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Evolution Money
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Instalment loans offer a way for people to split the total cost of their loan into affordable payments over a specified period of time.

Instalment Loans

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The estimated amount and date of each instalment is agreed in advance and usually divided as part of a monthly schedule. The expected rate of interest is also calculated as part of the monthly repayment cost, which makes it easier for borrowers to plan ahead and work out a much clearer budget for their loan.

This form of lending is ideal for people that are unable to repay their loan amount in full. It also takes into account the reality of working life, whereby most households rely on a monthly pay packet to pay for their regular outgoings. In this sense, each instalment can be aligned with a person’s income to ensure that the repayment terms are affordable each month and spread out as much as they need to be.

The benefits of instalment loans

Our team of instalment loan specialists have supported thousands of people in making a decision that’s right for their own personal situation. Many borrowers choose to opt for a secured instalment loan for a number of reasons:

Clear monthly budget. With an instalment loan, borrowers can establish an estimated cost as part of their monthly outgoings. This allows people to better manage their budget and stick to a clear financial plan.

Flexibility. If you opt for this type of loan, you’ll never be expected to pay a lump sum above the agreed instalments. With flexible repayment periods, you can decide with your lender on a term that is most affordable for you.

Larger value loans. Instalment loans often give applicants the chance to borrow a higher value loan than they would with an average high-cost short-term lender.

More time to repay. Loans of a larger value generally afford a longer repayment period in total. Evolution Money offers a maximum loan duration of 15 years, which allows the borrower to split the cost of their loan into 180 monthly repayments.

Fewer usage restrictions. Unlike loans issued by banks and other high street lenders, a secured instalment loan can be used for almost any purpose. We regularly work with people to help fund major home improvements, existing business investments, car purchases, or even their wedding day and honeymoon.

Weighing up your options

If you’re thinking of applying for an instalment loan, it is always a good idea to weigh up all available options beforehand. Payday loans, credit cards and unsecured loans may be avenues worth exploring and better suited to your individual situation; however, the majority of banks and high street lenders focus solely on a person’s credit score when evaluating a loan application.

Evolution Money are different in that we always take into account a person’s current financial situation, not just their previous credit history. This means that a poor score won’t necessarily hold you back from the loan you need.

If a person does decide on an instalment-based loan, they must always remain aware of their responsibility to make every agreed repayment on time. Evolution Money provides variable loan agreements, which means the precise payments may increase or decrease over time. Failure to repay instalments on time may result in additional charges and could negatively impact their credit rating.

Looking to get an idea for the approximate cost and timescales of an instalment loan? Take a look at our handy loan calculator to see what your repayments might be on a secured loan through Evolution Money.

Or, give us a quick call on 0161 814 9158 to talk through your options and get a no obligation quote from an Evolution Money personal account manager today.

Apply for an Instalment Loan
Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Evolution Money 90 out of 100, based on 112 reviews over the past year. 112 user reviews. Read our reviews

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Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2018 Evolution Money | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions | Fair Processing Notice
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Fair Processing Notice

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Evolution Money Ltd, Progressive Money Ltd and Evolution Lending Ltd are all wholly owned subsidiaries of Darwin Loan Solutions ('the Group').

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Our companies hold and process your personal data in accordance with Data Protection law in the UK. We are committed to maintaining the privacy and protection of all personal data collected in connection with our broker and loan services. We may share your information with credit reference agencies and other companies for use in credit decisions, for fraud prevention and for collection purposes.

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Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

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Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

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