Oakam Loan

14673 reviews

1416.9% Representative

Will lend between: £200 - £1,750

Over: 3 - 12 Months

Representative example: Representative Example: If you borrow £740 over 26 weeks at a Representative rate of 1,416.9% APR and an annual interest rate of 279% (variable), you would pay your first payment of £76.12 and then 25 weekly payments of £53.43. The total charge for credit will be £671.87 and the total amount repayable will be £1,411.87.

Are you eligible for Oakam Loan?

Check your eligibility before you apply.

  • Quick 40 second form.
  • No impact on your credit file.
  • Free personalised eligibility score.
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Oakam Loan customer reviews.

14673 reviews

4.9 out of 5 stars

Terrible company
15:02 28-11-2015
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sky high interest,and now they don't even offer the bonus rewards!Always empty as people have now wised up,cant see them lasting with the fsa tightening things up!!-Alleluia!


Not Good Loan company
02:24 29-08-2013
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I am very disappointed with Oakam as a Loan company as I made all my payments and didnt receive my bonus which so very annoying this company is a rip off wouldnt advise anyone to borrow from them the interest is to high and they overall rip you off

Angry Ex Customer

10:06 30-07-2013
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i think oakham are disgriminating and verry rude i was told in store i was aceapted for 200 pounds for me then to be told i will not be reciving the loan as i got declined due to my criminal record witch is verry discriminating for them on a later date today to still set up a direct debit in my account and take funds out with them never givin me a loan and they say they refused me ccuz off my criminal record due to mistakes when i was younger i think they are the real criminals !


Our review of Oakam Loan

Oakam are a London-based lender that were founded in 2006. They are a ‘Fintech’ company that aims to ‘empower those overlooked by traditional lenders’. Oakham have a flexible repayment plan as well as allowing to top-up your loan in-store, on the phone, or by using their award winning app. If you’ve taken a loan out with them before, you may be offered a cheaper rate next time due to their philosophy of rewarding good repayment behaviour.

Their APR is the higher end of the market for a high-cost short-term loan, but it’s always important to remember that lenders are capped at charging you a 0.8% interest rate per day of borrowing. Like a lot of lenders, Oakam do not charge late fees for missed repayments, nor do they charge if you decide to settle your loan early. But be warned, any missed repayments will still adversely affect your credit file.

With Oakam being classed as a tech company, they believe that technology should enhance, not replace face-to-face engagement. Many users spoke positively of how fast it takes to receive the money in your account, claiming the process to be hassle-free with a lack of paperwork to complete. With friendly and helpful staff that are happy to guide you through the process, it seems like Oakam are a helpful company that want their customers to have a positive experience from start to finish.

If you're considering taking out an Oakam Loan, the usual high-cost short-term loan health warning applies: make sure you can afford the repayments before you apply. Although Oakam do not charge for missed or late payments, they will show up on your credit file and make your financial life more difficult in the future. If you find yourself struggling to make your repayments make sure you let Oakam know as they will work with you to limit the damage.

Overall verdict: The internet is flooded with positive reviews from very happy customers for Oakam Loans. With their slick website that is simple to use and packed with useful information, right down to their great customer services, they’re definitely an option worth considering. However, due to the fairly expensive price tags on their loans, I would always make sure you shop around before you apply. Most importantly, always remember to make sure you can actually afford the repayments before you apply.

Written by: Mark


  • Applicants on benefits are considered if they can afford repayments
  • Flexible repayment plan
  • No late or early settlement fees
  • Same day loan
  • Consider customers with poor credit circumstances
  • Reward customers who payback on time with cheaper interest rates for future loans
  • Loan top ups available

Minimum criteria

  • You must be over 18 years of age
  • You must have been living in the UK for a minimum of 6 months
  • You must earn at least £400 a month


  • Maximum APR 1596.1%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Oakam Loan

The Oakam Loan is a short term loan designed to give you a cash boost when you need it. Oakam offer loans between £200 to £1,750 over period of 3-12 months, depending on the amount you borrow.

The APR value also varies on the loan amount and duration, from 1,584.5% for the lower loan amounts, down to 336% APR (both representative values).

You can top up your loan and Oakam offer reward pricing structures if you successfully repay your first loan, meaning you could get better borrowing rates for future loans.

Company information

Registration number: 05878249


020 8819 3767

172 Tottenham Court Road 3rd Floor London W1T 7NS

FCA registration

Reference No: 678734

Trading names: Oakam

Place of business: 172 Tottenham Court Road 3Rd Floor London W1T 7NS

Data protection registration

Registration No: Z9778446

Data controller: Oakam Ltd

Address: 172 Tottenham Court Road 3Rd Floor London W1T 7NS

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