Cheap loans from LoanPig can allow you to resolve any short term cash flow issues you may be experiencing. We offer a fast application process, allowing you to proceed with the application of cheap loans in the UK as quickly as possible. You are enabled with a flexible application process where you can choose the cheap interest loan amount you wish to borrow up to £1500, along with a repayment period between 2 and 12 months.

If the current financial issue you are facing is a short term issue and you have the affordability, we can forward your application on to our panel of lenders, including ourselves as a direct lender and broker. If you think quick cheap loans sound right for you, click apply now for a cheap loan online. Once your application has been approved, you could well have the funds to use on the very same day.

What Are Cheap Interest Loans?


Cheap interest loans at LoanPig are the quick solution to your current financial difficulties. Similar to payday loans, quick cheap loans can help you resolve your financial crisis in the short term. When we refer to cheap loans, or cheap APR loans, we are referring to the affordability of a loan determined on its interest or APR rate. Cheap loans online may be of great benefit to you if you have a short term cash flow issue, and you may be able to reap the benefits of cheap loans online.

By following our online application form, you will be able to choose the amount of money you need and the repayment term to suit your personal circumstance. We will provide you with details regarding how much will need to be repaid, with a breakdown of the monthly repayment plan explained in detail.

What Is APR?


APR, or annual percentage rate, is the official rate used to help you understand the overall cost of borrowing. APR takes into account the interest rate and any additional charges of a loan. This is a legal requirement, and you can find out more on the website for the Financial Conduct Authority (FCA). APR is calculated to ensure all costs of borrowing are included. Loan company APR rates will include the interest costs and all associated fees over a 12-month period. This makes it much easier to compare different lenders, as APR rates across different lenders will vary considerably. It’s worth noting that APR only includes compulsory charges. Some fees, such as payment protection, may not be taken into account, so you should always read the terms and conditions carefully before applying for credit. APR also doesn’t cover any fines for late payments or going over your credit limit.


LoanPig 149% loans


Why Might I Need A Cheap Interest Loan?


We are approached by our customers for quick cheap loans for a variety of reasons. Whether it is an unexpected expense such as an immediate repair, an unforeseen bill payment or any other kind of unanticipated debt. A cheap APR loan is generally an excellent short term solution with a comparatively low payback amount. Although cheap loans can be an ideal solution for a quick fix situation, they should not be used for any longer-term financial issues you may be experiencing. If you are facing any issues with long-term debt or money concerns, you should reconsider cheap loans in the UK for your current situation. If you are unsure that you will be able to pay the money back according to the agreed schedule or feel that your finances are insecure, perhaps quick cheap loans aren’t the best option.

How Much Would You Like?

Representative example: Borrow £300 over 3 months @ 292% pa (fixed) Total repayment: £457.95 in 3 monthly payments of £152.65. Representative 1261% APR.

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Why Choose LoanPig For Cheap APR Loans?


Cheap loans in the UK at LoanPig are a prime choice for a quality of reasons. Cheap interest loans can cover any emergency immediate costs you may have, allowing you to benefit in the short term.

As responsible lenders, we have to ensure that your motivation for cheap loans can be supported by your finances. As we work to FCA guidelines, along with our panel of cheap APR loan lenders we can connect you with, your application will be subject to a full credit check and careful assessment of your finances. As part of our commitment to transparency with your application, we work to several rules:

– LoanPig charges a maximum interest of 0.8% per day.

– LoanPig can only charge a one-time late penalty fee of £15.

– LoanPig ensures that customer will never pay more than double the amount they borrowed.

– Cheap APR loans at LoanPig are fixed at an APR of 292%.

If we can approve your cheap loan application, you can expect a quick pay out and the exact financial support you need in an instant.

FCA price cap for HCSTC loans

Am I Eligible For Cheap Loans In The UK?


All applicants who desire a quick cheap loan will be required to prove their affordability through an income assessment and credit check. If you are approved, you’ll either complete your application with us, or through one of our lending partners’ own website.  To be eligible to apply for a cheap interest loan, you will need to:

– Be a current UK resident.

– Be at least 18-years-old.

– Have an active bank account and valid debit card.

– Either be in permanent employment or receiving some form of disability/living allowance or a pension.

As a broker, LoanPig uses a panel of lenders, who are often prepared to lend to clients who have a low credit score. With cheap loans in the UK, all loan applications are subject to a full credit check, but your credit score is not the only criteria used for consideration.

If you have any further concerns regarding prior financial difficulties, you have a bad credit rating or have never borrowed before, you don’t need to worry, we will be assessing your current affordability, rather than dwelling on the past. Cheap APR loans can provide a lot of flexibility when it comes to what loan amount you wish to borrow. Allowing up to £1500 for a maximum of 12 months, this can vary between lenders, which is why when you apply, we’ll match you to the best offers for quick cheap loans in an instant.

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Cheap Loans FAQs

Can I Apply for Cheap Loans Without a Credit Check?

If you have bad credit, it is still possible to apply for cheap loans in the UK with LoanPig. You will need to undergo a credit check, but this is not the be-all and end-all and we use other criteria such as your current affordability rather than fixating on the past and penalising you for previous action that may have resulted in your credit score being low. No lender can legally provide you with a loan without a credit check and a credit check ensures not just the lender is protected, but you are too. We simply need to ensure you can make the repayments you have applied for as a responsible lender.

Are Cheap Loans Online Right For Me?

FCA regulated payday loan lenders are there to help you resolve an emergency situation if you can’t do so through over means. They provide essential funding for situations that arise unexpectedly and can be a theoretical lifesaver for some who use them properly. One of the first things you should do before applying for cheap loans is think about whether or not you actually need it. Those who need to pay for something considered time-sensitive could benefit greatly from taking one out, as long as you can afford to repay it.

How Quickly Will Cheap Loans Online Pay Out?

If you are accepted by us or one of our lenders for quick cheap loans, then you should receive the money into your bank account the same day, sometimes within a couple of hours (on average). If your application is made and approved after 3pm during working days or at a weekend or bank holiday, the funds will transfer to your bank account the next working day.

How Can I Get the Best Cheap Loans?

To get the best deals on cheap short term loans, you’ll need to ensure that your credit rating is in the best possible shape. The higher your credit score, the better your chances of being approved for cheap loans. The very best deals are reserved for applicants that can demonstrate good credit and high affordability. If you do have fair to bad credit, you may find you can still get cheap loans. However, the interest rates may be slightly higher. You’ll need to consider your situation to have the best chance of getting approval for a loan with the best loan terms.