Get your free, no-obligation £500 loan quote with CashLady today
Can I get a loan for £500?
You can search for a £500 loan with CashLady if you:
- Are over the age of 18;
- Are a UK resident;
- Have a UK bank account and a valid debit card; and
- Have a regular source of income paid into your bank account.
CashLady Representative 79.5% APR
Searching for a £500 loan with CashLady will not harm your credit score
CashLady uses soft search technology, which will not affect your credit score in any way.* A soft search will not be visible on your credit report to other lenders.
What repayment terms are available for a £500 loan?
You’ll repay your short-term loan in monthly instalments, and with CashLady, you can search for a £500 loan with a repayment term of either 3, 6, or 12 months.
Before you search for a £500 loan, you should think carefully about what sort of repayment term works best for your situation.
Shorter v longer repayment terms for a £500 loan
| Shorter repayment term (e.g. 3 months) | Longer repayment term (e.g. 12 months) |
|---|---|
| Less time to repay the money you owe. | More time to repay the money you owe. |
| You’ll pay less interest overall. | You’ll pay more interest overall. |
| Your monthly repayments will be higher. | Your monthly repayments will be lower. |
£500 loan for bad credit
If you have a history of bad credit, you could find that your borrowing options are limited; however, there could still be options available to you.
CashLady works with several lenders who specialise in loans for people with bad credit, and they could consider your application for a £500 loan.
Before you apply for a bad credit £500 loan, please be aware that, if approved, you could be offered a higher rate of interest. This will affect the overall cost of the loan as well as your monthly repayments. You should take the time to carefully work out whether a bad credit £500 loan is an affordable choice for you.
How much interest will be added to my £500 loan?
You’ll be charged interest on your £500 loan, which will be included in your monthly repayments.
The interest rate you’re offered will be based on several factors, including your credit history.
How quickly could I get a £500 loan?
If your application for a £500 loan is accepted, your money could be sent the same day. The time it takes for the money to show as available in your account will depend on your bank’s policies and procedures.
It’s important to bear in mind that each lender will have their payout timescales.
Can I apply to borrow more than £500?
You can, but you should only ever apply to borrow the amount of money that you need and can afford to repay.
If you think you might need more than £500, CashLady could help you search for a loan up to £10,000.
Need less than £500? No problem; the lenders on our panel offer loans from £100.
Direct lender £500 loans
CashLady is a credit broker, not a direct lender.
Many borrowers choose to use a credit broker rather than apply directly to a lender.
- When you need a £500 loan to cover the cost of a financial emergency, you’ll want an efficient and seamless process. Rather than having to research multiple direct lenders to find one that could be a good fit, a credit broker can do the work for you. In just 60 seconds, CashLady can scan a panel of over 30 lenders at the same time.
- A direct lender can only check your eligibility for their product(s), while a credit broker can scan a large panel of lenders offering loans and loan alternatives.
- When you apply for a £500 loan with a direct lender, they will carry out a creditworthiness assessment. This will include a hard search or Open Banking. Making multiple applications with different direct lenders could result in many searches, and this will damage your credit score. CashLady uses soft search technology, which will not affect your credit score.*
What to do if you can’t repay your £500 loan
Sometimes, our financial situation can change without warning. This can be daunting at the best of times, let alone when you’re in the middle of repaying a loan.
If you’re experiencing difficulties with money, please reach out to your lender. We understand that talking about money worries can feel uncomfortable, but your lender will be used to dealing with similar situations and will work with you to put a plan in place to help you.
Money problems? Debt concerns? You’re not alone.
Very few of us feel confident in discussing our financial situation, particularly when things aren’t quite right.
Money worries should not be taboo. Please know that a wide range of help and support is available to anyone who is currently struggling with their finances. Whether it’s cost-of-living expenses or rising debt, free, confidential advice is available through the following charities and organisations: StepChange, MoneyHelper, Citizens Advice, and National Debtline.
*If you’re matched with a loan through a search with CashLady, you’ll be redirected to the lender’s website, where you can decide whether you’d like to make a full application. If you choose to go ahead, the lender will complete a creditworthiness assessment, which will include a hard search or Open Banking. Please note that a hard search will remain on your credit file for up to 12 months. Multiple hard searches in a short space of time will damage your credit score.
CashLady Representative 79.5% APR