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What are on benefits loans?

On benefits loans are the short-term personal loans offered to those who are living on unemployed or disability benefits. These benefits are the regular payments that you receive from the government into your bank account.

Getting the loans on benefits from the bank or building society can be tricky as you are showing benefits as the income, but not the regular income. They may think of your loan application as relatively risky with no particular assurance of loan repayments.

People living on benefits do have many options to get loans. One thing that is important here is that unemployed people will have different loan features compared to those receiving disability living allowance. Unemployed people may have small loans to obtain. Individuals with disabilities receive permanent benefits, and they can qualify for long-term funding.

You must be sure about your eligibility for the loans. Any conventional or private lender would like to have borrowers who can show their repayment capacities.

However, approaching direct lenders in the UK may bring the solution for you. They are flexible in their approach where loans can be inexpensive and according to your prevailing situation.

Figuralloans promises the reliable lending platform where you can get loans on benefits based on your affordability. Unlike other lenders, we bring loans without impacting applicants’ poor credit histories or the lack of regular income.

What are the Advantages of on Benefits loans?

We are the specialist lender offering loans for people on benefits on competitive interest rates and flexible terms. We are the right lender suited the best to your financial situation and requirements. You have the assurance of a simple and quick application procedure, which allows transferring funds on the same day.

If you are looking to obtain money based on your benefits, we may help you in a quick time. You will have many loan advantages, which can be as following:

  • Use Benefits for Loan Repayment:

    You have the liberty to use the amount from your welfare benefits to repay the loans on time.

  • Easy Monthly Instalments:

    You get the lump sum loan amount from us and repay it on manageable monthly instalments.

  • Easy-to-Apply:

    Loans are available online with minimum paperwork. You have to fill only a single-page form with personal details and leave the rest on us.

  • Lack of stable income doesn’t matter:

    Your benefits will work as income proof when you are not getting full-time income. You only need to show your repayment capacity from the benefits, and we are ready to give you almost guaranteed approval.

  • Better deals than traditional lenders:

    Loans on benefits are useful in tackling any personal expense. You can use the funds for car repair, home improvement, unexpected bills, medical costs and many more.

How Can I apply for On Benefits loans with bad credit?

Are you living on benefits but need a loan today from a direct lender despite bad credit? When your credit history does not sound good, you need specialist help to get the funds on time.

You have to be more sure about the loan repayments from those benefits, as missing the repayments again can cause badly to your credit record. Therefore, you need a deal where the lending terms are flexible.

Figuralloans is already prepared to offer you flexible loans where the acceptance is there on loans for people with benefits with low credit profiles. We believe that they might have made mistakes in keeping up their payments right. Now, they should have another chance of borrowing funds, as they are already unemployed or having physical disabilities.

Many people are living on benefits but want bad credit loans to manage their finances. We come in front to help them and bring the following features:-

  • Easy lending with no credit check

    We do not check your credit scores because you are not using your savings for the loan repayment. You are ensuring repayments through the benefits.

  • Helping in credit score improvement

    Our flexible repayment terms are easy to follow throughout the loan term. If you repay the entire loan on time, you will improve your credit score.

  • Acceptance may be on very bad credit score

    In rare circumstances, we can accept applications with very bad credit scores too. However, applicants should not have bankruptcy charges. CCJ can be accepted.

Can I apply for loans for people on benefits with no guarantor?

The lender tends to require the signature of the guarantor to grant loans for people on benefits. However, it may depend upon the type of benefits that you are receiving and the borrowed amount.

Providing the guarantor can bring a lot of advantages. You will have access to larger funding and lower interest rates. Lenders are also on the safer side as they are on the safer side. They know if the primary borrower defaults, the guarantor is there to make the repayments.

Therefore, finding loans on benefits with no guarantor can be challenging. At the same time, finding out the guarantor is itself a tricky practice. Lenders always want a guarantor to be a homeowner and have good credit.

As the responsible direct lender in the UK, we take a different route to help borrowers with benefits. We are accepting applications for no guarantor loans. These loan deals will bring the following advantages to your favour:-

  • You save your time and money;

  • You do not have to make known your situation to everyone;

  • You have every chance of fast approval;

  • Opportunity to make loan repayments alone and improve your credit score;

  • No other person is involved in sharing the loan benefits

Can I Use loans on benefits for debt consolidation?

On benefits loans can be used for multiple purposes. One of them is debt consolidation. Yes, you can merge your multiple debts into a single loan option and pay only one interest rate.

