Our chance of approval rating is intended to help point your search in the right direction.
A positive rating does not guarantee that your application will be accepted. Approval of any application is solely at the discretion of the provider.
The maximum APR from the loans above is Representative 1575% APR. Maximum term available is 12 months and minimum term available is 3 months.
Default fees of up to £15 may apply to certain loans.
Representative 1575% APR. Representative Example: If you borrow £400 over 26 weeks at a Representative rate of 1,575% APR and an annual interest rate of 183.00% (fixed), you would pay 26 weekly payments of £29.46. The total charge for credit will be £365.96 and the total amount payable will be £765.96.
The loans you can compare here are loans from providers who claim that they're able to pay out same day loans.
Under what kind of circumstances should you apply for a quick loan? My research has shown that the providers who pay out same day loans are at the expensive end of the spectrum, almost always catering to customers looking for bad credit loans. Wherever possible, you should look to utilise savings to cover emergency spending or a credit card or overdraft. I realise that those options aren't always realistic for everyone and we receive emails from quite a number of customers telling us that they need funds quickly. So what I would say is, if you're absolutely sure you need a loan quickly and you've explored all other possible ways of covering your emergency spending - use this table to compare personal loan products in this bracket. Please make sure you don't just look for the first lender who'll accept you. Instead, consider the price of each product and the terms on which the loan is based.
High-cost short-term loans
High-cost short-term loans (HCST), commonly known as payday loans are, as their title suggests, loans designed to be repaid over a short term. Loans range from £100 to £1000 and are generally repaid within 6 months.
HCST loans sit at the pricier end of the scale and should be considered for use only as a last resort. If you are thinking of a HCST loan be sure to compare your options first and be absolutely positive you can afford the repayments before you apply.
What not to do
Where's the first place you look for a loan that you need paid out asap? The trusted source of all the information you could ever need? The internet. Sadly, if you go to google, type in "Quick loans", you’ll get search results promising “same day loans instantly if need be" or "cash paid in 10 mins". STOP. These sites are lying to you. There isn't a loan provider in the UK that is going to issue you an instant loan. They are brokers, lead generators or “ping trees” (this is when your information is literally “pinged” to as many companies as possible). They cannot offer you a loan and they absolutely cannot give you a loan within 10 minutes. What they will do is take an extensive application from you, send your details to as many lenders as possible and more than likely, sell your details to multiple spammers or cold callers who'll text and phone you incessantly offering to reclaim that PPI that you've never had or to transfer compensation into your bank account for the accident you weren’t in.
Choose Wisely WILL NEVER sell your details to any spammers or cold callers, we DO NOT charge you to compare quick loans and you're under absolutely no obligation to take out a loan if you compare them using this table.
Pricing and things to watch out for
Applying for a loan with the intention of getting it paid out very quickly means high rates of interest. Look out for transfer costs or "fast track fees" too as some lenders will charge to get the loan into your account within 24 hours. When applying for a "quick loan" be sure to do your research and make sure you have all necessary information to hand. They will not process your application until they have all the required information - so save time and be prepared.
Criteria will vary from product to product, but as with any loan, you need to make sure that you're a UK resident, you are over 18, have a UK bank account, a valid Debit card and as with all loans, you’ll need to be able to convince the lender that you'll be able to afford repayments on a loan that you take out.
Loans should never be used to cover repayments on other debts, high-cost loans shouldn't be used as a long-term solution and should be paid off as quickly as possible. Providers who offer fast loans are lenders of last resort. Think carefully before taking a quick loan out and if you think there is even a tiny chance you’re not going to be able to repay the loan at any stage, then find another solution.
You can personalise these results with our loan search.