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12
Month Loans

Need a 12-month loan in the UK? Creditspring has you covered with no hidden fees, and an application process that won't affect your credit score.
Representative example: Total amount of credit £600 repayable. 12 monthly membership fees of £10. Rate of interest 0% p.a. (fixed). Total cost of credit: £120. Total amount payable: £720. Monthly loan payment: £50. Representative 83.1% APR
smiling Creditspring customer

Memberships
made for plans
big and small.

Start building your credit today and access
your first loan after 14 days.
Check eligibility

Late and missed payments, along with other external factors, can have a negative effect on your credit score.

Extra
Borrow £2,400 a year and repay only
£2,688 in 12 monthly fees.
Plus
Borrow £1,000 a year and repay only
£1,168 in 12 monthly fees.
Core
Borrow £600 a year and repay only
£720 in 12 monthly fees.
Step
Borrow £400 a year and repay only
£484 in 12 monthly fees.
Coins Membership fee
£24/month
Fingers crossed 2 loans per year
£1,200 / £1,200
Wallet Repay each loan in
6 months
Rep APR Representative APR
43.7%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £2,400 repayable over 13 months. 12 monthly membership payments of £24. Rate of interest 0% p.a. (fixed). Representative 43.7% APR. The first repayment for each advance is £200.00, due 45 days after drawing, followed by 5 monthly repayments of £200.00. Total amount payable £2,688.
Coins Membership fee
£14/month
Fingers crossed 2 loans per year
£500 / £500
Wallet Repay each loan in
6 months
Rep APR Representative APR
66.2%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £1,000 repayable over 13 months. 12 monthly membership payments of £14. Rate of interest 0% p.a. (fixed). Representative 66.2% APR. The first repayment for each advance is £83.35, due 45 days after drawing, followed by 5 monthly repayments of £83.33. Total amount payable £1,168.
Coins Membership fee
£10/month
Fingers crossed 2 loans per year
£300 / £300
Wallet Repay each loan in
6 months
Rep APR Representative APR
83.1%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £600 repayable over 13 months. 12 monthly membership payments of £10. Rate of interest 0% p.a. (fixed). Representative 83.1% APR. The first repayment for each advance is £50.00, due 45 days after drawing, followed by 5 monthly repayments of £50.00. Total amount payable £720.
Coins Membership fee
£7/month
Fingers crossed 2 loans per year
£200 / £200
Wallet Repay each loan in
6 months
Rep APR Representative APR
88.8%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £400 repayable over 13 months. 12 monthly membership payments of £7. Rate of interest 0% p.a. (fixed). Representative 88.8% APR. The first repayment for each advance is £33.35, due 45 days after drawing, followed by 5 monthly repayments of £33.33. Total amount payable £484.
Check eligibility

Late and missed payments, along with other external factors, can have a negative effect on your credit score.

How do 12-month loans work? 

A 12-month loan is a sum of money you repay – as you probably guessed – over the course of a year. Repayments - which are made up of the capital you borrow, plus interest - are made in monthly instalments and providing you pay in full and on time, you should pay off your loan in 12 months. 

In the UK, the duration of a short-term loan can vary from a few months to a year, to a few years. It usually depends on how much you wish to borrow, how much you’re eligible for and your financial history. 

Can I get a 12-month loan with bad credit?

If you’ve managed credit poorly in the past, like missing or making late loan or credit card payments (that includes Buy Now, Pay Later schemes such as Klarna), this will almost certainly have affected your credit score. A low credit score, together with your credit history and affordability, can make it difficult to borrow money from traditional banks and High Street lenders if they don’t believe you’ll be a reliable customer, but your options won’t necessarily end there.  

You can find specialist lenders that provide 12-month loans for bad credit for anything from £100 up to several thousand pounds, though they’ll typically come with strict repayment terms and often high interest rates. They will also likely have hidden additional charges for things such as late payments. That’s why it’s important to do your research, check the small print and always find a 12-month loans direct lender that’s authorised and regulated by the Financial Conduct Authority (FCA). While 12-month bad credit loans are available from a variety of providers, those registered with the FCA will adhere to their rigorous rules and standards, giving you protection and peace of mind. 

Check your eligibility
What our members
say about us

Does Creditspring provide 12-month loans? 

We provide loans that must be repaid in 12 equal monthly instalments. So, if you’re looking for a 0% interest loan for 12 months, you’ve come to the right place!  

As a subscription finance service, rather than charging you interest (APR Rep 83.1%), we charge a fixed monthly fee instead. Our four loan membership plans range from £400 to £2,400 and come in two equal and manageable parts. We issue the first part when you request it and once you’ve paid it off, we can release the second half. Why do we provide loans for 12 months in this way?  

We think this makes life a bit easier for our members, especially if this is your first time taking out a loan, or you’ve not managed credit well in the past. We believe two separate, smaller amounts rather than one large lump sum up front is generally less overwhelming for our customers, too.   

You might also, for example, decide that a loan for 12 months isn’t what you want after all, so you’ll have the option to withdraw during your 14-day change-of-heart period. Flexible, or what?  

Could I qualify for a one-year loan? 

Your eligibility for one of our 12-month loans will depend on several different factors. Providing you satisfy our standard criteria and are approved, you can apply for a 12-month, interest-free loan from us (APR Rep 83.1%) to suit your needs.   

To meet our standard eligibility, you must:  

  • Be a UK resident aged 18 or over 

  • Have a stable income 

  • Satisfy our affordability and credit checks*  

If you’re approved and choose to become a Creditspring member, we’ll let you know within a few minutes. Your loan for 1 year could be with you sooner than you think!  

*This list is not extensive and Creditspring membership is subject to status. Terms and conditions apply.

Get a loan
Are you ready to start your journey with Creditspring?
Check your eligibility

FAQs 

Can I pay off a 12-month loan early? 

It is possible to pay off your Creditspring loan early, i.e., before the scheduled date. You’ll just need to log into your account online and follow the steps.

How about paying off a personal loan after 1 year? 

Yes, you can pay off a personal loan after a year, depending on your lender. At Creditspring, our small personal loans are designed to be paid off in 12 monthly instalments. But it can vary with other lenders. Depending on how much you borrow and what the provider’s terms are, you may have options to pay back what you borrow over different lengths of time. Therefore, it’s crucial that you understand the lender’s repayment terms before you enter into any credit contract.  

How much can I borrow from Creditspring over 1 year?

You can borrow between £400 and £2,400 from us, if you’re eligible for a Creditspring loan. However much you borrow, all we ask is that you repay the loan by making 12 equal monthly instalments, plus your membership fee.