Loans for People on Benefits

Loans Available From £100 to £5000

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Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed).Representative 669.35% APR (variable).

Loans for People That Receive Benefits – Apply Today for an Instant Decision

Ready to find your loan? How much would you like to borrow?

We offer a range of loans from as little as £100 to up to £5000, and you can borrow what you need over just 1 to 3 months or, if you need longer to pay it back, we can offer a 36-month repayment term.

• Get an instant decision with no cost to apply and only a soft credit search that doesn’t impact your credit rating.

• You could get a small loan in your bank today! (Subject to status)

• We’re an experienced business with, on average, over 4000 no-obligation loan quotes handled each day.

Warning: You shouldn’t use payday loans as long-term solutions to any financial problems. If you are late with your repayments, you should be aware that this can cause you serious money problems. If you need help or debt advice, you can visit, or

Loan applications while on benefits

We understand that sometimes you need a little help for unexpected occurrences, perhaps for a new boiler or washing machine, and even on benefits, you may still be able to get a bad credit loan to cover what you need. The important thing is that you can afford to repay your loan.

There are many different kinds of benefits and different reasons for receiving them, and you may find that you can apply and be accepted for a loan.

Our lenders look at different criteria when assessing if someone will be offered a loan, and your circumstances are unique to you, so it’s worth a check to see if you are eligible.

When you apply, we’ll do a soft credit search that won’t harm your credit file, and you could find yourself with money in the bank the same day!

With Cobra Payday Loans, we’ll do our best to help you, and you can apply for any amount between £100 and £5000. You can choose to pay it off quickly, over 1 to 3 months, or opt for a longer repayment term of up to 36 months.

Will my loan be approved?

The only way to know for sure is by applying. It’s free, and it takes just seconds to find out if one of our lenders will approve your loan. And our application process uses a soft check that doesn’t damage your credit rating. A hard credit check will only be done if you decide to go ahead with one of our lenders.

How it works

It’s easy to apply. There’s very little difference in the application between someone on benefits or someone with a regular income from employment. We like to make things straightforward for our customers, and we know you need your money quickly, so we have made the application as quick and easy as possible.

Ready to Apply?

All you need to do is fill out a short and simple form with your details, and then we’ll search our database of lenders to see what your loan options are.

If you’ve been accepted, you’ll be redirected directly to the direct lender that is willing to lend to you. Simply complete your loan application on their site, and you’ll have the funds in no time!

Frequently Asked Questions

Still, got questions? Our friendly team is here to help. See below for our most frequently asked questions. And, if you still need some help, please do feel free to get in touch.

Is it possible for me to get a payday loan even though I’m on benefits?

It can be. People on benefits do get loans accepted. But it’s not a straightforward case of ‘yes’ or ‘no’. With every loan in every kind of circumstances, it depends on your credit score, income, and the ability to afford your loan repayments. The other consideration is that some lenders take only certain benefits into account when looking at a potential loan, while others will accept most of them.

The answer really is as individual as you are, so the best thing to do is give our simple eligibility checker a try and see what happens. It’s free to use, there’s no fee to pay, it doesn’t affect your credit rating, and it takes less time than boiling the kettle.

Will I need to have a guarantor to get my loan?

That varies from lender to lender, so it’s impossible to say. If you go through our eligibility checker and see if you’ve been approved for a loan, your lender will tell you if you need a guarantor.
What is a guarantor? They’ll agree to pay the loan on your behalf if you have a problem, so they’ll usually be a really good friend or a family member.

What benefits will be accepted by my lender if I apply for a loan?

This also varies from lender to lender, so it really is a case of trying to apply and seeing what results you get. There’s no cost and no effect on your credit rating, so it is worth the short time it takes to fill it in.

What if I’ve never had credit before, and I’m on benefits? Can I still apply?

Without having credit previously, you may find it harder to get a loan. However, that doesn’t mean it’s not possible. Our experienced lenders will still look at your application and consider you.

And if you begin with a small payday loan and pay it off on time, you will have made a start on your credit history for lenders to look at in the future. You could then build your credit rating with a small loan and prove that you can afford your credit and make timely payments. A payday loan could be just the thing to get you started.

What if I’m already retired and only have my pension? Can I still get a loan?

Retirees are still able to apply for and get loans. The main criteria, as usual, is that you have a regular income coming in that’s enough for you to afford to repay your loan. Lenders all have different criteria and may or may not lend to retired people, but we have a range of experienced lenders who will consider you via our eligibility checker.

Simply fill in your details, and we’ll do the rest. You’ll get a quick decision on if you’re accepted, and, if you are, it’s just a case of checking the terms of your loan and agreeing to it with your lender.

Ready to Get Your Loan?

• Apply quickly and easily with only a soft credit check that doesn’t affect your credit score.

• Apply now, and you could get your money in your bank account today!

• With experienced lenders and a record of processing thousands of applications a day, you’re in safe hands.

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Warning: Late repayment can cause you serious money problems. For help, go to