Unlock your true credit potential
Wherever you are on your financial journey, Loal helps you build your money future.
Be rewarded for improving your finances
Most credit providers keep their customers paying the top rates of interest. Loal rewards your positive financial behaviour by reducing interest rates for good borrowers, helping you level up your finances and reach your money goals.
Graduate to better credit that puts you in control
Loal shifts the power from banks and 'black box' lenders to you! We don’t rely only on credit bureau data – this information can be outdated and incorrect. Instead, we empower customers to take an active role in building a more accurate view of their creditworthiness. By repaying your loan on time and tracking your financial behaviour in the Loal app, you can graduate to larger loans at lower prices for longer terms.
Credit solutions for all of life’s needs, big and small
The Loal Starter
The Loal Starter is key to understanding your ability to borrow and pay back. It gets you on the road to building your credit profile and unlocks much cheaper credit in the future. Borrow between £100 and £800 for six months, pay back on time and Loal can offer you much lower rates, longer terms and larger amounts on future loans.
The Loan with a Goal
Once you've paid back your Loal Starter, you'll be eligible for your first Loal - a loan with a goal. You'll unlock up to £1,750 and your rate can drop by two thirds (up to 64%), depending on the repayment behaviour from your Loal Starter. You'll also have earned the right to a longer term of up to 12 months, meaning you can spread the cost of repayment over a year.
Watch your rate plummet
If you continue to repay your Loal on time, the rate on your second Loal can drop by another 27%, further reducing your monthly repayments and moving you closer to the rates of high-street banks. What's more, Loal feeds back repayment behaviour to Credit Reference Agencies, which can have a positive impact on your credit score
Graduate to Loal Plus
Because of your proven track record and the fact you've been building your credit profile, you can graduate to a flexible, long-term and truly personal loan. The Loal Plus lets you leave High Cost Short Term credit behind. Borrow up to £5,000 for up to three years with a rate reduction of up to 70% compared to your Loal.
Upgrade to a cheaper loan!
If you pay on time every time, you’ll be rewarded with the option to upgrade your loan for a new one with a lower interest rate. This means you don’t need to wait until the end of your current loan to access the cheapest price possible. If you’re a perfect payer, meeting your commitments on time, you can upgrade in in as little as 6 weeks.
Staying on track
When you borrow with Loal, your rate will improve, but only if you consistently repay on time. Compared to your Loal Starter, a Loal Plus loan can be up to 86% cheaper. Missing payments or getting new loans from lenders can damage your affordability status and reduce the chances of Loal being able to lend to you in the future at the lowest rates. Terms and conditions apply. You will be shown varying offers and options when you apply on the Loal app.