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:
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:
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.
Understand the types of personal loans
Looking for more information on personal loans?
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