Loans for people on benefits
We are a direct lender providing affordable loans
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Representative Example
If you borrow £500 repayable over 12 months, your total repayment will be £929.40. Your 12 monthly instalments will each be £74.95. We will also charge and a one-off administration fee (6% of loan amount) amounting to £30. The rate of interest applied to the loan is 132% fixed. The Representative APR is 280%.
New customers can apply for a loan of up to £1,000 with repayments terms of between 6 and 12 months.
Existing customers can apply for a loan of up to £3,000 with a maximum repayment term of 18 months.
Loans for people on benefits
At Fair Finance we will consider your loan application even if you receive benefits.
You may have been rejected for a credit application in the past because of your income profile, but we think you shouldn’t be denied affordable credit just because you are receiving benefits.
That’s why we created Fair Personal Loans.
We simply look at our clients’ affordability, whether they earn income from employment, benefits or a combination of the two
Use the calculator above to see how affordable our loans for people on benefits are!
We accept applicants with income from:
- Universal Credit
- Child and Working Tax Credit
- Disability Living Allowance
- Child Benefits
- Employment and Support Allowance, and
- all other UK benefits
Our only eligibility criteria are to earn over £350, be living in the UK and be more than 18 years old.
We created Fair Finance so that nobody is denied fair and affordable credit when it’s needed.
The Fair Finance Service
As a first time client with us, you can:
- borrow up to £800
- repay over 26 to 52 weeks (6 to 12 months)
- choose weekly, biweekly or monthly repayments to make it easier and more convenient to repay
We don’t judge what you need the money for: we understand that sometimes people need help for a big purchase or get bills out the way until the next pay day. We’ll simply look at your individual situation, and ask you any questions that may help us say “yes” to your application for a loan for people on benefits.
Receiving benefits does not need to be a permanent obstacle to accessing affordable credit. Call us on 0208 988 0627 to find out more about our loans for people on benefits, or simply apply online and wait for our quick response!
When you apply online, we aim to come back to you within one working day, but usually we come back in a few hours.
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WHY BORROW A FAIR PERSONAL LOAN
Bad Credit? On Benefits? New to the UK?
Discounts for existing customers
No hidden surprises
LET US ANSWER YOUR FAQ’s
We are a direct lender providing affordable loans of up to £3000
I receive benefits. Can I still apply for a loan?
Yes. Many of our clients receive benefits. The most important factor for us is to make sure you are on top of your finances and can afford our loan.
How do you make a decision?
At Fair Personal Loans, we pride ourselves in not looking at people as “numbers”, and we don’t rely on a simple credit score to make a decision.
During the assessment, we go through your income and expenditure and what debt you may already have, to work out an affordable loan for you. We may also look at things like your bank account management and your credit history to see how you've been managing your finances.
What documents do I need?
Our aim is to make applying for a loan as easy and convenient as possible. We'll use electronic identity and credit checks, as well as bank statements to assess your application. In most cases, this is all we’ll need.
However, if we can’t verify certain information this way we may ask you for more documents such as payslips or benefits letters, a proof of ID or proof of address.
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