Loans by MAL Bad Credit Loans UK with No Early Repayment Charges and Fixed Monthly Repayments

Overview of Loans by MAL

Loans by MAL specialises in unsecured bad credit loans across the UK, offering amounts from £1,000 up to £5,000 with repayment terms typically between 12 and 24 months. The lender advertises fixed monthly repayments and a representative APR (for example 49.8%), making costs predictable for borrowers with poor credit histories.

This product suits people who need a small personal loan without providing collateral and who value clear monthly budgeting. Loans by MAL emphasises quick decisions and fast funding, with approved applications commonly paid within one working day.

Eligibility and how to apply

To be eligible you usually need to be aged between 21 and 75, live and work in the UK and have a minimum net income around £1,300 per month, plus a UK debit card and online banking access. Loans by MAL runs an initial soft credit search that won’t affect your score, followed by a hard check if an offer is made.

The online application is straightforward and designed for accessibility, though decisions can take up to 24 hours rather than being instant. If you want to improve your chances, check your eligibility first and make sure your bank details and proof of income are ready before applying.

Repayments: fixed monthly instalments and no early repayment charges

One of the stand-out features of Loans by MAL is the fixed monthly repayments that give certainty when planning household budgets. Fixed payments mean you won’t be surprised by fluctuating costs, which is particularly helpful when you’re rebuilding trust with lenders.

Crucially, Loans by MAL does not charge fees for early settlements or overpayments, so borrowers who can pay off the balance sooner will save on interest. That flexibility makes these bad credit loans more cost-effective than many short-term alternatives when you have the means to clear debt early.

Pros, cons and who should consider these loans

Pros include accessibility for applicants with poor credit, quick funding after approval, and the benefit of no early repayment charges. The clear downside is the higher APR typical for bad credit loans and a shorter maximum term compared with some mainstream personal loans.

Loans by MAL is a viable option if you need a modest loan and your credit history limits other choices, but always compare quotes and alternatives first. If debt is already a problem, seek free guidance from UK services such as MoneyHelper or Citizens Advice before committing, and consider actions to improve your credit score prior to applying.