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Plata loans

Thinking of taking out a Plata loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Thinking of taking out a Plata loan? Read our guide to find out what loans are available and whether you could be eligible for them.

Who is Plata?

Plata is a fintech lender offering unsecured personal loans from £2,000 – £20,000. Their state-of-the-art technology promises a smooth and stress-free loan application experience. Their dedicated customer service team is known for treating every customer with fairness, respect and an understanding of their  individual needs.

Which is the best Plata loan for me?

Plata offers two types of loans – a personal loan and a top-up loan. 

Personal loans

Whether you’re looking to make home improvements or buy a new car, a Plata personal loan could help.

  • You can borrow a fixed amount and pay it back with monthly repayments over a period of 12 to 60 months.
  • Have access to competitive rates from 14.9% to 34.9%.
  • Get an instant quote for a personal loan.
  • There is no impact on your credit score if you are not approved.
  • No fees are ever charged.

Top-up loans

If you find you need more funds, a top-up loan enables you to borrow more cash while keeping a single monthly repayment.

  • Top-up loans are only for existing Plata customers who need to borrow more.
  • You can borrow additional funds and combine them with your existing loan.
  • You have flexibility to choose a different loan term to your existing loan.
  • You could qualify for a lower APR.

Why choose Plata?

Plata is a direct lender, not a broker which means you can communicate with them yourself, making it easier to ask questions and request changes.

Other reasons for choosing personal loans from Plata include:

  • Competitive interest rates from 14.9% to 34.9%.
  • Fixed-rate monthly repayments on your chosen date.
  • No fees are ever charged.
  • No impact on your credit score if you are not approved.

Eligibility

You’ll need to be aged at least 18 and a UK resident to apply for a Plata loan. 

You’ll also need to have a debit card, as loan repayments are collected using a Continuous Payment Authority (CPA). 

These aren’t the only eligibility criteria. Plata will make a decision on whether to lend to you based on the information you supply to them.

You can apply for a Plata top-up loan once you’ve made at least 10 consecutive monthly repayments on time.

Are there any charges?

Plata doesn’t charge any upfront sign-up fees or late payment charges. 

Before you submit your loan application, you’ll always be shown the exact interest rate, APR, and how much you’ll have to repay over the life of the loan. If your application is approved, you’ll receive the full amount you applied for and won’t have to pay any charges.

Why compare loans with Compare the Market?

Check your eligibility with no impact on your credit score

Compare loans in just 4 minutes[1]

We search from a range of leading providers

[1] Correct as of September 2023

Compare the Market Limited acts as a credit broker, not a lender. To apply you must be a UK resident and aged 18 or over. Credit is subject to status and eligibility.

Frequently asked questions

How much can I borrow from Plata?

You can borrow £2,000 – £20,000 from Plata.

To see what your repayments could look like, use our loan calculator.

Can I get a Plata loan with bad credit?

To see if you’re likely to be accepted for a Plata loan with bad credit, use our loan eligibility checker. It will show you whether your application is likely to be successful without damaging your credit score, as well as showing you other loans you might be accepted for.

How do I contact Plata?

  • Call 0330 165 5121
  • Email address: [email protected]
  • Mailing address: Frobisher House, Southbrook Road, Southampton, SO15 1GX

Lines are open Monday to Friday 9am-5pm and Saturday 9am-2pm.

 

How do I apply for a Plata loan?

It’s easy to apply for a Plata loan online. But before you do, use our eligibility checker to see if you’re likely to be accepted. It will also show you other loans you could apply for.

You may need to supply Plata with some supporting documents to prove your identity and provide evidence of your income.

Can I pay off a Plata loan early?

Yes, you can pay off a Plata loan early but you’ll need a settlement figure first.

You can request your settlement figure through your online Plata account and it’ll be valid for 28 days from the date it was requested.