Instalment Loan Frequently Asked Questions

What are instalment loans?

Instalment loans are unsecured loans that range from £100 to £2,000 and are typically repaid over a period of between 3 and 12 months. They can be used for a variety of immediate money needs like car repairs, urgent home repairs or other emergency expenses.

What is the usual criteria for an Instalment loan?

- You must be at least 18 years of age
- You must be a resident within the United Kingdom
- You must be in employment and receive a regular salary
- You must hold and provide valid debit card information
- You must have a regular income

How long is the application process?

This can vary from lender to lender. Typically, the application form should take you just a couple of minutes to fill in. If you are approved, your loan could be in your designated bank account from anywhere between 15 minutes and 1 hour, although some banks do not have a faster payment facility and could take up to 3 days to arrive in your account. In some circumstances lenders may require further information from you. If you are prompt in your response to their queries, they can usually process most loans within 24 hours.

Can I still apply even though I have a poor credit rating?

We understand nobody’s perfect, so we don’t expect your credit history to be faultless. At Sandy Instalment Loans we will try to match you with a lender that is best suited to accommodate your current circumstances but the simple answer is; if you can’t afford your desired loan amount or you are using the loan to payback other credit then please seek advice from They can help you get your finances back on track.

How long will I have to wait to receive the money?

In almost all cases funds are received within 1 hour of approval. Most lenders will try to transfer your money as quickly as possible. If all criteria is met during the application process this time can be as little as just 15 minutes. Banking policies may impact the time frames and therefore we cannot guarantee an exact time frame.

Can I have the loan sent to another bank account?

This depends on the individual lenders, though typically they can only send funds to the bank account you provided when applying for your instalment loan.

What happens if I cannot pay the money back on time?

If you fail to pay back the required amount then you may be charged additional interest and/or late fees. All of our loan providers adhere to and follow all applicable collection laws and rules as issued by the Financial Conduct Authority.

If you miss a loan payment it is likely that you will be expected to pay a late fee and potential other charges. It is also possible that you will be required to pay further interest on the amount already owed. This is further interest on the entire loan amount owed to that point, in addition to the original loan amount you borrowed.

The actual consequences will vary and depend on the specific loan provider who provides your loan. The loan provider may initiate collection procedures and your credit score may be adversely affected if your payment obligations are not met. Your debt may be placed with a collections agency who may take any collections actions allowed by law.