How quickly will I have to repay the loan?
When you request a £500 loan you will have the option to repay the full amount, plus interest, in either 3, 6 or 12 months.
The payment will be collected every month on the same day by direct debit or continuous payment authority (recurring payments). You may want to ask the lender to arrange collection of your repayment on, or very soon after, your payday to ensure you have the right amount of funds in your account.
Will a bad credit score affect my chances of getting a loan for £500?
No matter the current status of your credit score you can start an application with CashLady without having to worry about it affecting your credit score. This is because we use “soft search” technology to match you with the lender most likely to approve your application.
Once you have completed our online form, we process the details and will match you with the lender most likely to offer you a loan. If you choose to continue, the loan application will be completed directly with the lender and they will carry further credit checks that could have an impact on your score.
Before starting a loan application, it is always a good idea to request a free copy of your current credit report so you are aware of your current score. Read more about applying for loans with a bad credit score here.
How much interest will be added to my loan?
In addition to repaying the £500 borrowed from the lender you will also have to pay additional interest. Each lender has their own criteria that will influence the amount of interest applied to the loan. This includes your financial circumstances and previous credit history. If your application is accepted their offer will explain how much interest you will have to pay, and the full payment amount required with each monthly instalment.
Will the money be in my bank account quickly?
The majority of lenders understand that a £500 loan is often needed quite urgently, so you may be able to receive the funds on the same working day.
If the application is made after a certain time, for example in the evening or on the weekend, it may take a little longer to process both the application and to transfer the funds, if you have been offered a loan.*
How do I start an application?
CashLady use a panel of Financial Conduct Authority (FCA) authorised and regulated finance providers, who may be able to offer you a £500 loan. When you start an application we’ll require information such as:
- your name and recent address history
- how much you earn each month
- current outgoings and bills you need to pay
- what you intend to spend the money on
- the best way to contact you – email and phone number
- bank account and debit card details
Representative 49.9% APR