Eskimo loan products are available for amounts between £1,000 and £25,000. Eskimo loans are offered on a fixed rate basis, so that even if interest rates rise elsewhere, your budget will remain fixed. Repayments on an Eskimo loan may be spread over 1 to 8 years, allowing you to find the monthly repayment that suits your budget, and repay your loan in affordable instalments.
Eskimo loan products are available as unsecured loans; which means that no security is required in order to avoid high, unattractive interest rates. The advertised APR on Eskimo loan products is 9.90%. However, in order to be able to offer this, it is likely that the lending criteria for an Eskimo loan is quite stringent, and that only loan applicants with near-perfect credit ratings will be successful in receiving an Eskimo loan. If your credit rating is less than perfect, you may find that your best borrowing option lies elsewhere, either through an alternate unsecured loan lender, or a secured loan if you are a homeowner.
To consider your loan options within the secured loan market, complete the form on this page. Totally Money can source the market’s best deals and find the loan that suits your personal situation in seconds. Speak with an independent expert and receive a quote tailored to your requirements; it’s fast, free, and there’s no obligation.