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£500 Loans For Bad Credit

A £500 loan from Dot Dot Loans is all about simplicity. It's easy to apply online, and you could get an initial decision and approval in minutes, subject to affordability.

Our loan calculator will show you your options for different loan amounts and repayment periods as well as the total cost of the loan. You have the option of paying a £500 loan back over 3, 6 or 9 months. There are no hidden charges or fees, so you can see everything upfront before you apply.

We look at more than just your credit history too - so you could still get a quick £500 loan with bad credit and no guarantor.

Borrow £500 from Dot Dot Loans

A £500 loan could be useful in those emergency situations that disrupt everyday life, like a broken boiler or washing machine. We could help you get back on track.

Use our loan calculator to work out how much you will need to pay back each month and the interest rate for the amount you want to borrow.

Short term loan

Representative Example

Borrow £250 over 6 months with monthly repayment of £81.41. Total amount payable £488.46. Interest rate 248.19% p.a. (fixed). 824.7% APR Representative.

Am I eligible for a £500 loan?

We’ve set out our criteria below so you can easily see if you're eligible. You can apply for a £500 loan if

  • You're aged 18 or over
  • You live in the UK and can give us an address
  • You can provide us with a phone number and email address
  • You can give us your bank and debit card details

As a responsible lender, we'll also look at your credit history and finances before making our decision. We can act as a £500 loan for bad credit direct lender in some cases, subject to affordability.

How do our £500 loans work?

Like all our loans, our £500 loan is simple and straightforward, subject to affordability.

You can apply for a £500 loan online in minutes, and if we approve your application, we’ll deposit the money into your nominated bank account the same day.

We'll agree the repayment amount and payment date upfront so you know what to expect. We then take repayments monthly on the agreed date from your bank account.

When you apply you will need a valid email address, mobile number, home address information for the past 3 years and your bank account and debit card information.

If you need any help when applying, a member of the team will be more than happy to give you a hand via email or over the phone.

Credit checks for a £500 loan

At Dot Dot Loans, we take our responsibilities as a lender very seriously. We make sure to be clear and open at all times and only provide credit to customers who can afford it.

To help us do this, we carry out credit and affordability checks on all our applicants. We can still act as a £500 loan for bad credit direct lender in some cases, subject to affordability.

Getting a £500 loan with bad credit and no credit check is not possible - but our initial credit check will be a 'soft' one, which means it won't leave a mark on your credit file. So, if your application isn't successful it won't be visible to lenders.

We will only carry out a 'hard' search if we initially approve you for a loan and you accept our loan offer. This kind of search will be visible to other lenders on your credit file.

Transparency is a very important part of responsible lending. We always make it clear what our loans will cost, and what your repayments will be. When you choose the £500 loan option, you'll see all the information clearly displayed.

All charges and interest are clear upfront, and your loan will never cost more than this. We also don't charge late payment fees.

Take a look at our loan calculator to find out more about our loans.

What is the best £500 loan for me?

If you’re looking for the best UK loan option for you, below we have a breakdown of monthly payment options depending on your repayment period.

We do consider applications with a less-than-perfect credit score. If you are hoping to borrow £500 with bad credit, we could help, subject to affordability.

If you can see an option below that looks good for you, great! You can apply using the button below. Got any more questions? Feel free to contact us.

Compare your £500 loan options

Paying back over 3 months 6 months 9 months
APR 1189.2% 1147.9% 481.4%
Credit charge £250.78 £479.20 £470.47
Monthly repayments £250.26 £163.20 £107.83
Total to pay £750.78 £979.20 £970.47
Paying back over APR Credit charge Monthly repayments Total to pay
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500 pound loan FAQs

Question Answer

What repayment periods are available with a £500 loan?

You can borrow £500 over 3, 6 or 9 months. Our short-term loan calculator allows you to compare different loan terms to find the repayment period you’re most comfortable with.

Can I get a £500 personal loan with bad credit?

You don't need a perfect credit history to be approved for a £500 loan. As part of our decision process, we carry out credit and affordability checks to make sure a loan is manageable for you. An imperfect credit score won’t automatically rule you out, though, so you could still borrow 500 pounds with bad credit.

Find out about our loans for bad credit.

I am an existing customer. How do I apply for another loan?

As an existing customer with an active loan, you may be eligible to take out a new loan with us once you’ve repaid your existing one. This is not a guarantee, however, and how much you may be able to borrow as an existing customer depends on your circumstances.

If you’ve settled your existing loan, you can apply via the Dot Dot online portal. Simply log in and select the 'New Loan' tab, then click apply now to start your application. Some of your details will be pre-populated, so please check they’re correct before continuing with your application.

Always consider the cost of further borrowing, whether it is affordable (particularly if your circumstances change), and whether you will be able to maintain other debt repayments.

Can I apply for a loan while on benefits?

Yes. For our short-term loan products, we accept applicants who use benefits as their primary source of income, subject to affordability checks. You can read more about applying for a loan on benefits on our blog.

Do I need a guarantor?

You don’t. We could offer you a 500 pound loan with bad credit and no guarantor if we judge that you can afford the repayments.

Borrow £500 from Dot Dot Loans

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Approved loans are funded every hour 24/7 No hidden fees or costs Less than perfect credit accepted UK based Customer Service Team

Loans from £100 to £1000

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Representative 824.7% APR

Loans from £1500 to £5000

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Representative 79.4% APR

Short-term loans: 824.7% APR Representative Long-term loans: 79.4% APR Representative