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12 Month Loans

Apply for a 12 month loan today and enjoy a no-interest, on-demand solution. Check if you’re eligible to join Creditspring today!

Check eligibility

Membership fee

£10/month

2 loans per year

£500 | £500

Repay each loan in

6 months

Rep. APR

43.1%

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

Representative example: Total amount of credit of £1,000 over 12 months. The first payment for each advance is £83.35 followed by 5 monthly repayments of £83.33 and 12 monthly membership payments of £10. Rate of interest 0% p.a. (fixed). Representative 43.1% APR. Total amount payable £1,120.

Membership fee

£8/month

2 loans per year

£250 | £250

Repay each loan in

6 months

Rep. APR

77.3%

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

Representative example: Total amount of credit of £500 over 12 months. The first payment for each advance is £41.70 followed by 5 monthly repayments of £41.66 and 12 monthly membership payments of £8. Rate of interest 0% p.a. (fixed). Representative 77.3% APR. Total amount payable £596.

Membership fee

£5/month

2 loans per year

£100 | £200

Repay each loan in

6 months

Rep. APR

87.5%

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

Representative example: Total amount of credit of £300 over 12 months. The first payment for the first advance is £16.70 followed by 5 monthly repayments of £16.66. The first payment for the second advance is £33.35 followed by 5 monthly repayments of £33.33 and 12 monthly membership payments of £5. Rate of interest 0% p.a. (fixed). Representative 87.5% APR. Total amount payable £360.

12 Month Loans

Apply for a 12 month loan today and enjoy a no-interest, on-demand solution. Check if you’re eligible to join Creditspring today!

Check eligibility

Membership fee

£10/month

2 loans per year

£500 | £500

Repay each loan in

6 months

Rep. APR

43.1%

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

Representative example: Total amount of credit of £1,000 over 12 months. The first payment for each advance is £83.35 followed by 5 monthly repayments of £83.33 and 12 monthly membership payments of £10. Rate of interest 0% p.a. (fixed). Representative 43.1% APR. Total amount payable £1,120.

Membership fee

£8/month

2 loans per year

£250 | £250

Repay each loan in

6 months

Rep. APR

77.3%

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

Representative example: Total amount of credit of £500 over 12 months. The first payment for each advance is £41.70 followed by 5 monthly repayments of £41.66 and 12 monthly membership payments of £8. Rate of interest 0% p.a. (fixed). Representative 77.3% APR. Total amount payable £596.

Membership fee

£5/month

2 loans per year

£100 | £200

Repay each loan in

6 months

Rep. APR

87.5%

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

Representative example: Total amount of credit of £300 over 12 months. The first payment for the first advance is £16.70 followed by 5 monthly repayments of £16.66. The first payment for the second advance is £33.35 followed by 5 monthly repayments of £33.33 and 12 monthly membership payments of £5. Rate of interest 0% p.a. (fixed). Representative 87.5% APR. Total amount payable £360.

When it comes to borrowing money, short-term options such as 12-month loans are typically a good option, as they allow you to break up larger purchases into smaller, affordable monthly payments. 

This helps you to get access to smaller amounts of money fast, with a repayment term of one year. Breaking up a large bill into smaller payments helps you to budget in advance and have more money available for your day-to-day expenses. 12-month loans can also offer lower interest rates than traditional cash advances and expensive payday loans.

With a Creditspring membership, you’ll have access to two on-demand loans per year, helping you build your credit and get access to no-interest-(APR Rep 43.1%) loans on-demand

Our members love Creditspring 💙

What is a 12-month loan?

A 12-month loan is a personal loan with repayments over one year. It's a short-term loan that has become increasingly popular in recent years, enabling you to budget effectively for the next year. 

Although banks offer a range of loans, some don't offer smaller loans over a 12-month period, which is why people often look at alternative lenders. 

This is where Creditspring comes in. 

With a Creditspring membership, you can borrow the money you need and benefit from on-demand loans with no interest. In addition to what you borrow, you only pay the fixed membership fee.  

Apply for a 12 month loan today and enjoy a no-interest, on-demand solution. 

Why choose Creditspring

Here are a few benefits of taking out a 12-month loan with Creditspring:

  • Borrow the money you need on-demand

  • No-interest loans 

  • Pay a fixed membership fee

  • Eligibility takes only a few minutes

  • Build your credit history

Representative example: If you take out a loan of £1,000 over 12 months, the first payment for each advance is £83.35 followed by five equal monthly repayments of £83.33 and 12 monthly membership payments of £10. Rate of interest 0% p.a. (fixed). Representative APR 43.1% and total payable: £1,120.

Use our free eligibility checker to see if you’ll be accepted

What can I use a 12-month loan for?

You can use a 12-month loan for just about anything you need, including emergency expenses, tuition fees, medical bills and more. It’s a great way to pay for larger purchases over a longer period.

You can also choose to repay your loan earlier at any time. Your monthly repayments will be adjusted to reflect your new remaining balance and you also request an early settlement figure from Creditspring should you choose to cancel your membership at any time. 

How do I apply for a 12-month loan?

The first step in applying for a 12-month loan with Creditspring is to check your eligibility. You'll get a response in less than 60 seconds and it won’t affect your credit score. 

To become a member of Creditspring you:

  • Must be a UK resident

  • Must be at least 18 years old

  • Have a minimum income of £20,000 per year

  • Must not have any recent CCJs or been bankrupt

As with any loan, always ensure that you can comfortably afford the loan repayments. This will not only help you to build your credit history but also to qualify you for great rates.  

With a Creditspring membership, you can get on-demand access to loans with no interest when you need it most. Read more about our Step £300, Core £500 and Plus £1,000 options here.

Use our free eligibility checker to see if you’ll be accepted

What are the requirements?

Before taking out a 12-month loan it’s important to make sure that you can comfortably afford the repayments until the loan reaches its term. Make sure your credit score is high enough to be approved.

Typically you’ll need to have a good credit score, be a UK resident, and have a stable income. 

Getting a 12-month loan with bad credit

Need a 12-month loan but have bad credit? Join the Stability Hub with Creditspring. 

A bad credit score can prevent you from borrowing the money you need, or lead to higher interest rate loans. As a Stability Hub member, you’ll automatically be notified when you are eligible for a loan. You’ll get the tools you need to keep track of your financial health and improve your financial behaviour.

Join the Stability Hub today

Is 12-months the best term for a loan?

Taking out a loan over 12 months is a very convenient way of breaking up a larger purchase into smaller payments. Although you can take a loan over a shorter period - like three or six months - a 12-month period is convenient for planning your budget and benefiting from low rates. 

It is especially helpful if you can't afford to pay back a loan immediately; even though a longer-term may mean higher interest payments with some lenders, it will give you lower monthly repayments. 

How long until I’m accepted for a year-long loan?

Applying for a 12-month loan with Creditspring is easy and takes a few minutes. Once you’ve entered your details on the eligibility checker, you’ll get an outcome in less than 60 seconds.

Once approved you have the money paid into your account after your 14 day wait period. During this time you can plan ahead, so as to not end up in a debt spiral.