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How do I get a Loan with Fixed Monthly Payments?

There are many benefits to getting a loan with fixed monthly payments. Whether you opt to take out one of our 12-month, 18-month, 24-month, 30-month or 36-month loans, you can guarantee your repayments will remain the same each month.

118 118 Money offers unsecured personal loans for those in need of a little helping hand. Whether you need extra cash to pay for unexpected household bills or to help towards a big life-changing event, you could borrow between £1,000 and £5,000 from us. Our loans are designed to be repaid in manageable monthly instalments over an agreed term.

With a 118 118 Money loan you always know where you stand. You are getting a loan with fixed monthly payments (missed or late repayments will incur a £12 charge). We agree how much you need to repay monthly when you take out the loan so that you can budget accordingly. Our monthly payments start from £57/month and are fixed for the duration of the loan, unless, of course, you decide to make a partial or full repayment before the term ends. Missed or late repayments will incur a £12 charge.

Taking out a 118 118 Money loan

It’s easy to apply for a loan with 118 118 Money. With no branches to visit, you can apply and manage your loan from the comfort of your own home. Our online application process can be completed in four simple steps and because we aim to review each application promptly, you could receive the money in your account within 24 hours.

We want to make sure you can afford the monthly repayments and so before your loan application can be accepted we will check to ensure you are not borrowing more than you can comfortably afford.

Use our personal loans calculator to work out your monthly repayments

Our handy personal loans calculator is a great starting point to see how much it will cost to repay your loan in fixed monthly instalments. Simply enter the amount you’d like to borrow over the number of months preferred and our loans calculator will show you which loan is right for you. We offer five different loan terms over 12, 18, 24, 30 and 36 months, and your repayment plan will vary depending on the duration of the loan. If you choose a loan term of 24 months, your monthly repayments might be lower but do take into account that the interest will be higher since your repayment plan is based over a longer term.

We’ve made it easy to calculate the cost of your loan as well as compare the different deals. Just by altering the amount you want to borrow or choosing a different loan term, our calculator will instantly work out your monthly repayments, the total amount to repay as well as the APR (Annual Percentage Rate).

Helping those with less than perfect credit

We look past your credit history and even if you’ve been turned down by a bank before, you could still get a 118 118 loan with fixed monthly payments. We offer a transparent service to our customers and all we ask is for you to be honest in return. We know you may want money for a wide range of reasons and as responsible lenders we make our decisions based on the individual’s circumstances. Always remember to familiarise yourself with our application criteria before applying for a loan. You must be a UK resident, aged over 18, in current employment (whether employed or self-employed) and earning a monthly income after tax of at least £700.

You must also hold a UK bank account and debit card. After all, we need to be able to deposit the money into your account. While there are a number of ways that you can pay back the loan, one of the most common methods is by direct debit. You can also contact the 118 118 Money Lending Team who are on hand 24/7 to help guide you through the process and provide ongoing support.

Our loans are designed to bridge the gap between personal bank loans, which are often limited to borrowers with good credit scores, and very short-term loans, which offer terms of up to a month on average. 118 118 Money is authorised and regulated by the Financial Conduct Authority (Interim Permission number 0656451).

You don’t need to be an existing customer to take out a loan with us. We strive to find a solution so that you get the money you need. Just as importantly, we always ensure you can afford to pay back the loan with fixed monthly payments, spread out over the term that best suits you.

We offer a Representative APR of 49.9% and the rate you receive will be dependent on the information provided in your application.

Contact us to get a loan with fixed monthly payments today.

Representative 49.9% APR.