Apply for a loan of up to £25,000*

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
    Apply Online

  • STEP 2
    Get Approved

  • STEP 3
    Get Your Cash!

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 No Credit Check

Having a bad credit is not a good thing especially when you’re trying to create a new line of debt. Automatically, borrowers are declined whenever they apply for a loan in banks and other lending institutions because of their poor remarks. Sadly, it is inevitable especially with the unfavorable economy we are experiencing. If one of those lenders do accept you it is often at the price of the low interest rate loans. Luckily, the availability of lenders is huge and since the competition is tight, most of them have created ways to entice all borrowers, even those who have bad credit scores.

Low-interest loans no credit check is made possible because lenders believe that the eligibility of the applicant should not be based on the credit scores alone. In fact, there are other factors that affect the application such as the employment and income, outstanding debt, and payment history.

Employment And Income

Firstly, low interest loans for bad credit are made to be repaid. Depending on the agreed period, the lender should receive his money back together with the interest and other charges. The repayment period can be between 6 to 26 months, thus, it’s important to provide proof that you can settle it on time. Showing proof of employment is necessary to be eligible and this means providing the lender with a copy of your payslip and/or Certificate Of Employment. These are necessary because the lenders will be at ease knowing that you can repay it back. Aside from employment, the borrower acquires a loan through a pension or benefits. However, it is still necessary for self-employed individuals to submit requirements, such as the business permit and financial statements.

With a low interest payday loan, some lenders require a specific amount to be qualified. In most cases, the income is used to determine the amount that the borrower can avail. For instance, the income is bigger then he can ask for more loan amount.

Outstanding Debt

The lender will conduct a background check to know you, financially. This means more than just checking your credit score but finding out if you have any outstanding debt. As a lender, they expect you to repay the loan, thus, they want a borrower who can manage all his debts. As possible, repay your entire outstanding debt to make your application more appealing.

Otherwise, it is advisable to keep your debt-to-income ratio to a minimum. This means that your gross monthly income should not be consumed by your debts alone. Keeping it low increases your chance of approval; it also gives way to a lower interest loan.

Payment History

Your previous loan experiences play an important role in your application. If the lender sees you as a responsible borrower who pays on time, you are a low risk to their business. But, if you practice late payments or arrears, this shows your negative side. As a lender, all they want is to protect their money, therefore, they will either decline your application or charge you with sky-high rates.

Now that you know the several factors that affect your loan application, you can prepare effectively for the application process. Be sure to take note of each so you’ll what to do and which one to avoid.

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