£100 Loan

Get between £50 - £5,000 paid out by

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  • 100% Online Process

  • Borrow up to £5,000

  • UK Based Lenders

  • Bad Credit Accepted

  • 2 Minute Application

  • Same Day Transfer

  • Representative Example: Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). *HappyPenguin will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

    Get a £100 Loan Online: What You Need to Know

    If you want to get a £100 loan, there are certain things you’ll need to know first. These days it is easier than ever to obtain small loans very quickly. Whether you need the money to pay for a credit card bill, home repairs or something else entirely, this article can be of great help. You will learn how to obtain one of these small loans and everything that is involved. When you take the time to get this information, you can avoid any issues going forward.

    Uses of £100 Loans

    You will be able to use the small loan you get for anything you might need. Many people who get a £100 loan use the money to purchase groceries, for gas to put in their car, or sudden expenses. If you have recently had an unexpected expense arise but don’t have the money to cover it, this type of loan can be useful. The private lenders that give out these loans do not ask borrowers questions as to why they want them.

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    How to Obtain a £100 Loan

    You will quickly discover that the process for obtaining a £100 loan is actually quite simple and doesn’t take much time. It will be necessary for you to go online to find a private lender who gives out short-term loans. There are quite a few of these lenders, so you will need to make a point of dong some research. You don’t want to choose just anyone to borrow from, so take the time to look into your options.

    Next you will have to fill out and submit an application on the lender’s website. This usually takes no more than several minutes. You will be asked to submit some basic personal and financial details so the lender can make an informed decision on your application. This includes how much you make (your income), how much you want to borrow, and various contact details like your phone number and address.

    After you have submitted your loan application, you will receive an instant on screen decision to inform you of your application’s status (approved or denied). If the application gets approved, you will need to accept the agreement and the funds will then be transferred to your designated current account.

    Who Can get a £100 Loan?

    If you go through a private lender to obtain your loan, there is a good chance that you can get approved. These loans are known for being incredibly easy to get as even those with very poor credit ratings can still get approved for one of these loans.

    It is important to keep in mind that you still need to have adequate income to get approved. The lender will only give you the loan if you make enough to pay back the full amount by the due date. You will have to submit proof of your income along with your application. You also need to have access to a computer or mobile device and internet connection. These private lenders are mostly based online, and it is how you will submit your application.

    How £100 Loans are Paid

    If you get approved for the loan, the money will be sent directly to your checking account via electronic transfer. This usually happens within a matter of hours after getting approved for the loan.

    Loan Term

    The term of your loan is how much time you will have to pay back the full amount, including interest and fees. A standard £100 loan usually comes with a term of around 2 weeks, though some lenders offer other options. It is a good idea to keep your term shorter so you don’t accumulate any more interest than necessary. You should have no problem with paying back the money in this amount of time. Just make sure that you confirm the loan term in the agreement before signing it. You may be able to get an instalment plan for your loan if you feel as though you really need it.

    How Does Happy Penguin Compare?

    Why Use HP?
    What's the max loan amount?
    Up to £5,000
    No hidden fees.
    Is approval instant?
    Yes, immediate.
    On Screen Decision
    Poor Credit Possible?
    Yes. Bad credit too.
    All considered.
    Same day transfer?
    Within the hour!
    Direct to bank!
    Flexible Repayment Dates?
    Flexible terms.
    Quick and easy.

    Fees

    There will be certain fees that come with getting a £100 loan, including the interest rate. One of the good things about loans that are this small is that you shouldn’t need to pay a lot of interest. Take some time to see what kind of rate each lender is going to charge you before making a final decision.

    This research will help you to keep your expenses as low as possible when borrowing. You should be able to get this information right on the lender’s website. Most of these lender’s have a “Rates” section on their site that will provide you with these details. It’s important that you inquire about any other fees so you know what to expect with each lender.

    Benefits of a £100 Loan

    You will find that small loans from private online lenders offer a number of huge benefits to consider, such as:

    • Fast dispersal of funds: These online loans are known for helping borrowers get the money they need quickly. If you are approved, you will likely get your money the same day you apply.
    • Trustworthy lenders: You should be able to find a highly reputable private lender to borrow from without any issues. It is, however, still a good idea to do your research. You don’t want to make this sort of decision until you have looked at some of your options.
    • Low interest: As discussed above, you should be able to get a very low interest rate on your loan. If you are only borrowing one or two hundred pounds, the rate shouldn’t be very high at all.
    • Convenience: Since everything to do with the loan is done online, you won’t have to deal with being inconvenienced in any way.

    Borrowing a £100 Loan with Bad Credit

    Many people throughout the UK get small short-term loans even though they have less-than-desirable credit scores. This means that your chances of approval for an instant loan even with bad credit are pretty good from the start. The lender might run a credit check on you, but that doesn’t mean your application will be denied. Make sure that you don’t submit a lot of loan applications in a short period of time, as this can damage your credit even further.

    Choosing a Lender

    Selecting the right lender for your £100 loan is very important. This decision will affect a lot of things, including your interest rate and other fees you’ll have to pay. You need to look for a lender who is flexible and offers reasonable loan terms so that you won’t have any issues later on. This research can go a long way towards helping you get the best possible deal on the loan you need. When you visit each lender’s website, make sure that it is secure.

    You can tell if a website is encrypted to protect sensitive information very easily. Look at the web address at the top of your browser for the “HTTPS”. This indicates that the website is secure, so you can submit personal details without having to worry about having your identity stolen.

    Getting Quotes

    It is possible to get quotes from private lenders for the £100 loan you want within a matter of minutes or even seconds. You should take some time to do this before deciding which payday lender to borrow from. This research can help you save a significant amount of money on your loan. A lot of these lenders offer the ability to get a quote. It is a very quick and convenient process that you can do in the comfort of your own home. All you need is a computer or mobile device as well as an internet connection.

    Is a £100 Loan Right for me?

    There are a few things that you should consider before deciding to get a £100 loan online. First you need to make sure that you can afford to pay back the loan on time. Make sure that you factor in the interest rate and any other fees you might have to pay. You should be able to get a long enough term to pay back the full amount without any issues. If you have some important sudden expense, this type of loan can be incredibly helpful. Just make sure that you have done the necessary research before finalizing your loan.