loans ranging from £100 to £5,000, with repayment periods ranging from 3 to 36 months. You can apply for a loan quote based on how much you want to borrow and your preferred repayment period. Our panel of lenders may also be able to offer you an 18 month loan for bad credit, even if you have been turned down for loans elsewhere.

What to do if you’re struggling with debt

While 18 month loans can offer you access to urgent funds, it’s important to consider whether they’re the best option for you. If you feel you are struggling financially, we suggest you contact the following specialist advisors who can offer you help and advice:

  • MoneyHelper - They can help you make a budget and understand how money works. You can find them online by following the link or call them.
  • Step Change - They help people who have a lot of debt. They can make a plan to help you pay it back.
  • National Debtline - They give free advice about debt over the phone or online. They can tell you your rights.

Remember, it's okay to ask for help! Taking out a loan is a big decision. Make sure you understand everything before you sign anything. Your money is important!

FAQs

It depends on the lender and the type of loan you have been approved for. However, you could receive your 18 month personal loan within 10 minutes in some cases.
It depends on whether you repay the loan on time and in full. Missing or being late with repayments could negatively affect your credit score. Equally, paying your loan back in full and on time could help your credit score improve. It might also help you to get approved for future loans more easily.
You’ll need to directly contact your lender to see whether you can repay the loan early. In some cases, the 18 month loans direct lender may charge an early repayment fee.
You may not have met the eligibility criteria or your application may have been missing required information. Make sure to check over your application to see if there is anything you need to add. Unfortunately, we aren’t told why lenders have rejected applicants and therefore can’t offer any advice on this issue.
If you think you may miss or will be late with a repayment, you need to reach out to your 18 month loans direct lender as soon as possible. They will be able to discuss your options with you and may offer alternative arrangements to help you get back on track. If you don’t contact your lender, you may be faced with late penalty fees and your credit score could be negatively impacted.

Get a quote in minutes

Borrow from £100 - £5,000

£
Representative APR of 79.5% (fixed)

Here's an example to illustrate: If you borrow £1000 for 12 months, your monthly payment will be £123.40. The total amount repayable will be £1480.80, including £480.80 in interest. The interest rate is 79.5% (fixed).

Interest rates range from 23.6% APR to 1721% APR. You can request a quote without any obligation. The APR you receive will depend on your personal circumstances. Our loans are available for amounts between £100 and £5000, with terms ranging from 3 months to 36 months

Please note that we are not a direct lender. we offer a loan matching service. We connect you with lenders to find the best loan for you. There's no fee to use our service, but a small number of services introduced through our platform may include a monthly fee. We might earn a commission for us referring you to them.

Why Use Tendo?

It's a no brainer

No fees, no obligation, no worries

no fees
No Fees

Borrow up to £5,000 and pay no fees

no paperwork
No Paperwork

Complete your application online in just a few moments

no obligation
No Obligation

Get a quote in just a few clicks with no obligation

credit types
All Credit Types

All credit types are considered

quick transfer
Quick Transfer

Funds can be transferred direct to your bank quickly

flexible
Flexible

Borrow for up to 36 months and repay with easy monthly repayments

Who We Work With

Trusted lenders you'll love

We work with over 50 UK lenders, our aim is to find you the lender that is available to lend you what you need today. You're in safe hands