Applying for an Instant Loan

Unexpected financial emergencies pop up for all of us. Sometimes we need a quick loan to cover those urgent bills in the form of instant loans that can cover the immediate costs. Long-term personal loans may not be the right solution for you. If this is the case then take a look at how to apply for an instant loan through Choose Wisely.


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Representative 770% APR. Representative Example: If you borrow £550 over 18 months at a Representative rate of 770% APR and an annual interest rate of 180% (fixed), you would pay 18 monthly instalments of £113.06. The total charge for credit will be £1,485.08 and the total amount payable will be £2,035.08.
Choose Wisely is a trading style of Choose Wisely Limited and is a free to use price comparison website. Choose Wisely Limited is authorised and regulated by the Financial Conduct Authority as a credit broker not a lender, firm reference number 730574 and is registered with the Information Commissioner’s Office number Z3106681.

A quick, easy way to get a instant loan today.

  • Borrow from £300 to £10000.

  • Choose between lenders who have accepted your application.

  • Absolutely no fees, ever.

Representative 770% APR.

How to get a instant loan in 3 simple steps.

Affordability assessment.

1 form - takes 2 minutes to complete and your data is 100% secure.

Compare products.

Choose from lenders that have accepted your application.

Speedy finance.

If approved, the cash can be in your account in as little as 15 minutes.[†]

Table of contents

Written by Mark Grimley
Read time: ~5 mins
Published: 27th July 2020 Updated: 19th January 2022

What are instant payday loans?

An instant payday loan is a form of financing which provides access to quick amounts of cash that can help to address your short-term spending needs. Pressing cash concerns such as car repairs, boiler breakdowns and even medical emergencies can create financial stress which you may be able to ease with instant decision loans.

Instant loans are one of several different short-term borrowing options that have been designed to give you financial help between paydays. An instant loan, much like the name suggests, get paid into your bank account quickly thanks to the instant decision design. This makes them the perfect choice when you need cash in a hurry.

Unlike mortgage repayments or personal loans through the bank, an instant loan is a type of short term borrowing. This means that they are paid out quickly but also need to be repaid rapidly as well, usually with a few weeks or months of the funding being approved. Instant loan amounts tend to be quite small and normally go up to around £2,500.

I need money now. Will I get an instant decision online?

We know how much stress a financial emergency can put on you, and the importance of getting things sorted fast . Once you submit our online form you will receive a comparison table of results, highlighting those lenders that have provided a decision in principle based on a soft check of your credit file. You can then compare your options and visit your chosen lender to complete a full application. You will then be subject to a full credit check where the lender will then provide a final decision on your application. The decision is always the lenders to make and they may ask you to provide further information before accepting your application.

Many of the lenders we work with here at Choose Wisely do provide their clients with instant decisions on their loans. We perform an initial soft check on your credit to match you with the lender that matches your needs most. This application will give you an instant decision in as little as two minutes. For full applications you could end up with a decision in 15 minutes or less. It all depends on your situation and the lender’s criteria.

What should I consider when applying for an instant loan online?

There are several criteria that you must meet in order to be eligible for an instant loan. All of these factors are things you should consider before applying for instant decision loans:

  1. You have regular income.This could be full-time, part-time, self-employment or even regular benefits.

  2. You will need to prove that you receive a consistent income and show that you will be able to afford the monthly repayments.

  3. You will need to be a UK resident with a registered address.

  4. You must have a valid bank account and a debit card.

When you submit your first application on Choose Wisely lenders will perform a soft search on your credit file. Soft credit checks do not leave any marks on your overall credit score. Anyone with a low credit score can still apply to receive a loan through Choose Wisely as we work with a number of lenders that specialise in helping those who have been turned down for instant loans in the past.

Something else you should consider before applying for any kind of loan is the reason that you need to borrow money in the first place. This may be a question you will need to answer as part of your application. Credit in the form of instant loans should only be used for emergency and unexpected costs to cover temporary financial shortfalls. You need to be confident that you can repay the debt in time either in instalments or in one lump sum.

Will getting an instant decision from a direct lender impact my credit file?

The initial application for an instant decision loan on Choose Wisely involves lenders completing a soft credit check. This won’t appear on your credit file and won’t impact your credit score. They carry out these checks so they can instantly determine whether or not you are suitable for their loans. If you decide to continue with a particular lender, they will likely carry out a hard credit check on your file, once you submit your full application directly with them.

How can I use an instant loan?

An instant loan gives you access to quick cash which can be used in a number of ways. Usually those who are interested in applying for an instant loan have had some unplanned expenses. The circumstances could include:

  • Car repairs for unforeseen breakdowns or MOT repairs
  • Emergency medical bills for costs not covered by the NHS
  • Home repairs such as plumbing problems and broken rooves
  • Expenses for funerals
  • Sudden changes in your income such as wage payments being delayed

Lenders will usually ask you why you need the funds, although there are a whole range of reasons that are acceptable. They don’t tend to consider applications for anyone looking to use the funds for business purposes as you would need to contact a specialist lender in this case. Gambling debts is also another reason that you cannot borrow an instant loan for. Lenders will automatically decline any applications they think are being made for the wrong reasons.

An ideal application for an instant loan would be someone who cannot or doesn’t want to access a longer term form of borrowing. If you make the repayments in time or pay off the loan early instant loans can even be used to build up a better credit rating, helping you to access more credit in the future.

Is it easy to get a quick payday loan?

We try to make it as easy as possible for you to find a payday loan. Our initial application only takes a few minutes, after which we compare lenders that have accepted you based on a soft credit check. Once you have been accepted you will then have to complete a full application from your chosen lender. If you are approved the funds could be in your bank account in less than an hour.

There are a few things you can do to make it easier to receive a quick payday loan.

  • Ensure you meet the basic loan criteria. This means you will need to live in the UK, have a job and hold a UK bank account.
  • Make sure that you can afford the repayments. Take a look at your current finances and see if there is room in your monthly budget to pay back the loan.
  • You will need to show that you are responsible with your finances. People who have high levels of debt or are having money issues may find it more difficult to get instant loans.
  • Complete the application with all of the correct information. This makes the process a lot faster and means you won’t have to go back and redo any part.

Choose Wisely help you to find the best lender to suit your instant loan needs. With our quick application process you will be matched with the ideal lender that could pay out your loan the same day.

Instant loan FAQs

Do I need a guarantor to get an instant loan?

No. Although there are some lenders that require you to have a guarantor, most short term lenders that offer an instant decision online won’t require you to provide a guarantor.

How much can I borrow with an instant loan?

Often between £100 and £5000, depending on the lender.

What if I struggle to repay my instant loan?

If you are struggling with debt the best thing you can do is speak to someone. Money Helper ( can offer you free impartial advice.

Written by
Mark Grimley
Head of Partnerships & Take Control Author at Choose Wisely

Mark joined Choose Wisely in 2015. He continues to work in close contact with the providers, brokers and journalists operating in the world of consumer credit.

The quickest way to find the best instant loan for you.

No obligation. 100% secure.

Important Information.

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

Rates shown are quotes 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 3.9%APR to a maximum of 1575%APR Representative and loan repayment periods range from 3 to 60 months.

[*][†] Once accepted, your loan can be transferred to you in as little as 15 minutes. The time that it takes for the loan to show in your bank account will depend on your lender and your bank.

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

If you've been declined, please refer to your credit report to gain an understanding of why before making further applications.
Your score can be accessed for free via any of the main credit reference agencies such as Credit Karma, Clearscore or Experian.

Warning: Late repayment can cause you serious money problems. For help, go to