What service does Hippo offer?
At Hippo, we aim to ensure that we find the best loan deal for our customers and to provide clear and responsible information along the whole process.
How can I apply for a payday loan with Hippo?
Applying for a loan is a simple process, complete the loan application form and submit your details, you will have a decision on your loan from our panel of lenders within a two minutes but usually a lot faster than this.
How long does the loan application take?
The loan application one submitted only takes a couple of minutes to get your decision from our lenders. If you have been accepted before 3pm then funds can be deposited to your account same day, if it's after 3pm then funds will be deposited the next working day, depends on your circumstances - further information may be required to support your application.
How much can I borrow?
How are the loan funds sent to me?
The loan amount will be deposited straight to your bank account. The amount of credit that you can borrow will be wholly based upon your personal circumstances, you can apply for our maximum loan $1200 but your chances of being accepted are higher if you choose an amount $500 or less. Please see our charges page for more information.
Who can get a loan?
Each payday loan lender will have their own qualifying criteria, but some elements stay the same across the board. For example, you must be aged 18 years of over to apply for a payday loan, you must be able to provide proof of your identification and you must have an active bank account, which can accept direct debits.
When can I get another loan?
We're all for responsible lending so we'll only give you one loan at a time. Once your loan is paid back you can reapply at any time.
What information do I need to provide?
We need to take your standard personal information during the loan application to verify who you are, help match you to a loan lender who is appropriate for your circumstances.
Will a poor credit history affect my application?
Yes! No matter what your credit score you can still apply for a payday loan through us. Many lenders do not check your credit file and this is due to the short term nature of the loan. Because you will be expected to re-pay your loan after a maximum period of 45 days, many lenders are only interested in your current circumstances, rather than how well you have re-paid credit in the past.
How are the loans repaid?
The payday loan needs to be repaid on your before the agreed payment date in your contract. The amount will be debited from your account on that agreed payment date.
I am having problems repaying my loan - what should I do?
If you are aware that you will be unable to re-pay all or some of your loan then you must contact your lender as soon as possible. Lenders are aware that people's circumstances change, sometimes without prior warning and they will therefore work hard to help you. The worst thing that you can do is not let the creditor know and bury your head in the sand. Taking out a loan is a serious endeavour and you must not do so if you know that you will not be able to pay the money back.
There maybe penalties and additional fees and charges that may apply should you not adhere to the terms of your loan contract including dishonoured payment fees and other default fees as detailed in your loan contract. In the unfortunate event of a default we may also notify credit reporting agencies by way of a default lodged on your credit report if you fall behind on your repayments. In the event of a non-payment, we prefer to seek to negotiate a resolution to cure the arrears, prior to resorting to court action.
Is Hippo a direct lender?
Hippo is not a direct lender. We are a leading loan broker website and use the latest technology to help our customer secure payday loans. Our panel of lenders is always increasing meaning your chances to secure a loan may increase.