What is an easy loan?
If you’re looking to apply for a loan online, we make comparing your options easy.
We make it effortless for you to compare all your options in one place. You’ll only need to make one application using our eligibility checker, which enables us to match you with the lenders you will most likely be approved by.
The online lenders we work with have simple application processes, with automated checks behind the scenes, making it straightforward for you to apply for a loan without digging out lots of paperwork.
If your application is successful, you can repay your loan via direct debit, so you’ll never miss a payment. Many online lenders allow you to manage your loan via online banking or an app, making it painless to look after your repayments.
Where is the easiest place to get a loan from?
You can get a loan directly from an online lender or use a comparison website like ours to find the best deal to suit your needs.
Our eligibility checker matches you with the loan providers who are most likely to accept your application. You can then apply online or over the phone without needing lots of documentation or visiting a bank branch.
Our eligibility checker means you won’t need to apply for lots of loans that you may not be approved for, meaning your credit score won’t be negatively affected by numerous failed applications.
What is the easiest loan to get approved for?
Every lender we work with sets their own eligibility criteria, and our site provides a straightforward way to see which loans you’re eligible for.
By using our eligibility checker, you’re far more likely to find a loan provider who will approve your application.
Our eligibility checker helps you to find out if you qualify for a loan without leaving a record of a hard search on your credit report.
In most cases you'll need to be:
- Over 18
- A UK resident
You'll also need to have a bank account with a debit card
How much does a loan cost?
The cost of a loan depends on several factors, including the amount you want to borrow, the annual percentage rate (APR) and the term of your loan.
You'll need to take into account these things when working out the cost:
- The amount you want to borrow
- The rate of interest you'll be charged
- Any charges and fees you might have to pay
- The time period you've agreed to repay the loan over
All of these things will help you to calculate the total amount you’ll have to repay to the lender. You can use our loan calculator to work out how much a loan will cost you.
What do I need to apply for a loan online?
While online loans typically require less paperwork than a loan from a highstreet bank, you'll still need to supply ID and prove you can afford to repay the loan.
Depending on the lender you may need to provide:
- Proof of identity: e.g. passport or driving licence
- Recent proof of address: e.g. utility bills, mortgage statement
- Income evidence: e.g. wage slips or HMRC letter
Some lenders will ask about your outgoings, like existing debts, monthly rent, mortgage payments and utilities.
What are the pros and cons of applying for a loan online?
A loan that's easy to apply for online is ideal if you need a quick decision and money in your account fast. However, there are also downsides to consider. Here are the pros and cons:
- Easy, straightforward online application
- Less documentation to provide
- Get your money quickly if you're approved
- Available for borrowers with bad credit
- Typically more expensive than a loan from a high street bank
- Normally short-term for under £5,000
- Charges for late or missed payments
- You'll damage your credit record if you're unable to repay the loan
What alternatives are available?
Guarantor loans are a type of unsecured loan where someone else guarantees that the loan repayments will be made if you can't repay the loan yourself.
The loan terms are the same as a personal loan, but you and the guarantor will have to have affordability and credit checks performed. If your guarantor has a good credit rating, you may benefit from lower interest rates.
Short term loans
With a short-term loan you can typically borrow anything between £500 and £25,000 via an online direct lender to pay back within 12 months.
It’s an unsecured loan which means you won’t need to offer your property as security against the loan, although you'll have affordability and credit checks performed which can leave a record on your credit report.
Credit union loans
This type of loan is available if you are a credit union member or belong to a community with a credit union.
Your credit union will still need to carry out a credit check and assess your affordability, but they typically have more flexible lending criteria than a bank or direct lender. Interest rates can be lower, so if you are eligible, a loan may cost less but could take longer to approve.
If you've been on a benefit like Income Support or Pension Credit for six months or longer and need to borrow money to buy essentials, you could be eligible for an interest-free budgeting loan from the Government. If you're on Universal Credit, you may qualify for a Budgeting Advance.
Credit building credit cards
A credit builder credit card is worth considering if you need a small loan but have bad credit. These cards have low credit limits but are likely to have a lower interest rate than an easy loan.
You'll need to repay the balance on time and in full every month to build your credit score. If not, you could further damage your credit rating.
Easy loan FAQs
An easy loan gives you access to money fast and the application process is straightforward. You’ll get an instant decision and you can apply online or over the phone.
You can normally borrow up to £5,000 and could receive your funds within a few days, but interest rates can be higher, which means a loan that’s easy to apply for can sometimes cost more than a loan from a highstreet bank.
If you apply for a loan via our website, we’ll match you with the lenders who are most likely to accept your application, even if you’ve got a bad credit history.
Many loan companies offer loans designed for borrowers with bad credit, so it's worth using an eligibility checker like ours to find which providers would be willing to lend you money and at what rates.
Be prepared to pay a higher than average interest rate on your loan if your credit score is low or you’ve struggled to stick to the terms of your credit agreements in the past.
Many of our loan providers provide an instant decision on your application and aim to supply your funds on the same day or within a few days if you're approved.
You can use a loan for anything you need, for example, to buy a new car, pay for a family holiday or event, purchase furniture or white goods or to consolidate debts.
This will depend on how you’ve managed credit in the past and your eligibility.
The better your credit score is, the more loans you’ll have to choose from.
By using our loans eligibility checker, we’ll match you with the loan providers who are most likely to approve you for a loan.