Why Might You Need a 1 Month Loan?
We can’t prepare for the unexpected, but payday loans could help cover any emergency expenses when you don’t have enough saved or can’t wait until payday. Whether your boiler breaks down, or if your roof is leaky, it’s essential that this is sorted as soon as possible - preferably before it rains. With a payday loan from PiggyBank, if you’re approved, you could have money in your bank account within an hour.
If you have a moderately good credit history, you might consider taking out a bank loan. However, most large banks and building societies don’t offer small loans amount and only have long term repayment options - you may even be charged if you wish to repay the loan early. Typically, you can only borrow from banks or building societies over a period of months or years. If you choose this option, you could end up borrowing far more than you need over a lengthy period, resulting in paying more in interest.
Credit cards are another great option to cover unexpected expenses - if not used too regularly and the interest rate is relatively low. However, if you have a poor credit history, you may only be eligibility for high-interest credit cards.
Do PiggyBank Offer 30 Day Loans?
At PiggyBank, we offer payday loans for up to 35 days. You can borrow between £100 and £400 over this time, but if you’re looking to borrow more, we also offer instalment loans up to £1000. As paying back loans of £1000 in one lump sum can be difficult, we have the option of spreading these over a longer period.
PiggyBank is a responsible short term loan lender, which means we’re authorised and regulated by the Financial Conduct Authority and adhere to their rules. We don’t recommend taking out a short term loan if you’re experiencing long term money problems, as you may end up paying more if you can’t keep to the repayments. We also don’t recommend borrowing to pay back other forms of credit, as this can lead to a debt spiral.
If you’re struggling with your finances, contact Step Change for free impartial advice.
Can You Apply for a One Month Loan With Bad Credit?
Yes— with PiggyBank you can get a loan with a low credit score.
Missed or late payments remain on your credit file for 6 years, which may be a reason behind a low credit score. You could also have a low score if you haven’t taken out much (or any) credit before. This is known as having a ‘thin credit file’. As you don’t have much of a credit footprint, lenders aren’t able to evaluate your creditworthiness.
At PiggyBank, we don’t just look at your credit file when making a loan decision. Even when we do check your credit file, we’ll look at more recent markers, and won’t penalise you for late payments you made years ago. When making a loan offer decision, our underwriting team also take into consideration your income, expenditure and employment status.
How Do You Apply?
To apply for a PiggyBank loan, you’ll need to be a UK resident, aged 18 or over, and in full time or part-time employment. The loan application process is short and simple - we’ll ask you about things like your job, your income and expenditure, and your bank details.
You can choose the amount you need, over 35 days or even 5 months, and we’ll go through our checks to give you a decision. If approved, you should get the funds within an hour.Apply Now!