Wonga – loan applications
There are various short-term loan amounts available via Wonga, all of which are said to be flexible. Eligibility for a Wonga loan is largely determined by a customer's ability to meet repayments. Credit checks also influence whether or not you will
Stringent eligibility criteria is in place including:
Age - applicants must be 18+ years old
Credit checks - applicants must hold a satisfactory credit history with Callcredit Ltd/Experian Ltd (these are Wonga's main points of credit reference).
Existing debt - a Wonga loan should not as they suggest be taken out to manage current debt.
Wonga's website has two handy sliders which will help you calculate loan amount and repayments. Simply set one slider to indicate how much you would like to borrow and the other slider to how long you wish to borrow it for. Thankfully the Wonga calculator will do all the maths for you and give a repayment amount including interest.
There are two options to choose from including:
An instalment loan = as the name suggests this allows repayments made in instalments over 3 months.
A short-term loan = this is a flexible option and is ideal for unexpected expenses.
Selecting your loan depends on your individual circumstances.
Personal info required
Applying for your Wonga loan is pretty straightforward and can be carried out online. There is information you can have ready prior to beginning your application which will speed the process.
You will need:
· Your basic personal information i.e. full name, contact details, work status and number of dependents etc.
· Your average outgoings including: mortgage/rent, credit commitments, utility bills, transport, food and other general monthly expenses.
Please note that if you are unsure of any of the questions, a member of the Wonga team is just a call away. Lines are open 24-hours a day, 7-days a week.
Once your application is completed you should receive a decision about your loan via email within a matter of 3 working days.