Is Loans By MAL Legit?

Is Loans By MAL Legit? Find Out Now

If you’re in need of instant personal loans without collateral, then MAL lending institution is an option to consider.

Monthly Advance Loans(MAL) Limited is a United Kingdom based Consumer Credit Lender platform that offers collateral-free personal loans to individuals who need instant loans in the form of monthly advance. 

The Monthly Advance Loan application process is pretty simple and their eligibility criteria are minimal.

In this post, we’re going to explore the legitimate nature of the MAL lending platform and other related aspects of this article. Stay tuned!

Is Loans By MAL Legit?

Is Loans By MAL Legit?

Monthly Advance Loan Limited appears to be a legitimate lending institution. 

MAL is a Consumer Credit Lender whose operation is authorized and regulated by the Financial Conduct Authority with a firm reference code of 912359.

Also, the Office of the Information Commissioner in the UK is fully aware of the operation of the MAL institution because it is registered with the office with the registration number  ZA553679.

In pursuance of their legitimate nature, MAL as a private limited company is fully registered in England and Wales with the registration number(company number 12070468).

From the above regulation and authorization, it is safe to say that Monthly Advance Loans Limited(MAL) is a legitimate lending institution. 

However, since financial institutions are liable to change overtime, it is best for the intended borrower to conduct independent due diligence about the loaning services of MAL before opting their financial  services.

Loans By MAL Requirements

To qualify for loan at MAL lending institution, applicants are required to meet certain eligibility criteria, they include:

  • The applicant must be at least 18 years old.
  • You must be resident in the United Kingdom.
  • Applicants must have a steady and stable income source.
  • Good credit history is also a necessity.
  • Occasionally, guarantors may be needed.

MAL Loanable Amount

The loan amount the borrowers can take from MAL lending institution is not fixed; it varies according to the borrower’s credit score. The better your credit score, the higher the loan amount you’ll be eligible to get and vice-versa.

However, the loanable amount that borrowers can take from MAL platform ranges from  £1000-£5000.

MAL Loan Term

MAL offers a flexible repayment plan that allows borrowers to pay off their loans without breaking the bank.

The MAL loan tenure ranges from 9 – 24 months which is really flexible. However, it is pertinent to note that the longer the loan term you chose, the higher the interest rate and vice-versa. Please be guided!

MAL Loan Interest Rate

The interest rate of MAL loan is not fixed; it varies depending on the loan amount the borrower chose and the repayment plan opted for.

However, the MAL loan interest rates range from 12.5% – 40.9%.

MAL Representative Example

Assuming you take a loan amount of £2200 over a 24 month repayment period. The interest rate will be 21.4% per annum (fixed) which is Annual Percentage Rate(APR) representative of 47%.

The total amount payable will be £3141.60 of which £941.60 is interest, with 24 monthly repayments of £130.90.

MAL Loan Application Process

The application process of the MAL loan is quite simple and seamless. The whole application process can be completed electronically which ensures hassle-free experience.

Once you meet MAL requirements, you can apply for the personal loan and the amazing thing is that their approval process is pretty fast and their loan disbursement is swift too.

MAL Customer Care

For inquiries, questions or assistance, you can reach out to MAL customer care unit via the following handles:

Call: 01202 122699


Office Address: Bourne House, 23 Hinton Road, BH1 2EF, Bournemouth, United Kingdom.

Loans By MAL How Long Does It Take?

Loans by MAL take less than 24 hours for your loan amount to be disbursed to your nominated bank account if your loan application is approved. 

Hence, if you apply for a loan at MAL and after 24 hours you didn’t receive your loan, then you can reach out to them via phone call or email address to ascertain your loan application status.

Loans By MAL Review

Our check on reviewing platforms like Truspilot reveals that MAL has an excellent rating by the reviewers.

Although users of the MAL lending platform express diverse views about their lending services. Some of the users expressed satisfaction with the excellent loaning services offered by MAL especially their swiftness in loan disbursement while others expressed concern with the outright decline of loan application MAL platform.

Our check on Trustpilot shows that Loans by MAL UK has 4.8 stars rating out of 5 from 617 reviews which is excellent for a platform of its kind. 

Some of the reviews are below:

According to Humphrey: ‘’Satisfying experience, from the point of making inquiry to approval of the loan, their employees has been so helpful and customer oriented. My loan was processed without delays and I’m glad I’ve been able to pay it off now with my investment in ~finances•fund~’’.

Another user, Miss Bradshaw has this to say: ‘’A great company, super service and the loan was paid out very fast. Thank you’’.

Mrs. Ajaysaran has this to say: ‘’Don’t apply for a loan. Stay away. Applied for a loan, Credit check approved, An agreement signed, Verified the bank account by logging into my bank account portal and later it was declined for no reasons. Please beware of a lender who ask you to verify your bank account online and Never verify bank accounts to third parties lender unless if it is safe to do for a reason. Always trust banks for any loans. Stay safe from companies like this’’.


Loans by MAL appears to be a legitimate UK lending institution because it is authorized and regulated by the Financial Conduct Authority(FCA).

From reviews, it has an excellent rating from reviewers on Trustpilot which is a clear indication that it is a legitimate lending platform.

Borrow responsibly and spend wisely!

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