Top tips

Loan instalment

Browse our top tips to learn more about best practices when applying for a personal loan.

Got a question? Head to our FAQs page for answers to the most common questions.

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Improve and understand your credit score

Credit scores are what lenders use to calculate how risky it is to lend to a borrower. Lenders use your credit score to decide whether or not to lend to you, how much, and at what rate of interest.

Lots of factors can affect your credit score. To give yourself the best chance at being accepted for a loan you should work to improve your credit score. Use our resources below to find out more.

Credit score top tips from loans by mal:

Understand APR

What is APR? APR stands for ‘Annual Percentage Rate’ and is used to indicate the total cost of your borrowing over the period of one year.

APR includes standard fees, such as administration charges as well as the interest rate.

When shopping for a personal loan, it’s important to understand what an APR is so you can compare loans and choose the best one for your needs. Use our resources below to find out more.

APR top tips from loans by mal:

APR Example


Borrowing amount: £1,800

Loan term: 12 months

An APR of 53.9% would include:

  • annual interest rate of 25.9% per annum (fixed)
  • plus standard fees for the loan

You would pay 12 monthly repayments of £188.85, totalling £2,266.20, of which £466.20 is interest.

Borrow from £1000 - £5000

Understand the types of personal loans

Secured, unsecured, guarantor, variable interest, fixed interest, debt consolidation, payday…If you’re thinking about a personal loan but haven’t applied before there can be lots of jargon to get your head around. Make sure you are clued up on the different types of personal loans before applying. Use our resources below to find out more. Personal loan top tips from loans by mal:

Looking for more information on personal loans?

Personal loans

We explain how personal loans work and what to look out for when applying

Credit score

Everything you need to know about credit scores including how to improve yours

Borrow from loans by mal

  • We make loan decisions on affordability and creditworthiness
  • Our personal loans have a maximum 18 month term
  • Before you sign the agreement you will always know what you will repay and the terms
  • Our personal loan calculator will provide you with an indication of monthly repayments

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