Loans frequently asked questions

Our list of frequently asked questions, or FAQs, refers to the key questions which our customers most commonly ask us.

Should you have any questions about our guarantor loans and the process by which you might apply for them, our FAQs should answer them.


Is Oink Money a direct Lender?

No, we do not lend directly. We are a credit broker, providing a simple and fast service which uses award winning to match the information you provide us with a suitable lender.

How does Oink Money work?

Please see the 'about us' section for more information about how we work to provide you with the best loan, tailored to your needs.

Am I eligible for a UK Loan through Oink Money?

To be eligible for any of our lender's products you must:

  • Be Over 18
  • Be a UK Resident
  • Have a valid UK Bank Account with a debit card.
  • Be in employment, with your Salary paid directly into your Bank Account.
Criteria will vary for each lender, but the above criteria must be met as a minimum. In the case of guarantor loans, you must find a suitable guarantor who will vouch for your ability to keep up repayments.

How long is the application process?

On average, our users complete and submit our fast and simple application form within minutes.

As long as your details have been entered correctly, our intelligent software will almost instantly matchmake your information with the requirements of our panel of lenders, all within a matter of seconds. Applications can be made 24 hours a day, 7 days a week and a loan decision can be made within minutes.

Once you've been accepted by one of our providers you'll be taken to the loan agreement page and, if you agree with the offer, the money will be transferred to your account via electronic bank transfer - often straight away.

How much can I borrow?

Depending on the type of loan you're applying for, you can ask for any amount between £100 and £25,000.

The exact amount you can borrow will vary by lender and will depend on your circumstances.

Short Term Loans Personal Unsecured Loans Guarantor Loans
Amount Up to £3,000 From £1,000 to £25,000 From £100 to £15,000
Rates From 278% - 1576% From 5.7% to 278% From 49.7% to 49.9%

How will the funds be paid to me?

Loans will typically be paid directly into your bank account by electronic transfer. Please check the terms and conditions of your loan agreement for the exact payment method.

How quickly will I receive the money?

Applications made before 3pm on weekdays may be paid into a bank account on the same working day. Applications sent and accepted after 3pm or at weekends will typically receive the funds on the next working day. The time taken to receive the funds varies between lenders - some applicants may receive the funds in as little as 15 minutes however please check with your provider for exact timescales.

For some applications where further information or a co-signature is required, the process can take longer - typically between 1-3 working days. Please check your agreement for exact timescales or confirm with the lender before accepting.

How will I repay my Loan?

The lender may offer you a number of repayment options. The most common way to repayment the amount borrowed is by Direct Debit or Standing Order from a bank account. You may be given the option to pay the balance of your loan early - please check with your lender for any penalties or extra charges.

What is Representative APR (RAPR) and how does it affect me?

RAPR stands for 'Representative Annual Percentage Rate'. This is a rate of interest which 51% or more of successful applicants will receive against a specific loan. Using the Representative APR can assist you in comparing loan products and is often better suited to medium - long term loans.

For example, a loan advertised at 30% RAPR means that 51% or more of the accepted applicants receive 30% as their annual rate. The other 49% could get a different rate which may be more.

RAPR is given as an annual figure, which is why it sometimes appears high (for example, short term loans which are not intended to be taken out for a long period of time will show a much higher rate). In these cases we prefer to focus on how much your repayments will be, as in this case it is much more representative than the RAPR.

I have poor credit history - can you help?

Many of our lenders offer products designed for those with poor credit ratings. Please only use this service to borrow money if you are able to keep up the repayments. If you are experiencing financial difficulty, we advise you to seek professional financial help before applying for any further credit.

Do Oink Money carry out a credit check as part of the application?

We will not carry out a credit check as part of the application process. Once you have been matched with a lender, they may choose to carry out a credit check in order to complete your application.

Which lenders do you work with?

We work directly with over 40 well known UK lenders you can trust. Our panel of lenders includes:

  • MyJar
  • Pounds to Pocket
  • Satsuma Loans
  • Sunny Loans
  • Amigo Loans
  • Lending Stream
  • The Money Shop
  • ... and many others.

What do you use my personal information for?

We use your information to make sure you're a good fit with one or more of the lenders from our panel. They will use the information to judge whether or not they can provide you with one of their products and your ability to repay if you're successful.

What if I have difficulty repaying my loan?

You should always consult the lender directly if you have any problems repaying, as they may be in the position to offer you some repayment alternatives. Please check the terms and conditions of your loan agreement before accepting, as these will detail any specific processes the lender has in place.

Late repayment can cause you serious money problems. For help you should visit www.moneyadviceservice.org.uk.