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We are an Introducer Appointed Representative of Quint Group Limited, who are a credit broker not a lender. serpable Introduces customers to Monevo Ltd who are an Appointed Representative of Quint Group Ltd. for the purposes of obtaining a loan. serpable does not provide any loan or consumer credit products directly.

  • STEP 1
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  • STEP 2
    Get Approved

  • STEP 3
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I’d like to borrow:


and I need it for:

1 Months
12 Month
You want to borrow
£1000 for 12 Years
£1000 for 2 Month

Low Interest Loans For Bad Credit

Procuring small low interest loans with bad credit nowadays is not impossible as there are many banks and credit unions offering such loans. The good news is that most applications are approved since lenders look for a few requirements only. However, when you look at the fine print deeply, you’ll know why most lenders insist on offering their financial assistance. These loans are referred as personal loans, bad credit personal loans, payday loans, bad credit mortgage, business loans, home equity loans, unsecured credit card loans, debt consolidation, student loans, and the list goes on. Because of the strong competition in the market, borrowers are having a hard time choosing the right lender. In case you’re looking for low interest rate loans, this article will serve as your guide in knowing the risks associated with two of the most used loans.

Payday Loans

This type of short-term loan is popular to employed individuals. From the name itself, the loan is settled using the next paycheck. The interest rate that you will acquire depends on the size of the loan that you’re borrowing and/or your credit rating. Therefore, if you want a cheaper payday option, make sure that your credit remark is good, if not excellent. Nevertheless, despite the high costs that this loan comes with, a lot of people still see it as their primary resort when they are in dire need. Low interest payday loans are paid out within 24 hours and it is sent directly to the borrower’s bank account. Otherwise, you need to visit the loan office to get your cash.

Giving the lender an access to your account so that you can repay the loan without any hassle is very convenient, however, it is also risky at some point. Once the amount is deducted from your account on the agreed time of payment and you have no money that time, then you will fell short for the next month. Therefore, you need to borrow again; this is what traps the loan seeker in the cycle of debt. The series of borrowing, paying, running out of money repeats on and on, therefore, the borrower should consider if this loan is worth more than once.

Personal Loans

Because of the economy we have nowadays, many people are experiencing financial difficulties, thus, the need of such loan. A personal loan can be used in any way you want, such as for financing groceries, debt consolidation, expanding a business, education, medical bills, vacation, and special celebrations. Personal loans are risky for the lenders especially if it is on unsecured type. Because of this, they put expensive rates instead to lessen the threat against their money. Like payday loans, the interest is higher if the borrower has an unfavourable credit history. On the other hand, good credit applicants are given lower interest rates.

Nevertheless, you have the option to minimise your expenses every month. Lenders will give you an option to settle the loan with lower monthly payments. However, although the monthly amount appears smaller, the interest rate is really bigger especially if it is settled over a longer period.

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