Loans by MAL Review UK Affordable Bad Credit Loans from £1,000 to £5,000 with No Early Repayment Charges and Next-Day Funding
Loans by MAL offers affordable UK bad‑credit loans from £1,000–£5,000 with fixed monthly repayments, no early‑repayment fees and funds in your account by the next working day
If you need a clear, practical take on borrowing in the UK, this review explains why Loans by MAL is a go-to for many people with bad credit. Loans by MAL specialises in unsecured personal loans from £1,000 to £5,000, with straightforward terms and the big benefit of no early repayment charges.
What Loans by MAL offers
Loans by MAL provides unsecured loans between £1,000 and £5,000 with repayment terms of 12 to 24 months. The product targets borrowers with poor credit, offering fixed monthly repayments so you know exactly what to budget each month.
Key selling points include next working day funding after approval and a transparent representative APR (49.8% shown as typical), which helps set expectations for those searching for affordable bad credit loans in the UK market.
Eligibility and application process
To apply you must be aged 21–75, live and work in the UK, and earn at least £1,300 net per month. Loans by MAL performs a soft credit search initially, so your credit score isn’t affected while you check eligibility.
The online application is simple and you can expect a decision within 24 hours in most cases. Once approved, funds are usually transferred into your bank account by the next working day, making this a practical option when time is tight.
Fees, rates and repayment flexibility
One of the strongest features of Loans by MAL is no early repayment charges, which means you can overpay or settle early without penalty and reduce total interest paid. That flexibility is rare among bad credit loans and is useful if you get a lump sum later on.
Interest rates are higher than mainstream personal loans due to the risk posed by bad credit, so compare representative APRs and ensure fixed monthly repayments fit your budget. Loans by MAL reports repayments to credit bureaus, so regular payments can help rebuild your credit score.
Support, pros and practical advice
Customer support is available by phone and email; Loans by MAL operates online-only, so there are no branches. Reviews on Trustpilot are generally positive, reflecting quick funding and straightforward customer service from a UK perspective.
Before borrowing, consider free advice from Citizens Advice, MoneyHelper or StepChange if you’re unsure. Loans by MAL can be a sensible choice for bad credit loans in the UK when you need an unsecured loan and can meet the monthly repayments responsibly.
