How it works

At Plata, we’ve made applying for a loan a simple, stress-free process.

Once you know how much you would like to borrow, just fill in the form with some details like your address, your employment and income details, and we’ll make a prompt decision on the best personal loan for you.

Tell us how much you would like to borrow

Use our calculator to tell us how much you would like to borrow and over how many months. We'll ask you for some details. If you are eligible, we will return a quote that will not impact your credit score.

Fill out your details

If you'd like to proceed with the quote offered, you'll be promoted for some additional information. Once submitted, we'll review the information provided and may ask you for some documents to verify the details on your application. You can provide all documents safely and securely through our online tool. A handy guide on this can be found in our FAQs.

Get a decision

Submit your documents and sit back. If there’s anything else we need, our friendly staff will be in touch. We will give you a decision typically within 1-2 working days.

Should you have any queries outside of the given opening hours then our Frequently Asked Questions (FAQ) page may provide more immediate answers to our most common queries.

View all FAQs

Plata is a direct lender, not a broker. We lend from £2,000 to £20,000 at rates matched to your credit profile, giving you the best rate we can.

Borrowing directly from a lender rather than a broker means your communication is directly with the lender making it easier to ask questions or request any changes. It also saves you from any potential broker fees. As a direct lender, we charge no fees.

We offer a personalised instant quote, allowing you to check which loans you could qualify for with no impact on your credit score.

We do not have any upfront sign-up or origination fees when applying for a loan nor do we deduct any such fees from your loan advance. We do not charge any late payment fee either. You will receive the full amount you applied for and you will never repay more than the total amount repayable shown in the loan agreement.

Before you submit your loan application, you will always be shown the exact interest rate, APR, and how much in total you will have to repay over the life of the loan. This will help you compare our loan with other lenders.

It is also worth noting that Plata only works with credit brokers and intermediaries that do not charge you separately.

A pre-approved offer means that, based on the information you have provided us, you match our initial eligibility criteria for a loan. This evaluation is based on a soft search, giving you more confidence to proceed.

Once the application is submitted, all pre-approved offers are subject to further checks, and as a responsible lender, we may on occasion need to decline a pre-approved offer.

Once approved and e-signed, the earliest you can get your money is the same day or the following business day.

For some applications, it might take longer. Please note, Plata reserves the right to, on occasion, delay the paying out of a loan on the same day.