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Personal
Loans

Personal loan allows you to borrow a sum of money which you will repay, with interest, over an agreed period of time. Find out how to apply for an affordable, personal loan today!
Representative example: Total amount of credit £600 repayable. 12 monthly membership fees of £10. Rate of interest 0% p.a. (fixed). Total cost of credit: £120. Total amount payable: £720. Monthly loan payment: £50. Representative 83.1% APR
smiling Creditspring customer

Memberships
made for plans
big and small.

Start building your credit today and access
your first loan after 14 days.
Check eligibility

Late and missed payments, along with other external factors, can have a negative effect on your credit score.

Extra
Borrow £2,400 a year and repay only
£2,688 in 12 monthly fees.
Plus
Borrow £1,000 a year and repay only
£1,168 in 12 monthly fees.
Core
Borrow £600 a year and repay only
£720 in 12 monthly fees.
Step
Borrow £400 a year and repay only
£484 in 12 monthly fees.
Coins Membership fee
£24/month
Fingers crossed 2 loans per year
£1,200 / £1,200
Wallet Repay each loan in
6 months
Rep APR Representative APR
43.7%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £2,400 repayable over 13 months. 12 monthly membership payments of £24. Rate of interest 0% p.a. (fixed). Representative 43.7% APR. The first repayment for each advance is £200.00, due 45 days after drawing, followed by 5 monthly repayments of £200.00. Total amount payable £2,688.
Coins Membership fee
£14/month
Fingers crossed 2 loans per year
£500 / £500
Wallet Repay each loan in
6 months
Rep APR Representative APR
66.2%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £1,000 repayable over 13 months. 12 monthly membership payments of £14. Rate of interest 0% p.a. (fixed). Representative 66.2% APR. The first repayment for each advance is £83.35, due 45 days after drawing, followed by 5 monthly repayments of £83.33. Total amount payable £1,168.
Coins Membership fee
£10/month
Fingers crossed 2 loans per year
£300 / £300
Wallet Repay each loan in
6 months
Rep APR Representative APR
83.1%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £600 repayable over 13 months. 12 monthly membership payments of £10. Rate of interest 0% p.a. (fixed). Representative 83.1% APR. The first repayment for each advance is £50.00, due 45 days after drawing, followed by 5 monthly repayments of £50.00. Total amount payable £720.
Coins Membership fee
£7/month
Fingers crossed 2 loans per year
£200 / £200
Wallet Repay each loan in
6 months
Rep APR Representative APR
88.8%
Waiting period Waiting period
14 days
Representative example: Total amount of credit £400 repayable over 13 months. 12 monthly membership payments of £7. Rate of interest 0% p.a. (fixed). Representative 88.8% APR. The first repayment for each advance is £33.35, due 45 days after drawing, followed by 5 monthly repayments of £33.33. Total amount payable £484.
Check eligibility

Late and missed payments, along with other external factors, can have a negative effect on your credit score.

Whether you're eager  to go on holiday or you need to borrow money to pay for an unexpected expense, there are lots of reasons you might want to take out a personal loan.

Before applying for a loan, it's a good idea to compare a few different options to find one that's affordable for you.

This is where we can help. Our simple and reliable no-interest personal loans makes taking out a loan easier.

What are the benefits of a personal loan?

With a Creditspring membership, you'll have access to two no-interest personal loans each year.

You won't have to worry about interest rates spiraling out of control or the debt becoming unmanageable.

Thanks to reasonable and clear repayments, you'll know exactly how much you owe and when it needs to be repaid.

Not only do we help you manage your money in the present, we give you the tools you need to improve your finances for the future too. By making each monthly payment on time and in full, you can gradually improve your credit score.

This means that if you need a mortgage, car loan, or large personal loan in future, lenders will be more likely to give you the money you need.

Our products are designed to help you stay in control of your finances. We're here for you when you need funds and we'll offer you peace of mind when you don't.

In a nutshell, we offer you:

  • Two no-interest personal loans each year

  • Manageable and transparent payments

  • The ability to build your credit score over time

  • The opportunity to improve your chances of getting a mortgage, secured loan, or unsecured loan in future

Who can apply for a Creditspring personal loan?

Apply for a no-interest personal loan with Creditspring in a matter of minutes.

To be eligible, you must:

  • Be 18 or over 

  • Be a resident of the UK

  • Provide proof of address.

  • Have a regular source of income

  • Be able to repay your loan

Check your eligibility
What our members
say about us

Different no interest personal loans we offer

Our loans are perfect for anyone in the UK looking for cheap personal loans. As we’re a digital-first lender, our loans are fully online; this means that you can apply for a personal loan on your computer. No need to go through the hassle of heading to a branch to request your small personal loan.

And because we tend to offer loans with lower interest rates (in fact, no-interest at all), our products are perfect for anyone with poor or bad credit looking for a loan.

