15 minute loans

Looking for a direct lender that can payout in 15 minutes then use Choose Wisely to compare suitable options.Find out who will accept your application in principle without filling in multiple application forms.

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Written by Andrew Freelander
Read time: ~5 mins
Published: 28th September 2023

15 minute loans have got their name from the quick, almost instant decision process now provided by the majority of online short term lenders. Due to advancements in technology this new wave of lenders can assess your application and if approved, can in cases, deposit cash into your bank account within minutes.

Can I get a loan in 15 minutes with no credit check?

When applying for a loan of any kind you will have to undergo a number of checks before your application for a loan is approved. This isn't any different for direct lenders that advertise loans paid in 15 minutes. Although these checks may feel like a pain, they are in your interest. They exist to ensure that you can comfortably afford the repayments and that lending to you won't result in you entering financial hardship. These checks will primarily look at your:

  1. Credit history

  2. Personal circumstances

  3. Income and employment status

  4. Regular spending & outgoings

I have bad credit, will direct lenders give me a loan in 15 minutes?

If you have bad credit there are lenders that will still consider your application, although approval is never guaranteed. If you do have a poor credit history a good place to start is with the Choose Wisely loan eligibility search. This will provide you with a personalised panel of appropriate lenders to compare. If suitable this may include direct lenders that are able to offer a sameday payout if they approve.

How do I speedup the application process?

Start by completing a Choose Wisely loan eligibility search. This way you won’t have to waste time filling in multiple application forms. You will also be able to see where you stand and which lenders will accept your application in principle before you apply direct and get credit checked.

It’s also crucial to be honest in your application. All details you enter will be confirmed by the lenders checks so by not entering correct information you are wasting more time.

Getting a loan in 15 minutes FAQ

Do 15 minute loans exist?

15 minute loans refer to the time it takes for a lender to pay cash to those applicants they approve. Lenders do exist that are able to payout this quickly, but only to those they approve and even then a quick payout in 15 minutes can’t be guaranteed. The time that it takes for an approved loan to show in your bank account will depend on your lender and your bank.

How do I get a loan in 15 minutes?

Whether or not you can get a loan in 15 minutes is all down to your personal circumstances. Getting such a quick loan may or may not be the best or most affordable option for you. We suggest understanding your options by starting with a Choose Wisely loan eligibility search.

If approved am I guaranteed to get my loan paid out in 15 minutes?

Lenders may advertise that loans will paid out in 15 minutes, but if approved the time to receive your payout can not be guaranteed.

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Written by
Andrew Freelander
Take Control Author at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.

See full bio

Important Information.

All of the information in this guide is correct at the time of writing.

If you complete a loan search application on the Choose Wisely website, the rates shown may vary based on your personal circumstances, are subject to status and are available to those aged 18 and over. Rates available range from a minimum of 13.9%APR to a maximum of 1721%APR Representative and loan repayment periods range from 3 to 60 months.

If you need financial advice you can visit stepchange, speak to citizens advice, call the national debtline or speak to moneyhelper.org.uk.

If you've been declined, please refer to your credit report to gain an understanding of why before making further applications.
You can access your credit report for free from Credit Karma, Clearscore or Experian.

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