Benefit Loans | Compare Loans On Benefits - Apply Today
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  • Loan Amount
    £ - £
  • Loan term
    - Months
  • Interest
  • APR
Loan MR
  • Loan Amount
    £100 - £5000
  • Loan term
    1 - 24 Months
  • Interest
    49.9%
  • APR
    49.9%
Representative example: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28. Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative (variable). CreditSpring – £250
  • Borrow £250 twice a year, available on demand
  • Membership fee is £6 per month (£72 a year)
  • Repay each advance in 4 monthly payments
  • 0% interest rate, you pay back only what you’ve borrowed, plus your monthly membership fee
  • Loan Amount
    £500 - £15000
  • Loan term
    12 - 60 Months
  • Interest
    Variable
  • APR
    49.7%
Borrow £4,000 over 36 months. Monthly repayment of £194.78. Total repayable is £7012.08. Interest payable is £3012.08. Fixed APR of 49.7%. Interest rate of 41% per annum. Representative APR 49.7% (fixed). Talk Loans
  • Submit your application to multiple lenders
  • High chance of approval
  • Rates from 29% APR to 69.9% APR
  • Loan Amount
    £3000 - £50000
  • Loan term
    12 - 60 Months
  • Interest
    10.87%
  • APR
    21.8%
GOOD CREDIT SCORE: Loan amount £5000 – 48 monthly payments £129.17 Total cost of credit £1200.16 – Total amount payable £6200.16 – Representative example 12.9% APR. This is a yearly flat rate of interest of 6%. This is a fixed rate.
What Credit
  • Low Rate Car Finance Packages
  • Choose The Car From Any UK Dealer
  • Finance For Good & Bad Credit Profiles
  • Same Day Drive Away Car Loan Schemes
  • Flexible Repayment Terms For Your Car Loan
  • Loan Amount
    £1000 - £15000
  • Loan term
    48 - 60 Months
  • Interest
    20.33%
  • APR
    39.9%
Representative Example: 36 Monthly Repayments, borrowing £5,000. Total Amount Payable: £8,049.60. 39.9% APR Representative. Rate of Interest 20.33%, Fixed Flat Rate. Monthly Repayment: £223.60. TFS Loans
  • Considers bad credit, CCJs, debt consolidation
  • Loan can be paid in hours if approved
  • Award winning trusted guarantor lender
  • Loan Amount
    £500 - £10000
  • Loan term
    12 - 60 Months
  • Interest
    24.20%
  • APR
    47.8%
Representative Example £3000 over 3 years, representative 47.8% APR Fixed. Monthly payment £143.84. Annual interest rate 24.2% Fixed. Interest payable £2178.24 Total payable £5178.24.
1plus1 Loans
  • Fantastic loan guarantor product to help those with poor credit
  • Loans are flexible and can be used for any purpose
  • Great for parents who want to help children build their credit score
  • Online customer service team that operates 24 hours per day
  • Loan Amount
    £550 - £50000
  • Loan term
    12 - 36 Months
  • Interest
    159.70%
  • APR
    450.5%
If you borrow £850 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will repay 17 monthly payments of £140.72 and 1 payment of £140.76, repaying £2,533.00 in total. Loans2Go Logbook Loans
  • Use your vehicle as collateral to increase the chance of acceptance
  • Generous and flexible loan terms of 12 – 36 months
  • Retain complete use of your vehicle during the loan
  • A lender with more than 15 years of industry experience
Other types of loans

Loans For People On Benefits

The fact is that we all need a helping hand financially at time, but not everyone has the advantage of being in full time or meeting the income criteria of some lenders. This has traditionally been a big stumbling block for those on benefits, but the good news is that more and more lenders are now specialising in loans for people on benefits.

Whether you’re looking to improve your home, repair a vehicle, take a break, or simply need some extra cash to tide you over, CreditRaters.com can help.

How Do Loans For People On Benefits Work?

Benefit loans are designed for those with receive some or all of their income from government benefits. This can include Jobseeker’s Allowance, Universal Credit, Housing Benefit and Tax Credits.

Rather than adopting a computer says no approach to each online application, many lenders will now assess each case on its own individual merits, primarily looking at your ability to afford monthly repayments.

They’ll take into account factors such as your individual and household income, the purpose of the payday loan, any hours that you do work and your own personal credit score.

Loans for people on benefits are issued by bank transfer in the same way as a standard personal loan and you’ll need to repay the amount borrowed each week or month, plus interest. The dates or your benefit payday loan repayments will be listed on your credit agreement, helping you to avoid late repayment fees.

Am I Eligible For Benefit Loans?

Each individual lender brings their own acceptance criteria to the table, and the same applies for specialist benefit loans lenders. You’ll need to provide them with information about your personal and financial circumstances and they may carry out a credit check to assess both your creditworthiness and ability to repay.

No matter what lender you choose to apply to, you’ll need to fulfil some basic eligibility requirements, including:

If you’ve had problem with credit in the past then all is not lost. CreditRaters.com works with an ever growing panel of lenders who can help you to find a great deal on your next benefits loan.

Once you’ve been accepted and successfully repay your loan, this will be reflected in your credit score. By improving your credit score over time, you’ll increase your chances of being accepted for other forms of credit in the future.

How Can I Apply For Benefit Loans?

Comparing each individual benefits loans can be incredibly time consuming plus there’s still a chance that better deals might be available. By using CreditRaters.com to compare benefits loans, you’ll be able to quickly and easily find a fantastic deal for your circumstances without having to wait days for our decision.

It all starts by getting your personalised comparison. Simply enter a few details about your circumstances and we’ll instantly match you with mainstream and independent lenders from across the UK.

Take a look at the different interest rates and eligibility criteria to make sure that you’ve chosen a suitable lender then finalise your application for an instant online decision. You’ll then receive a credit agreement to sign and return electronically. In many instances, funds can be transferred straight to your bank account on the very same day that you apply, so you can focus on getting your finances back on track.

Start your journey to a great deal on your next benefit loans by getting a free, no obligation comparison with CreditRaters.com today.