£500 Loans
You could get a £500 personal loan, even if you have bad credit.
Are you looking to borrow £500?
A £500 loan could provide a financial float in the event of an unexpected expense, such as urgent car repairs or a broken boiler.
In the Little Loans guide to £500 loans, we answer some commonly asked questions, including:
- Could I get a £500 loan with bad credit?
- Could I get a £500 loan today?
- How can I apply for a £500 loan online?
- How long can I borrow £500 for?
Direct lender £500 loan
Looking for a £500 direct lender loan? Little Loans is a credit broker, and we may be able to help you search for a suitable option.
Using one soft search with no impact on your credit score, we can scan our panel of over 30 direct lenders for a loan that matches your financial needs.*
Using a credit broker like Little Loans could save you the hassle of having to research different direct lenders for a loan, while potentially protecting your credit file from multiple hard searches.
Borrow £500: search for a £500 loan online
With Little Loans, you could search for a £500 loan online if you:
- Are over the age of 18;
- Are a UK resident;
- Have a UK bank account and a valid debit card; and
- Have a regular source of income paid into your bank account.
£500 loans online
You can search for a £500 loan with Little Loans 24 hours a day, 7 days a week, at a time and place that suits you.
How long could I borrow £500 for?
The lenders on the Little Loans panel offer £500 loans with a repayment term of either 3, 6, or 12 months.
You should weigh up the repayment options available to you and decide which best suits your circumstances. A loan with a shorter term will cost you less in interest charges; however, a longer term will allow you to spread the cost of your borrowing.
Could I get a £500 loan over 6 months?
Yes, you can search for a £500 loan with a repayment term of 6 months.
I need £500 today; how quickly can I get a £500 loan?
Need £500 urgently? We understand that financial emergencies are worrying, but it’s important to take a step back and not rush into making a decision.
Have you explored other options, like borrowing money from a loved one or saving up the money instead?
Have you considered how repaying a loan will affect your monthly finances?
If you’re confident that a loan could work for you, you might ask, ‘how quickly could I get a £500 loan?’.
Some of the lenders on the Little Loans panel could send your money the same day your application is approved.**
Bad credit £500 loan UK: can I apply for a £500 loan with bad credit?
How is your credit history looking – a little worse for wear? You could still be eligible for a £500 loan.
There are a number of lenders, including several on the Little Loans panel, that specialise in loans for people with bad credit. Please be aware that while bad credit loans do exist, they may come with a higher interest rate.
You are welcome to search for a £500 bad credit loan with Little Loans.
£500 loans with no credit check
You should avoid any company claiming to offer no-credit-check £500 loans.
In the UK, all lenders must complete a full credit check as part of their decision-making process. This is to protect borrowers from the risk of unaffordable lending.
Anyone offering guaranteed £500 loans or no credit check £500 loans is unlikely to be working in line with the regulations set out by the Financial Conduct Authority (FCA), and you should be very cautious about sharing your personal and financial information.
Legitimate firms will appear on the FCA register. You can use the free FCA Firm Checker tool to search for a company or individual.
How to repay a £500 loan
You’ll repay your short-term £500 loan in monthly instalments throughout your chosen repayment term. Your repayments will include interest.
You must make your repayments on time each month. Your lender may charge a fee for a late or missed repayment, and your credit score could be harmed.
If you’re concerned about an upcoming payment, please reach out to your lender as soon as you can. Lenders understand that financial situations can change unexpectedly, and this could affect how and when you make your repayments. Your lender will want to work with you to find a solution.
Get free financial advice in the UK
The following charities and organisations offer free, confidential financial advice:
*Little Loans uses soft search technology. A soft search will not affect your credit score or leave a visible mark on your credit file. If you’re matched with a loan through a search with Little Loans and you choose to make a full application directly with the lender, that company will carry out a creditworthiness assessment, which will include a hard search or an Open Banking check. Please note that a hard search will be visible on your credit file for up to 12 months, and multiple hard searches in a short period of time could have a negative impact on your credit score.
**Payout timescales vary between lenders. The time it takes for the money to appear in your account will depend on your bank’s policies and procedures.
Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender