Representative Example: Loan amount of credit: £2,000 for 12 months at £ 214.76 per month. Total loan repayment amount of £2,577.07. Interest Amount: £ 577.07. Interest rate: 49.6% p.a. (fixed). 49.6% APR Representative.
Loans for people on benefits are exclusively for individuals with low income and receiving government benefits. Yes, you can get one.
If you are on benefits and need a loan today from a direct lender, you must meet specific criteria. We quickly assess your finances and credit score before providing these loans. If you struggle to qualify for cash on Disability benefits or jobseeker’s allowance, you may grab £1000-£5000 here. To qualify, you must own valid proof of the benefits in slips. You can apply even if you are yet to receive your first benefit payment.
Any student, unemployed, single mother on maternity allowance, retiree, self-employed, or pensioner can apply. We analyse the cash requirement and the purpose before approving. This differentiating perspective makes us more responsible than other lending sources.
As the loan on benefits is for countering any unexpected or necessary expense, you must tap for only EXCLUSIVE purposes. Unemployed individuals needing instant cash with no or less income can check out these as a solution to time-sensitive needs like-
If your need went missing here, you must mention it with your application for on benefits if you need a loan today from the direct lender. With us, you do not need to worry about dented credit profile as we conduct only a soft credit check. You would not be penalised, nor will your credit score suffer.
You may qualify for a personalised loan quote at the portal. We understand securing a stable income amid the psychological and physically changed scenario could be challenging. Thus, analyse your circumstances and finances to channel an affordable quote on loans on benefits.
Our services are not just restricted to a few benefits. There is a huge range of grants that we cover. Our broad analysis and loan features are available for nearly any support you receive under same day loans on benefits. You get the funds in 15 minutes to your linked bank account. You can avail of these if you receive any of the below benefits:
Compared to mainstream lenders, our terms align with the customer’s expectations. If you are on benefits and need a loan today from a direct lender, you have made the best bet. We prioritise crystal-clear lending criteria and terms. There remains no strain of confusion as you can contact us at any hour for clearance.
We don’t force you to fill up the form if you are in a situation. We understand getting funds in unemployment could be overwhelming, and we design an amicable loan agreement. Why fear when you can analyse the exact loan costs before moving further?
The below table stretches out the total cost or the runoff figure of the loan arrangement, which you may expect here.
| FEES | RATES |
|---|---|
| Early Repayment Fee | £0 |
| Upfront Charges | £0 |
| Late Repayment Fee | 1st exempted (8% after that) |
| Penalties | No |
| Hidden fees | £0 |
| Interest Rate | Affordable and Negotiable |
To provide loans for benefits to individuals, we determine the suitability of the amount by analysing the income, outgoings, and liabilities. Every person shares unique revenue and repayment abilities.
We split our repayments into 3,6,9 and 12 months to help you manage things well. Our top concern remains the affordability and comfortable repayments. Though the flexibility is there, you can pre-pay the amount if you wish to. Instead, uphold careful measures to make loans on benefits a breeze for you.
| New Customers | Existing Customers |
|---|---|
| If you borrow an amount for the first time, you may repay any repayment months as per your affordability. | We help existing customers by providing the flexibility to continue their existing patterns if they want to. |
| Fill up the details to send us a loan quote. You may save the details in the portal if you want to. We conduct a soft credit check to determine the amount to loan you. | Once we receive your application, we will release the agreement at the very moment without any detailed checks. |
| You can set up a direct debit to track your payments and avoid missing any. | We cut payments automatically from direct debit |
| We loan only the amount you qualify for. If you need more, switch to bad credit loans or provide additional income support | You may fetch a higher sum if your previous record reveals responsible borrowing |
You can tap ‘payday loans for the unemployed on benefits’ if your needs are around £1000-£2000 at the best interest rates. One pays repayments on every payday, i.e. income-day.
These are exclusively for emergency purposes. You can choose monthly, weekly, bi-weekly, or yearly payments here. If your earnings exceed £400/month, you may qualify for these short-term loans on benefits on less-than-ideal credit history.
Since these are payday loans, the repayment terms are 3-4 months. However, you can rationalise the flexibility to pay within 6 months (24 weeks) or 84 weeks (maximum). Do not worry if you miss a payment due to a delay in receiving the weekly benefit amount, you may repay the next day without any penalties.
The interest rates depend on your credibility and the amount requested for the loan term. If you can pay the amount within 6 months, choose that. You can also pay in a high lump sum. It is ideal if you have 4 rollovers in a row. It would reduce the interest and monthly repayment costs.
More extended repayments may be comforting, but they delay your other financial goals. We make things easier for you by allowing you to repay payday loans with bad credit on benefits early and boost your credit score.
The time of our customers is precious. Unemployment begets challenges that require quick solutions. Our loan sanction process ensures providing cash in a flash. Quickly contact us if on benefits and need a loan today from a prestigious direct lender.
STEP 1- Fill out a no-obligation loan form
Edit the loan form with the amount requirement and the purpose. We identify the affordability given the need and the employment situation.
STEP 2- Send you a loan confirmation mail
After identifying the requirement, we may follow up with you for income proof. You may provide the slip of benefit that you receive.
STEP 3- Attach a few personal documents
You must provide digital documents via your lender‘s online portal for the below products:
STEP 4- Get cash in your account
We will immediately release the funds if we find the attached document authentic.
Once you partner with us, you may return for different loan products like unemployed loans, same-day loans, or very poor credit loans. Though there are a million reasons to contact us, the below aspects will make you dial the number now:
Unemployed individuals may qualify for these loans by meeting the below criteria:
No, these loans are collateral and guarantor-free. If you borrow within the affordability parameter, you would not require one on loan. We drive to keep it independent for you and meet your requirements without worrying about the known ones.
We provide minimal cash assistance on nearly every benefit one receives. However, some need to align with our repayment or loan structure. We do not provide service for the below benefits:
Yes, we provide loans on benefits to individuals with bad credit with no credit check. No credit check here implies - credit report screening that does not impact the credit score.
Yes, you may get a loan if you are retired. If you do not own a pension, you may apply for a loan with the benefits you receive.