Many people hesitate to take out another loan when they already have an outstanding debt. They think it may cause further damage to your finances, and their credit scores may get affected. We also advise you not to borrow funds more than your affordability and save your credit score more.

Nevertheless, we will encourage you to borrow our loans on benefits. These loans carry flexible terms and policies where you can merge all your pending dues in one go. Our interest rates are competitive and manageable within your recent financial capacity.

However, you need to know the conditions that apply if you want to use these loans to consolidate your debts. These include:-

  • Covering larger debts may not be applicable as these loans are short-term finance;

  • Merging business debts can be a possibility, but these should not be hefty ones;

  • You can borrow the loan for the maximum term of 36 months, which is enough to make hassle-free loans

What is the procedure to get Loans on Benefits?

Some lenders have the set procedure irrespective of the loan and the demand of the borrowers. Getting emergency money may not be possible with them, as their procedure includes lots of paperwork too. Figuralloans is relatively quick to its approach, and our loans on benefits are faster in bringing financial outcomes for you.

Unlike the procedure of mainstream lenders, where approval comes in days or weeks, we approve the loan applications on the same day. In fact, we release the funds on the same day of the application submitted. It is possible due to the digital lending platform, which we pursue.

You only have to send us the scan copy of the documents related to the receiving benefits. We do not need any other documents. The procedure includes the following steps:-

  • Fill out an online application form with personal details only (we do not reveal your details to any third-party)

  • Submit the form and wait for our approval (our team quickly review your details and approve the loan application within a few minutes)

  • Get desired funds on the same day (we will transfer the funds to your active bank account within 24 hours)

Now, you have the funds to use for your financial purpose. We suggest you follow the proper procedure of the loan repayments. You can choose our monthly repayment schedule, but we also provide pay weekly loans on benefits.

Why choose Figuralloans for on benefits loans?

At Figuralloans, we are well-prepared to accept applications for short-term loans such as on benefits loans. The process is simple and straightforward and framed to make financing a lot convenient for you. Whether you have bad credit or debts to consolidate, we may help you anytime and anywhere. You can approach us 24/7 online and get smooth approval without any obstacles.

Why Choose only Figuralloans?

Our Features

How much you can borrow

Borrow from £1000 to £10000

What is the maximum loan term?

You can get loan up to 36 months

What is the interest rate?

It depends upon your affordability

Are the repayments flexible?

Yes, you can make fortnightly, weekly and monthly repayments

Are there any hidden charges

No extra fee is charged

For quick loan approval and fund disbursal, apply now for on benefits loans.


Can you get a loan while on benefits?

Yes, you can get a loan when you are on benefits. However, it does not mean that you do not need to have an income source to prove your repaying capacity. Since you are unemployed, the benefits can serve as a purpose of income. Your chances of securing a loan increases when you have an additional income source like a part-time job or a rental income.

How can I get money urgently?

If you need money urgently, you can get it instantly. You do not need to go anywhere. All you need to do is to fill out the application form online and then submit it. The lender will quickly assess your application, and if they do not doubt your repaying capacity, they will approve your application. You will have to agree to terms and conditions, and then within ten minutes, you will get money in your account.

Can I get a payday loan while on benefits?

Yes, you can get a payday loan while on benefits. Payday loans usually require you to have a specific income source so you can pay off the money on your next payday. Since you are on benefits, you cannot technically say that you can apply for a payday loan, but because you are to pay off the debt within 14 days in a lump sum, you can treat them as a payday loan.

How long does it take to get a loan on benefits?

If you are looking to apply for a loan on benefits, it does not take too much time to get the approval and get money transferred to your account. As you fill in the application form online, the lender will quickly assess your application and approve the loan. This all will take a couple of minutes. In brief, you can say that you will get a loan on benefits the same day you put in the application.

What are the purposes of loans for people on benefits?

You can apply for loans for people on benefits for various purposes, but all of them can fund your small needs. These purposes include but are not limited to:

  • Car repair
  • Laptop repair
  • Travel expenses for job search
  • Medical bills
  • Or any other kinds of emergency

What is the easiest loan to get approved for?

Yet, among all small loans the easiest loan you can avail of is a loan on benefits. It is because most of other loans can only be applied through full-time income. On the other hand, loans for people on benefits can be approached on other sources of income if you do not have a full-time employment. These income sources can be as such:

  • Unemployment benefits
  • Spouse income
  • Disability benefits
  • Job allowance
  • Rental income

With acceptance on multiple income sources, you can have an easy approval during an urgent need of funds.