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Oakam

More about this Company

Oakam provides straightforward and simple financial services for people who find it difficult to borrow from banks. Our customers are either un-banked due to recently moving to the UK without a credit history or those under-banked due to getting into financial difficulty in the past. We aim to accept, not reject by considering more than just your credit score.

We currently have stores across London and the Midlands on high streets to make them accessible to the communities we serve and a telephone based Virtual Store to serve the rest of the UK.

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Basic Lending Information

  • FCA License Number 678734
  • Lender is a Member of a Trade Association No
  • Short Term Lender No
  • Instalment Lender Yes
  • Continuous Payment Authority Yes
  • Credit Checks Yes
  • Same Day Transfer Available Yes
  • Loan Length 12 Month to 36 Month
  • Online Account Management No
  • Representative Example Installment 73.1% APR representative based on an annual interest rate of 55% (variable). Representative example: Borrow £2,500 over 104 weekly periods, first instalment £54.86 then 103 instalments of £39.75. Total repayable £4,149.11, total cost of credit £1,649.11. Rate varies by term selected.
  • Representative Example Short Term

Oakam Review

Oakam is an instalment Lender offering an exciting product in their 'Lift Loan' where you could borrow £1,000 - £5,000 and pay it back over 12 to 36 months.

The website is vibrant and easy to navigate, the descriptions easy to read and understand. A LenderSeekers recommended service.