Can I get an instant loan with bad credit?

You can check your eligibility even if your credit history is less than perfect. Approval is not guaranteed, and 118 118 Money will still carry out credit and affordability checks before lending.

Can I check my eligibility without affecting my credit score?

Yes. 118 118 Money offers an eligibility check that lets you see whether you are likely to be accepted without affecting your credit score.

How much can I borrow?

If accepted, you can borrow £1,000 to £8,000 and repay over 12 to 60 months, depending on your individual circumstances.

Do I need a guarantor?

No. You apply in your own name and the application is assessed on your own circumstances.

How quickly could funds arrive?

Once approved and set up, funds could be received in as little as 15 minutes, although it can vary from 15 minutes to 2 hours depending on your bank.

Instant Loans for Bad Credit | Check Eligibility

Instant Loans for Bad Credit

Borrow £1,000 to £8,000

Repay over 12 to 60 months

Check eligibility with no impact on your credit score

Representative example: Amount of credit £2,000 for 24 months. Interest rate: 41.2% pa (fixed). 24 scheduled monthly payments of £123.64. Total amount payable: £2,967.43. Representative 49.9% APR.

Need money quickly but worried about bad credit?

When you need to move quickly, it is easy to focus on speed and forget the cost. 118 118 Money offers personal loans that may be considered even if your credit history is less than perfect, but borrowing still needs to be affordable.

You can check your eligibility before you apply. That means you can see whether you are likely to be accepted without leaving a mark on your credit score.

What instant really means

People often use “instant loans” to mean a fast online application and a quick decision. It does not mean guaranteed approval. A lender still needs to complete credit and affordability checks before deciding whether a loan is right for you.

If accepted and fully set up, funds could be received in as little as 15 minutes, although this can vary from 15 minutes to 2 hours depending on your bank.

A safer first step before applying

A full loan application leaves a mark on your credit file. If you have bad credit, making several rushed applications can make things harder, not easier.

Our eligibility check helps you take the sensible first step: check the chance of acceptance, understand the offer, then decide whether applying is right for you.

What lenders may look at

When you apply for an instant loan with bad credit, lenders typically look beyond a single credit score. They may review your credit profile, income, regular outgoings, existing commitments, and whether the repayments look manageable.

That is why an eligibility check can be a sensible first step. It helps you understand whether you are likely to be accepted before moving to a full application.

Why consider 118 118 Money

118 118 Money offers loans from £1,000 to £8,000 with repayment terms from 12 to 60 months, depending on your individual circumstances. If you are accepted, you can complete the process online and funds could be received in as little as 15 minutes, although timings can vary by bank.

As with any borrowing, only take out credit if it is affordable and right for your situation. If you are already struggling with bills or debt, free debt advice may be a better first step than more borrowing.