Loans for bad credit

Looking for a personal loan? Our quick eligibility checker won't affect your credit score, and we assess every application individually - even if you think you have bad credit.

  1. Getting a quote won’t impact your credit score

  2. Link your bank account for a fuller financial picture

  3. Borrow £1,000 - £25,000

  4. Most customers get their loan in less than an hour

Assumed borrowing of £7,500 over 36 months at 12.5% APR representative. Monthly cost of £248.52. Total amount repayable of £8,946.72. Interest rate of 7.8% p.a. (fixed) and total fees of £450.00. From 8.1% to 49.9% APR. £1,000-25,000 over 1-5 years available. Rates and repayments vary based on your chosen amount and term.

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Illustration showing a credit score increasing with responsible measures being taken
Illustration showing a credit score increasing with responsible measures being taken

What is a loan for bad credit?

So-called “bad credit loans” are just like regular unsecured personal loans, but they’re specifically marketed to borrowers with poor credit scores who may not have access to mainstream lenders and rates. 

At Zable, we believe every customer deserves individual consideration. We take a broad view of your financial situation, considering your income, spending patterns, and current circumstances - not just your credit history.

Whether you have excellent credit, a few missed payments, or are rebuilding after financial difficulties, we assess each application individually. This approach means we can offer competitive rates to a wider range of customers, with APRs from 8.1% to 49.9% depending on your personal circumstances.

How to get a loan with bad credit

Getting a personal loan, even if you think you have bad credit, can be straightforward with Zable.

  1. Use our online eligibility checker

    See if you're likely to be approved without affecting your credit score.

  2. Link your bank account

    We might ask you to link your main bank account in the Zable app to help with our checks.

  3. Customise your loan

    Select a loan amount and term that suits you.

  4. Tell us where to send the funds

    Most approved customers get their loans in less than an hour.

Apply online
Illustration showing the process of getting accepted for a loan with bad credit
Illustration showing the process of getting accepted for a loan with bad credit

What types of loans can you get with bad credit?

Loans that may be suitable for those with bad credit are:

Personal Loans

Our personal loans range from £1,000 to £25,000 with repayment terms from 1 to 5 years. We offer competitive rates based on your individual circumstances, not just your credit history. Our personal loans are unsecured, which simply means you don’t need to offer up an asset to get the loan.

Secured loans

With secured loans, you are required to offer up an asset, like your home or car, as collateral. If you fall behind on repayments, your asset could be repossessed to pay off the debt. At Zable, all our loans are unsecured, so you don’t risk losing an asset.

Same Day Loans

For urgent expenses, our same day loans can provide funds in as little as hours after approval, directly to your bank account.

Short-Term Loans

If you're looking for short-term payday loans, Zable probably isn't for you. As a fair and responsible lender, our repayment terms start at 1 year with lower interest rates than short-term high-cost providers. 

Guarantor loans

With guarantor loans, a family member or friend agrees to pay the debt if you’re unable to. This can help people with bad credit to get a loan as it reduces the risk to the lender. However, if you were to fall behind on repayments, it could damage your guarantor’s credit score and put their finances at risk.

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Why choose Zable for your loan?

  1. Transparent

    What you see is what you pay - your price includes the loan setup fee

  2. Personalised interest rates

    Based on your circumstances

  3. Fast decisions

    Get a quote in minutes online with our simple form

  4. Same-day funds possible

    Most customers have their funds in less than an hour

Apply online
Illustration showing characters around a successful loan quote interface
Illustration showing characters around a successful loan quote interface

What is considered a bad credit score?

Different lenders have varying thresholds for what they consider to be a poor credit score, depending on the credit reference agency they use: Equifax, Experian, or TransUnion. However, they all broadly agree with one another.

Equifax’s credit score ranges are:

Customers in this range may find it difficult to get approved for a loan. You will likely need to take steps to improve your credit score to borrow money.

Individuals in this category may also find it tough to get a loan as lenders can view them as 'high-risk'.

Customers with a good credit score are often considered as 'low-risk borrowers' and should be able to get loans, though perhaps not on as favourable terms as those at higher levels.

Individuals with a credit score in this range can expect to be trusted by lenders.

This range is the most favourable to lenders and you should have an easier time securing credit on good terms than borrowers with lower scores.

Simply put, having a high credit score means you demonstrate to the lender you are a low-risk borrower, whereas having a low credit score may make it more difficult to get approved for a loan.

How to improve a bad credit rating

Improving your credit score can make it easier to get approved for a loan and unlock better rates, but it takes patience and good habits. 

Illustration of a credit score shown on a tablet

Check your credit score

Check your credit report regularly to correct any errors, such as a wrong address, that could impact your score.

Illustration of a three credit cards and a plus symbol

Avoid maxing out your credit cards

Using a smaller percentage of your credit limit and paying off balances in full when possible shows lenders you’re managing your finances responsibly.

Illustration of a stack of bills with a stamp on

Pay your bills on time

The most important step is making sure you pay all your bills and debts, like credit cards, mortgages, and household utilities, on time every month. Setting up direct debits can help ensure you never miss a payment.

Illustration of a magnifying glass being cast over a stack of paper

Limit enquiries for new credit

Try not to apply for multiple loans or credit cards in quick succession, as too many hard credit checks can lower your score. With Zable, you can check your eligibility with a soft search, so there’s no impact on your credit score unless you’re ready to proceed.

What impact do loans have on your credit score?

1. Credit checks

When you apply for a loan, lenders assess your credit report by carrying out a credit check. With Zable, you can check your eligibility and get a quote without any impact to your credit score - this is called a ‘soft’ credit check.

Once you proceed with a full loan application, a hard credit check is performed. This is recorded on your credit file and may cause a small, temporary drop in your credit score.   

2. Multiple applications

Making several loan applications in a short period results in multiple hard checks, which can lower your score and may be seen as a sign you’re struggling financially. We recommend pausing further applications for 4 - 6 months to minimize impact to your credit score.

3. Managing your loan

Making loan repayments in full and on time can help build your credit score over time by showing responsible borrowing behaviour. However, missing payments can damage your credit score and may affect your ability to borrow in the future.

Profile image of Chris Meurice

“If you only borrow what you can comfortably afford to repay and make your repayments on time, it's possible to use a loan to build a stronger credit history and improve your financial profile for the future. Just remember to check your eligibility with a soft credit check first, and avoid making multiple applications in a short period of time.”

Chris Meurice - 8 years with Zable

Alternatives to loans if you have bad credit

If you’re finding it difficult to get a loan, there may be other options available to you.

1. Credit builder credit cards

Credit builder credit cards can help you build a positive credit history if you pay at least the minimum amount back on time each month. You may see them referred to as credit cards for bad credit. They typically come with a lower credit limit and higher interest rates, but repayments can be more flexible.

2. Borrowing from friends and family

Borrowing from trusted friends and family members can allow you to avoid paying interest, depending on what you agree. However, though it’s a more informal route, it’s important to still draw up a written agreement. Be sure to check you can afford to make repayments to protect your relationships.

3. Government support

Depending on your situation, you may be eligible for government benefits to help with your living costs, such as Universal Credit or a Budgeting Loan. You can find out what support may be available to you at gov.uk. 

How can I apply for a personal loan with Zable?

Applying for a personal loan with us couldn't be simpler with our app. Follow the steps below to apply for a loan in minutes:

  1. Check your eligibility in the Zable app or online

  2. Let us know how much you would like to borrow and for how long

  3. Add your personal information such as your income, address and employment details

  4. Get your personalised loan offer

Illustration showing a rejected loan application

Customer story: Rebuilding credit with Zable

After becoming a victim of serious identity theft, one customer-to-be saw their perfect credit history vanish overnight. Despite never missing payments on mortgages or car finance, traditional banks suddenly viewed them as a risk.

When no one else would help, Zable stepped in. Their straightforward app and exceptional customer service provided the lifeline this customer desperately needed to rebuild their credit score.

"The financial system is broken," the customer explains. "As a victim of ID theft, you're treated as a threat by the very institutions that should help you recover." They even struggled to get utilities to allow them to pay monthly.

Thanks to Zable taking a chance, this customer is no longer forced to use expensive prepaid utilities. Their credit file is already showing improvement, allowing access to standard rates for essential services like gas and electricity.

Verified Zable customer via Trustpilot.

Illustration showing a rejected loan application

FAQs about bad credit loans

Still got questions? Let's see if we can help.

Loans for people with bad credit are possible. Apply online to see if you’re eligible for a Zable loan. We assess each application individually, considering your current financial situation alongside your credit history. Complete our simple online application form to see if you're eligible, without affecting your credit score.

We offer loans between £1,000 and £25,000 with repayment terms of one to five years, depending on your income, existing commitments, and personal circumstances. Our loan calculator can help you find an amount that's affordable for your situation.

Our initial eligibility check won't affect your score as we use a "soft search." Only when you proceed with a full application will a "hard search" be recorded on your credit file.

We consider applications from people with various credit histories, including those with CCJs. The loan amount and rate will depend on your overall financial picture and current circumstances.

Yes, as a responsible lender, we always conduct credit checks. However, we consider factors beyond just your credit score, such as your income and current financial situation.

If you have difficulties making repayments, contact us immediately. We can work with you to find solutions that help you manage your loan effectively.

Ready to apply?

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