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Late and missed payments, along with other external factors, can have a negative effect on your credit score.
Membership fee
2 loans per year
Repay each loan in
Representative APR
Waiting period
Membership fee
2 loans per year
Repay each loan in
Representative APR
Waiting period
Membership fee
2 loans per year
Repay each loan in
Representative APR
Waiting period
Membership fee
2 loans per year
Repay each loan in
Representative APR
Waiting period
Late and missed payments, along with other external factors, can have a negative effect on your credit score.
As more and more banks and building societies disappear from our High Streets, the convenience of borrowing from online lenders is hard to deny. You could make your application from the comfort of your sofa or even on your commute to work!
However, with so many online loans in the UK to choose from, each with their own terms, conditions and fees, it’s crucial to compare different reputable lenders and their products to ensure your loan suits your individual needs and circumstances.
Like traditional loans, online loans are lump sums of money (anything from £50 to over £100,000) that you borrow from lenders like banks, building societies and other loan providers and then pay back, usually with interest. The difference is you apply for them online (i.e., via your computer, mobile phone or tablet), rather than going through a face-to-face application process you might expect when going into the local branch of your bank, for example. This usually means there’s no need to fill out forms by hand and you could get a decision fairly quickly – sometimes in seconds.
Depending on the lender and if you’re approved, the funds may even be transferred to your bank account on the same day, like with instant online loans. But, if you’re looking for a quick online loan, it’s important to remember that this kind of borrowing usually comes with super-high interest rates and strict loan terms, meaning your loan could end up being much more expensive if you don’t keep up with your repayments. That's why you should always think very carefully about whether you can afford a loan in the first place.
We do! All Creditspring loans can be applied for online through a very simple process, which is ideal if you’re looking for easy online loans without complicated forms to fill in.
As a subscription finance service, we’re different to most traditional High Street and online lenders. We provide small, no-interest (APR Rep 83.1%), online loans of between £400 and £2400, even if you have bad credit. All you pay with your repayments is a low, monthly membership fee.
We believe our holistic approach to finance enables us to support our members, so they only ever borrow what they can afford and ultimately develop healthier financial habits.
The best way to check if you qualify for one of our loans is to use our free eligibility checker. Give us a few details and we’ll give you an answer in less than a minute.
Got a poor credit history? You may be wondering if any online loans with no credit check are available. Your credit score is often the first thing many lenders look at and this can make finding an online loan more challenging if you have bad credit - but it’s not impossible.
At Creditspring, we look beyond your credit history when assessing your eligibility, keeping in mind your overall financial situation, as well as your ability to repay the loan. This means that even if you have bad credit, a Creditspring online loan might still be an option for you. as We take a holistic approach to finance, supporting our members so they only ever borrow what they can afford, and helping them develop healthier financial habits.
A loan that can be accessed quickly means, if you’re approved and depending on the lender, you could have the funds within hours, like with a type of borrowing sometimes referred to as a same day online loan. Your bank is one example that may approve your online loan application swiftly if you have proven to be a reliable customer and have a good credit rating. The sooner you receive the funds, the sooner you can use them, which can be especially useful in an emergency.
Any type of loan that can be issued quickly should always be considered carefully, so it’s important to do your research and compare different lenders and their products, especially if you have a poor credit history. Accessing funds rapidly, like with same-day loans, may come with caveats, such as high interest rates and strict repayment terms, and this could make your loan more expensive. Your borrowing options may be much more limited, too.
You’ll need to go through our quick eligibility process first. Subject to our checks, once approved, all our loans for new members come with a 14-day change of heart period. So, if you’ve changed your mind and don’t need the loan anymore, or you want to delay it, you’ve got a couple of weeks to decide.
Our online loans are split into two equal and manageable parts, to be repaid in fixed, monthly instalments. You’ll receive the first half of the loan after you request it, and the second half becomes available once you’ve paid off the first on time and in full.
If you’ve been searching for an instalment loan online, you’re bound to have seen lots of options, as these are usually any type of loan that you need to repay in monthly repayments over a fixed period of time. Online loans with monthly payments could be a mortgage, or a personal or student loan, for example. They can provide a structured way to borrow money with predictable, fixed repayments, so you always know how much you need to pay back each month.
You may find a guarantor for a loan online, if you have bad credit or no credit history. A guarantor is someone who agrees to be responsible for repaying the debt if you can’t, so if you default on the loan, your guarantor will be liable for the repayments. Lenders will usually determine whether you need a guarantor or not when they’re assessing your eligibility, so when your credit score is poor, having a third party to guarantee your loan may help you access finance you may struggle to get otherwise.
Online loans for unemployed people may not seem like an obvious option, but some lenders do provide them. However, they can be very expensive, so approach them with caution. At Creditspring, responsible lending is our priority, and our standard eligibility criteria apply for all our loans, including being a UK resident aged 18 or over, having a stable income and satisfying our affordability and credit checks. If you think you could be eligible for benefit support, our free Benefits Finder is a good place to start – you could discover unclaimed benefits worth up to £850 a month*.
Not yet eligible for a Creditspring loan? It’s free to become a Creditspring member and we can help you build your credit, even if you don’t borrow from us.
*Figures based on 28,876 people who used the benefits checker tool between 22nd September 2022 and 5th November 2023.