Borrow £500 Loans With 24 Hour Funding Available

Our customers will often use a £500 pound loan to pay for emergencies, with the intention that receiving the money upfront will cover their immediate bill and they have the flexibility to repay the loan and interest over several months.

Reasons to borrow £500 include paying for:

-Car repairs and fuel

-Household repairs

-Household bills

-Rent

-Medical bills

-Funeral expenses

-Child expenses

Our loans are designed to be used for emergency purposes and not for leisure such as shopping or holidays.

Based on a £500 loan from The One Stop Money, repaid over 12 months at 295.60% APR:

Total borrowed: £500.00

Monthly interest: £81.25

Total interest: £475.00

Total repay: £975.00  

Our £500 loans are repaid in equal monthly instalments over 6 to 24 months. We are a payday loan alternative and offer instalment loans that allow customers to spread repayment over time and give them more breathing space.

The repayment amount is the exact same every month which allows you to budget and plan for collections easily.

All collections will take place on a date that you select, which is usually the last working day of the month or your payday from work. This ensures that you have ample funds in your account that are ready for collection.

Your repayments are collected automatically via our system known as continuous payment authority, which is similar to a direct debit. It means that you do not have to make manual repayments, call up or go to the bank because this is set up automatically for you.

Whilst you might choose to borrow £500 over 6 months, 12 months or 24 months, it is important to note that more interest will accrue the longer your loan is open and will make the loan more expensive.

Yes, we can offer £500 loans for people with bad credit, providing that you meet the criteria and have a stable employment and income and can afford to make repayments on time.

We will always run a credit check on each customer prior to funding their loan and need to ensure that they can afford repayments and avoid falling into financial difficulty. 

We understand that personal circumstances can arise and this can result in missing some payments in the past and developing a bad credit score.

Importantly, we are more interested in your future and your commitment to repaying your future loans.

By spreading repayments over 6, 12 or 24 months, we hope that this can give you the necessary flexibility to help you get back on your feet.

We are a direct lender – We have been a direct lender since 2004 and your loan is processed by us from start to finish, with no other parties or middlemen involved. This can give you peace of mind and confidence when working with one company throughout the entire process.

Fast decisions and funding – We have the ability to make fast decisions on loan applications and can offer an immediate decision upon completion of the online application. Subject to further checks, we are able to transfer funds on the same day if your loan is approved by 3:30pm.

Flexible repayment – Our loan repayments are spread over 6 to 24 months in equal monthly instalments, with the option to repay early at no extra charge.

Responsible – We follow strict regulation to ensure that we maintain the best practice in every aspect of the process including underwriting, funding and collections. We consider all applications and credit backgrounds and will carry out relevant checks to ensure the suitability of our loans.

Transparent – We clearly outline the costs of our £500 loans, repayment schedules and there are no upfront fees. We will send you a reminder by email and SMS on the lead up to any collection. All this information is presented to you beforehand in an online loan agreement, which you can sign when you are ready to proceed.

Early repayment option – Our customers can repay their loans early at any point, either partially or full. There are no early exit fees for clearing your loan before its maturity date and overall you will save money on interest.

See Also

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