£2000 Loan
Need a £2,000 loan? At Drafty, we offer personal loans when you need additional funds. People may consider a £2,000 loan when they face unexpected expenses. We provide a simple borrowing experience with clear terms. If approved, the money can be sent to your bank in just 90 seconds*.
Representative 79.9%APR
Representative Example: Given a Representative APR of 79.9%, if you borrow £1000 over 18 months at 59.9% p.a. (fixed), you would owe 18 equal repayments of £85.56. You will repay £1,540.08 in total.
Not all applications will be approved for credit. An offer of credit is subject to status and affordability checks.
Why choose Drafty for a £2000 loan?
Fast
Cash sent to your bank in under 90 seconds, if approved. It may take longer to reach your account depending on your bank’s processes.
Varied repayment periods
Repay in 12, 18 or 24 months.
Convenient
Secure online application available 24/7. An instant decision.
What is a Drafty £2,000 loan?
Our loans provide a fixed amount that you repay. This can be an option when you need a specific sum for a planned or unexpected expense. With our loan product, you’ll know what your fixed monthly repayments will be each month. This makes it easier to budget and manage your finances.
We understand that time matters when you need funds. We’ve designed our processes to be efficient and once you’re approved the money will be sent to your bank account with 90 seconds*.
Eligibility criteria for a £2,000 loan
To apply for a £2,000 loan with Drafty, you need to meet the following criteria:
- Age: You must be at least 18 years old.
- Residency: You must be a UK resident.
- Income: Earn at least £1,250 a month.
- Bank account: A valid UK bank account and debit card is required.
Once you apply, we’ll run credit and affordability checks. We do this to make sure that you can afford the monthly repayments.
Representative 79.9%APR
How to apply for a £2,000 loan online with Drafty
Once you have checked our eligibility criteria, you can apply:
Apply
Click on the apply now button and complete our online application process. Choose how much you want to borrow. Then, fill in your personal details as well as employment and banking information. It usually takes 15 minutes or so, but application completion time may vary.
Checks & approval
Once we receive your application, we’ll run affordability and credit checks. We do this to see if you can afford the repayments on top of your existing financial responsibilities. In most cases, we’ll give you an instant decision.
Get your money
If approved, we will send the money to your bank in 90 seconds. It may take longer to reach your account, depending on your bank’s processes.
Representative 79.9%APR
Can I get a £2,000 loan with bad credit?
Yes, it is possible to get a £2,000 loan with bad credit. Some loan lenders consider more than just your credit score when reviewing your application. They may check your overall financial situation, not just your credit score. This includes your income and ability to make monthly repayments.
At Drafty, we look beyond your credit rating. There is a chance you could still be approved for a loan with a low credit score or poor credit history. If approved for a Drafty loan, we’ll send the money to your bank within 90 seconds*.
Repaying your £2,000 loan with Drafty
Your loan is repaid in equal monthly payments. The repayment amounts depend on whether you choose a 12, 18, or 24-month term. Making repayments for your Drafty £2,000 loan is simple. With continuous payment authority, your monthly payments are automatically taken from your bank account on your due date.
Prefer to repay manually? You can also pay using a debit card, Google Pay, or Apple Pay through the Drafty app.
Want to repay your loan early? There’s no early repayment charge, so you can save on interest by clearing your balance sooner.
What can I use a £2,000 loan for?
A £2,000 loan can help cover a range of expenses when you need extra funds. Whether it’s an urgent cost or planned spending, a loan from Drafty gives you flexibility.
- Car Repairs – Fix an unexpected breakdown without delay.
- Home Improvements – Upgrade your space with repairs or renovations.
- Unexpected Bills – Cover urgent expenses without stress.
- Dental Costs – Pay for treatments or urgent care (if going through a private dentist).
- Emergency Expenses – Handle any sudden financial situation quickly.
What if my £2,000 loan application is unsuccessful?
If your £2,000 loan application is declined, don’t worry, there are steps you can take to improve your chances in the future.
Check Your Credit File
Ask the lender which credit reference agency was used to assess your application. You can then review your credit report to ensure all information is accurate.
Improve Your Credit History
Work on building a good credit score by making payments on time, reducing debt, and avoiding multiple loan applications in a short period.
Settle Other Debts
Paying off outstanding balances can improve your affordability and increase your chances of approval next time.
Seek Financial Advice
If you’re struggling with money management, a financial professional can help you explore other options.
A rejected application doesn’t mean you won’t get approved in the future. Taking these steps can strengthen your credit history and improve your chances next time.
FAQs – £2000 Loan
What credit score do I need for a £2,000 loan?
Obtaining a loan with a lower credit score can be challenging. A limited credit history may make borrowing more difficult. We look at your overall financial situation alongside credit checks. A good credit score improves your chances.
What is the monthly repayment on a £2,000 loan?
Monthly repayments vary depending on the length of the loan and the interest rate. With a Drafty loan, your monthly repayments are fixed for the term of the loan. This helps to provide clarity on your financial commitment.
Can I pay off my £2,000 loan early?
Yes, you can repay your loan early with Drafty. You won’t be charged any early repayment fees. Paying your loan early can reduce the total amount of interest you pay. We make the process simple and transparent. You can manage your borrowing in the way that suits you best.
How does borrowing a £2,000 loan affect my credit score?
Taking out a new loan will appear on your credit report. Managing repayments responsibly by paying on time may positively affect your credit score. Conversely, missed payments can harm your credit rating. Our initial eligibility check uses a soft search that won’t impact your credit file.
Please think carefully about whether Drafty is the right solution for you. This is even more important if you're in financial difficulty. If we don't think you can afford to repay your credit, we won't be able to approve you. We'll look at your current finances and credit history before we decide whether to give you credit. Failure to repay could impact your credit file.