Borrow from £1,000 – £5,000 and pay it back over 18 to 36 months
The Big Plus loan from Oakam is designed with a purpose – your longer-term financial needs. As you borrow and pay back successfully with our flagship product, the Oakam Loan, you’ll unlock access to our larger product, the Big Plus loan, bringing with it larger loan amounts over a longer period of time and at a much lower annual interest rate.
It’s one way we use your real situation and data about your financial behaviour to meet your needs.
Big Plus loans are only available to existing customers who have a track record of successfully borrowing with Oakam. Qualifying existing customers can apply for a Big Plus loan on the Oakam mobile app. New customers can apply for the Oakam Loan on the website or via the mobile app. You can compare our loans here.
The Big Plus loan is a longer term commitment so, as with all our loans, we advise you take your time to decide if it’s the right option for you. Rest assured, as a responsible lender, we will always conduct thorough checks on loan applications and only provide loans that we believe are affordable and sustainable.
If you borrowed £1,000 over 18 months, at an annual interest of 105% (fixed, 173.62% APR), you would pay 18 monthly instalments of £112.31. The total charge of credit will be £1021.58 and the total amount payable will be 2021.58. There are no hidden fees or costs with any of our loans.*
*Rate are subject to change and the representative APR may not be the rate you’ll receive. Your actual rates and repayments may differ and will be based on your personal circumstances, the loan amount and term. All loans are subject to status. Terms and conditions apply.
You can top-up your loan on the phone, or by using Oakam’s award-winning app.
You can pick from a weekly or monthly payment plan.
Making on-time repayments may help to improve your credit score over time as we report your repayment behaviour back to credit reference agencies.
We do not charge late fees for missed payments, nor do we charge if you decide to settle your loan early. (Missed payments will adversely affect your credit rating).
In most cases if approved, you will receive the funds on the same day.
We reward good repayment behaviour by offering cheaper interest rates for future loans.