Unsecured Loans
Unsecured loans let you borrow money without putting your home or car at risk. At Monixa, we consider applications from people with bad credit as well. Apply for an unsecured personal loan from £200 to £1,500 and repay over 3 to 6 affordable monthly instalments. No hidden fees.
Representative APR 1230%
Loan calculator
Select your amount and term to see example repayments.
Representative Example: Given a Representative APR of 1230%, if you borrow £300 over 6 months at 292% p.a. (fixed), you would owe 6 equal repayments of £100. You will repay £600 in total.
Quick summary
- Borrow £200 to £1,500
- Repay over 3 to 6 months
- Soft search eligibility check
- No hidden fees or early repayment penalties
Representative APR 1230%
Applying won't affect your credit score (unless you actually take out a loan).
Why Choose Monixa for Your Unsecured Loan?
Direct Lender
Monixa is an FCA authorised lender, not a broker. You won't be passed to a third-party credit provider. We manage your loan application, approval, and repayments all in one place, keeping things simple for every customer.
Borrow £200 to £1500 with Instant Decisions
Need funds fast? You can borrow between £200 and £1500 with Monixa. Our online application takes minutes, and you get a decision in seconds. If approved, cash is sent to your bank within 90 seconds†.
Flexible Repayments Over 3 to 6 Months
Choose a loan term that fits your budget. With Monixa, you repay your loan over 3 to 6 months in fixed monthly instalments. This gives you time to manage your money comfortably without the pressure of a lump sum repayment.
No Hidden Fees or Early Repayment Penalties
What you see is what you pay. Monixa charges no hidden fees, no arrangement fees, and no early repayment fees. Want to pay off your loan early? You can, and you'll pay less interest as a result.
Representative APR 1230%
What Our Customers Say About Us?
Representative APR 1230%
What Is an Unsecured Loan?
An unsecured loan is a type of personal loan where you borrow a fixed amount of money without offering an asset like your home or car as security. The lender approves your loan based on your income, affordability, and credit history rather than the value of any property you own. Because no asset is tied to the loan agreement, your home is never at risk. This makes unsecured loans a popular choice for people who don't own property or who prefer not to put their belongings on the line.
You receive the funds as a lump sum, repay in monthly instalments over an agreed loan term, and know exactly what each monthly repayment will cost from day one. Compared to some other borrowing options, an unsecured personal loan offers a clear and predictable way to finance what you need.
How Do Unsecured Loans Work in the UK?
Unsecured loans in the UK follow a simple process. You apply to a lender for a specific loan amount. The lender checks your credit file, income, and affordability to decide whether to accept your application and what interest rate to offer you. Here's what happens once you're approved:
You receive your funds
The loan amount is sent directly to your bank account, often within hours or the same day.
You repay in fixed instalments
Each month, the same amount leaves your account, covering both the money you borrowed and the interest.
You know the full cost upfront
The cost of your loan is shown as a representative APR (annual percentage rate), which includes the interest rate and any standard fees.
Because monthly payments stay the same under your loan agreement, budgeting your finances becomes much easier. You can compare different loan offers by their APR to find the true total cost before you accept.
Representative APR 1230%
Unsecured Loans vs Secured Loans – What's the Difference?
The biggest difference between unsecured loans and secured loans is whether you need to put up an asset as security. A secured loan is backed by property, usually your home. An unsecured personal loan doesn't put any asset at risk, giving you peace of mind when you borrow. Here's how the two options compare:
| Feature | Unsecured Loans | Secured Loans |
|---|---|---|
| Security required | No, no asset needed | Yes, usually your home |
| Risk to property | None | Lender can repossess your property |
| Interest rates | Typically higher interest rates | Usually lower interest |
| Loan amounts | Smaller amounts | Larger amounts available |
| Loan terms | Shorter repayment terms | Longer terms offered |
| Approval speed | Usually faster | Slower. Requires a mortgage valuation |
| Best for | Smaller, short-term borrowing | Large purchases or homeowners |
If you don't own a home, or don't want to risk it if you fail to repay, an unsecured loan gives you a way to borrow without that worry. Compare both options carefully before you decide which suits your needs.
How To Check If You Are Eligible for an Unsecured Loan with Monixa?
To be eligible for an unsecured loan with Monixa, you need to meet a few basic requirements. We keep our criteria simple so more people can apply with confidence, even if your credit rating isn't perfect. Here's what we look for:
Be aged 18 or over
Be a UK resident with a valid UK bank account
Have a regular source of income from employment
Have an active mobile number and email address
We also look at your individual circumstances and other factors to make sure any loan we offer is truly affordable for you. Each application is assessed on its own merits based on your personal profile. Even if a bank or other lender has turned you down before, Monixa may still be able to help. The quickest way to check is to apply online, compare what's available and see for yourself.
