Wonga are a short-term and instalment loan lender based in London. Wonga offer customers two loan options. Customers can opt for a short-term loan of up to £400, or an instalment loan of up to £500. Established in 2007, Wonga have become one of the UK’s most well known online lenders, servicing thousands of customers every month.
What Is The Criteria For A Loan With Wonga?
To apply for a loan with Wonga you must be over 18, own a mobile phone, live in the UK and have a valid UK bank account with debit card. You can decide to repay your loan on the same date each month, on the last Friday of the month or the last working day of the month.
During the application process you will be required to provide Wonga with details of your current situation, including your employment information, your bank details and accurate information on all of your outgoings and expenses. This information is used by Wonga to help them assess your ability to repay your loan and in a timely manner.
Here are some representative examples of the loans available at Wonga:
Short Term Loan:
- Borrow £100 for 13 days- Interest rate 292% pa (fixed)- One repayment of £110.40- Representative 1,509% APR
- Borrow £300 over 3 months- Interest rate 292% pa (fixed)- Three repayments of £152.65- Total amount payable £457.95- Representative 1,261% APR
Contact Telephone Number: 0207 138 8330
Interim Permission Number: 611974
Warning: Late repayment can cause you serious money problems. For help, go to www.moneyadviceservice.org.uk.