Short term loans - mal - loans by mal for Isle of Man residents

Short term loans

With loans by mal, you can choose to make your repayments over a period of 6, 9 or 12 months to suit your circumstances.

Example

Taking a loan of £5,000 on an instalment repayment plan to be repaid over a 12 month period.

The borrower receives funds into their account and starts their repayments approximately 1 month after receipt of funds and continues to make a monthly payment for the ensuing 11 months.

How much can I borrow?

You can borrow up to 1 month’s income subject to a minimum of £1,000 and a maximum of £5,000.

Apply Today

Its as easy as 1-2-3 to get your loan

Use the calculator on this website to find out what you can borrow and how much it will cost you over the term you want. If you want to proceed then apply by clicking the start your application button below. You will need to tell us how much you would like to borrow and over how many months. You’ll need to confirm your employment status and provide proof of your monthly income, along with a few other details.

Start your application

Using the details you have supplied, we will run checks to see if you are eligible for a mal loan. If you are, you’ll receive a confirmation email and a loan agreement to sign. If you have any questions you can check our FAQs or contact a member of the MAL team by emailing : enquiries@loansbymal.im

Start your application

On the home straight now. You will need to electronically sign the Loan Agreement and send it back to us. Once we receive it, then we make the necessary arrangements to release funds to your bank account.

Start your application

Let's talk numbers

Important Note: For debt counselling advice click here or e-mail debt@gov.im and for fair trading advice click here or e-mail debt.fairtrading@gov.im

How much would you like to borrow? £

Maximum borrowing amount = one month of your current income

For how many months?

Your monthly repayments:

Administration Fee:

Interest to pay:

TOTAL to pay:

Representative APR

Representative Example

On an assumed loan of £5,000 over a 12 month repayment period. The total amount payable is £5,665 of which £515 is interest at 10%* and £150 administration fee. Representative 26.44% APR. In this example the administration fee has been added to the loan.

*The calculator is for illustrative purposes only. The rate is subject to change and the representative APR may not be the rate you will receive. We will offer you a rate based on our assessment of your personal financial circumstances including your credit score. The maximum APR you could be offered is 98.83%. The APR may vary based on amount borrowed.

Borrow from loans by mal

We lend to Isle of Man residents, who are in full time employment or self employment and have a regular income

We make loan decisions on affordability and creditworthiness

Our loans have a maximum 12 month term

Before you sign the agreement you will always know what you will repay and the terms

Our loan calculator will provide you with an indication of monthly repayments

Loan FAQs

For our full list of FAQs, please click here

An unsecured loan is not secured on any asset. It does not require a guarantor to guarantee that you will make repayments. Your loan will be confidential in so far that you don’t have to discuss it with anyone, other than us to make an application to borrow from mal.

You can borrow up to 1 month’s income subject to a minimum of £1,000 and a maximum of £5,000.

No. Your repayments are fixed throughout the term of the loan. This gives you the security of knowing at the outset what you are paying each month. You have up to 12 months to repay the loan

We hope so. mal has been developed specifically to assist Isle of Man residents who want a personal loan over a short period of time. Something to help tide them over or fund an unplanned expense. When you complete our simple online application form we’ll check your details and make a quick decision on if we can offer you a loan. If we can give you the loan you will know what your monthly repayments are and the term you are to repay the loan over. All loans will take into consideration your creditworthiness and affordability to repay.

QUICK & EASY APPLICATION PROCESS

WITH FAST IN-PRINCIPLE DECISION 

© Monthly Advance Loans Limited.
loans by mal
is the trading name of Monthly Advance Loans Limited. Company Registered in the Isle of Man. Company Number 133047C. Registered Office: 16-18 Finch Road, Douglas, Isle of Man IM1 2PT. Data Protection Act R002085. Registered with the Isle of Man Financial Services Authority and the Isle of Man Office of Fair Trading under the Moneylenders Act 1991. Monthly Advance Loans Limited is a consumer credit lender not a broker.

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