A payday loan is a type of short-term loan that is unsecured and characterised by a high-interest rate. A payday loan allows you to get financial help to fulfil your emergency needs. However, payday loans are expensive, and you should avoid them unless you are sure that you will repay the amount on time. Many companies are providing such loans, and you can apply online for them. Once the loan is approved, the money is transferred to your bank account. You have to return the total amount plus interest at the end of the month. There is also an option to borrow money for a longer period and repay it in instalments.
As there are many lenders providing payday loans, you may get confused while choosing a lender. It is better to make a price comparison of payday loan providers in the UK so you can get one at a relatively low-interest rate. Here we are providing details and comparing the UK’s top payday loan providers that may help you choose the best one for you.
QuidMarket is a short term loan direct lender. The company was launched in 2011; from that time, it provides loans to people who are in short term financial need and find difficulty in getting loans from banks. It provides loans to those who have somewhat bad credit scores. If you are looking for a loan, but banks or high street lenders turned you away, QuidMarket can help you in this situation.
You can apply for a loan online entirely, however, in some cases. You have to provide supporting documentation. You can borrow an amount from £300 to £1500 for 3 to 6 months. You have an option to repay the amount in monthly instalments. It is beneficial when you have no financial means to repay the loan on your payday. Keep in mind that QuidMarket is known to charge high-interest rates.
Satsuma is a part of Provident Personal Credit that has an experience of more than 135 years in lending. The company provides short term loans to people who are in emergency financial situations. Unlike traditional payday loans, in which you have to return the amount when you get your salary, Satsuma provides flexible options to repay the loan. You can repay it through weekly or monthly instalments. Each repayment includes a part of capita and the interest rate.
With Satsuma, you can borrow an amount from £100 to £1000 over terms from 3 months to 12 months. However, you must remember if you borrow for longer periods, you have to pay more interest. You need to provide some personal, financial and work information. After reviewing this information, the company approves your loan application, and you will receive funds in your bank account.
Fast Loan UK is a part of JDB enterprise that is a UK based finance business with several years of experience in consumer lending. The company follows best lending practices to make sure that customers will not borrow any loan that they can not afford to repay. They provide all the information about loan and service cost. They offer quick finance to the customers looking for payday loans. Customers can borrow an amount between £50 to £2000. They offer flexible payback options, and you can repay the amount in monthly or weekly instalments. However, payday loans are high-cost shortterm loans, and the interest amount can be high if you fail to repay the amount on time. To get a loan from Fast Loan UK, you must be aged 18 years and a UK resident.
Cashasap is a direct lender, not a credit broker. It is a London based company that was launched in 2013. The lender offers the same day short term loans to those who are in fast financial needs. For a payday loan, you can borrow an amount from £50 to £750 for a period of 3 months to 6 months. Keep in mind that although you can repay in instalments but you will pay more interest overall. There are no late or early payment charges. However, late payment can affect your credit score, and it will become difficult to get a loan again. It is suggested to pay the full amount if you can afford it will save you from paying high interest. You should be at least 18 years old and have full time or part-time employment. Moreover, you should be a UK resident with an active bank account.
MrLender is a UK based direct lender of short term loans. It offers simple and flexible loans that tailor to your requirements. A payday loan from companies like MrLender is an expensive option, so you should consider it as a last resort. To apply for a loan, you should decide how much you want to borrow and for how long. MrLender has an online calculator to help you calculate the loan amount and interest. Once you decide on a loan that is suitable for you, apply for it online. You have to provide some basic information for a credit check. If the loan is approved, the amount is transferred to your account in a short time.
You can borrow an amount of £200 to £1000 over a term of 3 months to 6 months.
LoanPig is a direct lender, but it also sources you to the lenders if it fails to satisfy you with their services. It specialises in providing short term loans to individuals who need cash instantly and find it difficult to get loans from banks. LoanPig is able to provide its customers with a range of financial solutions such as loans for bad credit, shortterm loans and payday loans. Their loan amount starts from just £100 and rises to £1500. You can borrow money for a period of 2 months to 12 months. To get approval, you have to provide your identity, proof that you can afford the loan and your credit status.
MoneyBoat UK is a direct lender of shortterm Payday loans. They have a mission to provide fair, affordable and transparent loans. Even applicants with more adverse and bad credit can apply here for loans. The process of application is easy and online that saves you from the hassle of time-consuming paperwork. To apply for a loan, choose how much you want to borrow and also the time for which you want to pay it back. Then you have to complete a simple application form. MoneyBoat will conduct an affordability and credit check. If your application is approved, you will receive your amount typically within 15 minutes. You can get an amount of £200 to £1500 and can return it in 2 to 6 instalments.
CashFloat is a direct lender of payday loans, shortterm and bad credit loans. It also works as a broker in case they can not satisfy you, and they assist you to someone who can help. It offers payday loans that range from £300 to £1000. You can pay it back within a period of 3 to 6 months. The company is fully regulated by the Financial Conduct Authority. cashFloat focuses specifically on borrowers with bad credit and strives to make the process safe and hassle-free. They offer bigger loans with low interest to their repeat customers. It offers flexible repayment options, and the eligibility criteria is friendly.