For anyone looking for a personal loan in the UK, we offer 4 tiers of products to new Creditspring members. Our lowest starts at £7pm members for two £200 loans (so totalling £400, rep APR of 88.8%) over a period of 12 months. We then go all the way up to two £1,200 loans, for just £24pm (Rep APR 43.1%).

Compare Creditspring personal loans

Our loan sizes are £400 (2 x £200), £600 (2 x £300), £1,000 (2 x £500) and £2,400 (2 x £1,200) each with a different monthly membership cost starting from just £7pm

And because the loans we offer carry no interest, they’re great for personal loans for bad credit consumers, or those whose credit file is limited.

You can find more details and do a personal loan comparison on our products here.

Get a loan
Empower your financial journey with a personal loan from Creditspring. Money solutions just a click away.
Check your eligibility

A unique personal loan with bad credit option

Getting a personal loan with bad credit can be a challenge. Most lenders want reassurance that the people they lend money to will be able to pay the money they borrowed back. To reduce risk, lenders will carry out a credit search to find out how well that person has handled debt in the past - such as have they been able to keep up with repayments, do they have any court injunctions, etc. This may not be the only check and assessment they do to understand your eligibility for a loan with them but will play a significant part.

If you've struggled to handle monthly repayments on previous or current debts, this may make it harder for you to get a loan in future.  However, there are many banks and providers that may still be willing to lend to you.  It is likely though that you will be subject to higher interest rates on those loans.

How can I check my eligibility for a Creditspring personal loan?

We have a process in place that allows potential borrowers to check their eligibility without affecting their credit score.

What happens if my application is rejected?

If you apply for a Creditspring membership only to find you're not eligible, this won't affect your credit score. Instead, it will leave a “soft footprint” on your credit report that only you will be able to see. This means that when you apply for loans in future, our decision won't influence lenders' decision. If you are rejected by us though, don’t lose hope and consider signing up to our Hub where we can (with your permission) continue to periodically carry out a soft check on you and let you know when you might be eligible for a Creditspring loan.  The Hub also offers tips on how to improve your credit score as well as introduce you to some companies that can help with various elements of your financial stability. 

What happens if my application is approved?

If we approve your application and you decide to go ahead with Creditspring membership, we will carry out a more thorough credit search. 

This will leave what's known as a "hard footprint" and will be viewable on your credit report. Once you are a member, we will regularly update the credit reference agencies with details of your membership payments and loan repayments.

If you make each monthly repayment on time, this can have a positive impact on your credit rating. The credit reference agencies will record this on your credit report and future lenders will be able to see how well you managed your loan with us.

Join Creditspring
Are you ready to start your journey with Creditspring?
Check your eligibility

FAQs

What are the common misconceptions about personal loans?

Even if you don’t have a perfect credit history, you may be able to get a personal loan. Lenders consider a wide range of criteria when checking applicants and can even provide an offer on the same day, contrary to popular opinion. While many believe that personal loans are very expensive, you can get a personal loan with lower interest rate agreements than credit cards.

How personal loans in the UK differ from other credit options like credit cards or payday loans?

Personal loans often have a fixed repayment term of months or years, while credit cards have a revolving line of credit with no set end date and payday loans usually have a shorter term of 30 days or fewer. While credit card interest rates can vary, you can get very low rate personal loans, which tend to be much cheaper than payday loans. All three credit options tend to be unsecured and versatile, designed for a variety of uses.

What happens if I miss a payment on a personal loan for bad credit or default on the loan?

Each lender has different terms for their loans. If you miss a payment, you may be charged a late fee or your interest rate may increase, meaning you will owe more money. If you default, your credit score will be negatively impacted, which can make it harder to borrow in the future. In some cases, lenders may take legal action to get the amount owed back. You should make payments for personal loans online, manually, or automatically to prevent such situation, but if you ever find yourself in this spot, always reach out to your lender. Talking it out can help both sides come to a solution together.

Can I get cheap personal loans for any purpose or are there restrictions on how I can use the funds?

If you want to apply for a personal loan cheap options are available, and most come without restrictions on use. You can use the funds for a variety of purposes, such as travel, home renovations, unexpected expenses. Although most are versatile, each loan has different conditions, so it’s important to check the individual terms with your lender.

How to get a small personal loan in the UK?

In the UK, you can usually apply for personal loan products online via banks, lenders, or brokers. Conduct research to find a lender that suits your needs, and check that you’re eligible on their website. You’ll need to provide details about your finances, including income, outgoings and address, and the lender will conduct a check on your credit report to verify your information. Once you’ve passed the checks, the lender will let you know what the outcome is and if you are eligible.

What fees and charges are associated with personal loans with bad credit?

Loans come with fees and charges, but if you have bad credit personal loans can cost more than they would with good credit. Most loans charge interest, which may be at a higher rate due to the potential risk to the lender. When setting up the loan, you may be charged an origination or processing fee and if you miss a repayment, late payment fees may apply.

Check your eligibility