118 118, the modern-day yellow pages, also offers personal loans between 1-2 years.
118 118 is a well-known directory enquiries provider. It has always branched out into a broad range of sectors, so it’s no surprise that it’s ‘Money’ department offers personal loans.
118 118 Money offers loans between £1,000 – £5,000 over 1-2 years with monthly repayments made over 12, 18, or 24 months. You can apply online and they provide a 24/7 helpline if you have any problems during your application.
Personal loans can be used for most things, but while other providers may limit the reasons they accept for an application, 118 118 Money allows you to use the loan however you wish.
Warning: Late repayments can cause you serious money problems. See our debt help guides.
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Key features of 118 118 Money personal loans.
118 118 Money offers personal, unsecured loans from £1,000 – £5,000. Unsecured loans are not secured against your assets, for example your home. They offer repayment periods of either 12, 18, or 24 months.
You can use their personal loan calculator to see how much your monthly repayments might be, which will help you to determine the affordability. Their offer will be valid for 5 days, so you can take your time to decide whether you wish to accept it or not.
- Loan terms from 1 to 2 years. You can choose either 1 year, 18 months, or a 2 year repayment period.
- Loan amounts from £1,000 to £5,000. Subject to assessment of your personal circumstances.
- Fixed monthly repayments. The interest rate is fixed, meaning you’ll pay the same amount each month, and you know how much the loan is going to cost you overall.
- Make additional payments. You can make overpayments at any point during the agreed loan term. If you repay your loan early you may be entitled to a rebate on your interest.
- Easy management through online account. You can view your current balance and recent payment history via your online account at any time.
What is APR?If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.
All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.
Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
Am I eligible for a 118 118 Money personal loan?
You should only apply for a 118 118 Money personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:
- You must be between the ages of 18 and 70.
- You must be a UK resident.
- You must hold a current UK bank account and debit card.
- You must have a monthly net income of more than £700.
- You must be employed or self-employed.
How do I apply?
If you’ve decided that a 118 118 Money personal loan is for you, then make sure you have the following information handy for your application:
- Your mobile phone number.
- Your email address.
- Your home address.
- Your employment history.
- Your net monthly income.
- Your outgoings.
- Your bank details.
Frequently asked questions