Representative APR 1230%
How to Apply for an Unsecured Loan with Monixa?
The loan application process with Monixa is quick and entirely online. You can apply 24 hours a day, 7 days a week, from your phone, tablet, or computer. Here's how it works:
Submit your application
Fill in our online application form with your personal details, employment information, and how much you want to borrow. The application process usually takes just a few minutes.
Instant credit check
We run a soft credit search first, so there is no impact on your credit file. We review your financial circumstances to reach a lending decision. This happens in seconds.
Receive your loan offer
If your application is approved, you receive a full breakdown of your monthly repayments, repayment schedule, and the total cost of your short term loan.
Get your money
If you accept the offer, the funds will be sent to your bank within 90 seconds†. Same day transfers mean you can have the funds ready to use almost immediately.
That's it. Our application process is designed to be fast and fuss-free, so you can access the finance you need without delay. You don't need any paperwork to get started, just a few minutes and an internet connection.
Representative APR 1230%
Can I Get an Unsecured Loan with Bad Credit?
Yes. You can apply for an unsecured loan with Monixa even if you have bad credit. We understand that life doesn't always go to plan. Missed payments, defaults, or a low credit score don't automatically mean your application will be declined.
When you apply, we look beyond your credit history. We assess your current income, regular outgoings, and whether you can comfortably afford the repayments. Late or missed loan repayments can negatively impact your credit score, but having past credit issues doesn't shut the door.
Not all loan applications will be approved, as offers of credit are always subject to status and affordability checks. But we aim to help as many customers as possible get an unsecured loan that works for their situation.
Representative APR 1230%
How Much Can You Borrow with Monixa?
With a Monixa unsecured loan, you can borrow between £200 to £1500. The exact loan amount you're offered may vary depending on your income, expenses, and overall affordability. We always make sure you can comfortably repay the loan without putting yourself under financial pressure.
You choose the loan amount and loan term that works best for you. Shorter terms mean higher monthly payments, but you pay less interest overall and the total cost stays lower. Longer terms spread the cost with lower monthly repayments, though you'll pay more interest over time, so the overall cost goes up.
Minimum
£200
Repay over 3 to 6 months in equal monthly instalments. No early repayment fees.
Maximum
£1,500
Use our loan calculator to compare different amounts and terms before you apply. Monixa clearly displays the APR and total amount payable before you accept anything, so you always know what you're signing up for. It's the easiest way to find the best deal for your finances.
What Can You Use an Unsecured Loan For?
Debt Consolidation
If you're managing multiple debts, such as credit cards or an existing loan, a debt consolidation loan lets you combine them into one monthly repayment. This can make your finances easier to manage and could reduce the total amount of interest you pay each month.
Home Improvements
Planning a home improvement project? Whether it's a new kitchen, bathroom update, or essential repairs, an unsecured loan can help you finance the cost of home improvements without dipping into your savings or relying on high-interest credit cards.
Unexpected Costs
Life can be unpredictable. A broken boiler, car repairs, or an emergency bill can arrive when you least expect it. A quick loan from Monixa gives you fast access to funds so you can pay for urgent costs and get things sorted without the stress of waiting.
Representative APR 1230%
Frequently Asked Questions About Unsecured Loans
Will Applying for a Loan With Monixa Affect My Credit Score?
No. Merely applying for a loan with us will not affect your credit score. We use a soft credit check at the application stage, which other lenders cannot see. Your credit score is only affected if you accept a loan offer and proceed with borrowing. So apply with confidence.
How Many Months Do I Have to Repay My Loan?
You can choose to repay your loan over 3 to 6 months. The loan term you pick affects your monthly repayment. Shorter terms mean higher monthly payments but less interest paid overall. Longer terms lower each payment but increase the total cost.
Do I Need a Guarantor for a Loan with Monixa?
No. You do not need a guarantor to get an unsecured loan with Monixa. Your application is based entirely on your own income and affordability. We keep things simple. No guarantors, no complicated paperwork. Just a quick online form and you could be approved in seconds.
Is it Hard to Get an Unsecured Loan?
It doesn't have to be. Monixa accepts applications from people with all types of credit backgrounds, including bad credit. Whether you're approved depends on your income, affordability, and individual circumstances. Not every application is approved, but we help as many eligible customers as possible.
Can I Repay My Loan Early?
Yes, you can repay your loan early with Monixa. We do not charge any early repayment fees or penalties. You can make extra payments or pay off your balance ahead of schedule at any time. Paying your loan early means you pay less interest and could save you money.