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12 Month Loans
Borrow a Loan From £100 – £5,000*
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Most Loans Are Paid on the Same Day
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Rates from 48.1% APR to 1721% APR. The minimum Loan Term is 1 month. The maximum Loan Term is 36 months. Representative Example: £1,000 borrowed for 18 months. Repayment of £89.22. The total amount repayable is £1605.96. Interest amounts to £605.96, annual interest rate of 59.97% (fixed). Representative APR: 79.5% (variable).
Note: High cost short-term credit is designed for temporary financial relief in unexpected situations and is not intended for long-term use or regular financial management.
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What is a 12 month loan?
A 12 month loan is one of many short-term loan options available at LoanBird that allows borrowers to repay the loaned amount in monthly instalments over a one-year period. This type of loan is often used by individuals who require quick access to funds but prefer to spread out the repayment to make it more financially manageable.
A 12 month loan can be particularly useful in a number of situations, such as covering unexpected expenses, financing home repairs, managing bills, or bridging finance gaps. A 12 month payday loan provides flexibility with a clear repayment timeline, making it a practical option for those who need a short-term financial boost without a long-term commitment.
Can I Apply For 12 Month Loans With Bad Credit?
At LoanBird, we take pride in providing a user-friendly, free online service that aims to help loan seekers bypass the lengthy process of searching through lenders and credit checks, and get straight to hopefully finding the best loan options. With a network of over 20 FCA-approved lenders, we could offer simple, fast loans, even for individuals in the UK with less-than-perfect credit. Whether you need a short-term option like our 1 year loan, emergency loans for bad credit, or payday loans for bad credit, try out our service to see if you’re eligible.
While we specialise in assisting those with bad credit, it’s important to note that not every loan application can be guaranteed approval. Many of our lenders focus on assessing affordability, which could increase the chances of approval. Our pre-approval process, designed to hopefully match you with a suitable loan, offers a significantly higher likelihood of success than applying without guidance.
Our commitment to inclusivity means that individuals with poor credit could still access loans with LoanBird. If you have bad credit, why not consider our quick loans for bad credit, as we may be able to help you if the repayments are sustainable.
How Much Can I Borrow For A 12 Month Loan?
Looking for a flexible loan option to help manage unexpected expenses? A 12 month loan might be the perfect solution for you.
With the ability to secure amounts ranging from £100 to £5,000, this loan range allows you to tailor the borrowing to your specific financial needs. Whether you’re covering unforeseen costs or easing financial strain, this loan gives you the breathing room you need. Plus, when you borrow money for 12 months you can enjoy manageable instalments, making it easier to stay on top of your finances.
Just remember, it’s important to evaluate your realistic repayment capacity before committing to avoid any financial difficulties down the line. Need to borrow our maximum loan amount of £5000? Why not find out more about our £5000 loans for bad credit.
Do I qualify for a 12 month loan?
Qualifying for a loan has never been easier than with LoanBird. With over 20 FCA-approved lenders, we are able to give our customers the best possible opportunity of receiving the loan they are seeking. (Subject to lender checks and your circumstances).
In order to make the overall process as streamlined as possible for our customers, we have created a transparent eligibility criteria which states:
- You must be at least 18 years old.
- You must be a UK resident.
- You must have a valid debit card linked to a UK bank account.
- You must have a steady source of income.
How long will it take for me to receive my loan?
Once you have accepted one of our lenders loans we always aim to send the funds over on the same day. We are proud to say our lender’s average transfer time is around 60 minutes and we’re certain you’re unlikely to receive such a prompt outcome anywhere else.
12 Month Loan FAQs
You should contact your lender immediately to explain your circumstances so they can assess the situation to hopefully offer you some assistance. If you have any financial problems and debts that are becoming unmanageable, you can receive free advice from various organisations including moneyhelper.org.uk and citizensadvice.org.uk
Sure! There are many reasons loan seekers come to LoanBird, one of those being that at the very first stage of applying for any of our loans, we will ask for what purpose you are looking for a loan. Whether you are interested in consolidating other debts, paying off a large expense or something else, this information will help us find the right lender from our 30+ FCA-approved options.
APR stands for Annual Percentage Rate. The present APR shown on our website of 12.9% APR to 1721% APR is just an example; this can vary from lender to lender. This usually depends on the terms and circumstances of the loan you choose. APR takes into account the interest on the loan, along with other potential charges, e.g. arrangement fees. All lenders will tell you their APR rate before you sign any loan agreement.
Of course. As long as you meet our eligibility requirements, you will be considered for all of our loan options; not just our 12 month loans.
Yes, you can. At LoanBird we are constantly adapting to make our loans as accessible as possible to a much wider audience. By doing so, we are able to offer loans with a duration as little as 1 month, all the way up to 3 years.
Should you decide that making loan repayments over a longer period may suit you and your budget better, then we encourage you to take a look at the extensive loan options on our website where we are sure you will find the most suitable loan for your requirements.