Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk
Which payday loan is best for people with bad credit?

Let Us Find the One for You Today!

Love Your Loan

Personalise your loan to your requirements – Loans to suit every circumstance

Read More

Online Applications

You can do your application from start to finish all online and all in just 2 minutes

Read More

Know Your Loan

Repayment statements make it easy to follow your progress – Keep on top of your plan

Read More

The Important Parts

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Note: Loanago is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

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

Loans subject to status. Over 18s only. Minimum loan amount may apply.

Rates from 4.5% APRC to 500% APRC are available – the highest rate is for customers with severe credit problems. Loans available from 1-25 years. TYPICAL 10.9% APRC variable

Lenders Facts

Loan amount
£50 - £2,000
Loan term
3 Months Only
CUSTOMERSCORES
Good
Apply Now

Show More ▼

Loan amount
£200 - £1,000
Loan term
3 - 6 Months
CUSTOMERSCORES
Excellent
Apply Now

Show More ▼

Bad Credit and Payday Loans

All of us have our ups and downs in life and we all experience times when we are in dire need of cash due to emergency situations that come up without any warning. But we might not have enough savings in the bank account to help save us from that situation. This is why there are fast payday loans for bad credit available to help you get access to the cash. The best part about it is that you will be able to get access to the cash within 24 hours of applying for the loan. A number of people turn towards payday loans because of effective and affordable options that can be used almost immediately.

Effective Use of Payday Loans

The fast payday loans for bad credit are designed to be used during times when you cannot wait for money. They should be paid back within a period of 15 to 25 days. The reason for the name payday is because the loan is meant to be paid during the next payday after the loan is taken. The borrower provides the lender with a check which he can draw during the next payday of the borrower. A heavy interest is levied on the loan taken as it does not involve any collateral and is also not bound by your credit history. The fast payday loans for bad credit is approved solely based on the salary that you draw and is limited by it.

Worried about Bad Credit?

One thing that you need to know, about fast payday loans for bad credit, is that your credit history is not taken into consideration when you have sanctioned the loan. This is mainly because you are expected to pay back the money within a short time and the loan depends on your pay check. Your credit history, be it bad or good will only be able to influence the interest rate that is levied on your loan. Hence payday loans are considered to be fast payday loans for bad credit. Irrespective of this, if you fault on the repayment period, you will have to pay a penalty for the delay in payment. This might also reflect in increasing the interest rate further as you prolong the time to repay.

Can you Repay the loan borrowed?

Fast payday loans for bad credit should not be taken for granted. You should remember that the loan is for a short period of time, but the interest that you pay is quite high when compared with other loans. Hence, you will have to budget your total salary and take a loan which you can pay after meeting your monthly expenses. If you end up getting a loan that will be higher than your salary expense, you will be caught in a spiral of debt. Always think twice before borrowing money to meet your emergency needs within a short period of time.

Online Approval, No Direct Meeting

The internet has been a revolution and has taken loan lending and borrowing process to a new level. In order to get a fast payday loans for bad credit, you do not have to take time, find the right lender, set a meeting date, meet and follow-up. The entire process has been slashed down to simply filling out forms online, verification of proof and approval of loan online. It does not involve you having to meet anyone in person for this purpose. This will not only save time but will also save a lot of paper and money spent on processing and other fees. Moreover, when you are looking to get a loan online, you could always compare the different interest rates that are provided by various lenders and choose the one that will best suit your requirements.

%

Applications Accepted

%

With Bad Credit

%

Return Customers

What is payday loan?

When you are dealing with payday loans, you will be able to get your application processed within a matter of one hour and your money will be deposited in your account on the same day. In general, your loan will be approved and rejections are possible only in very rare cases where your credit history is extremely poor. A payday loan is the only personal loan that you can rely on to be available at all times whenever you need.

Before you actually apply for payday loan, you need to check if you are eligible for the loan. A payday loan is a huge risk that you are taking with your next pay check. You will also need to have a bank account to which your money has to be transferred. No matter the loan that you take, you should be sure to pay it back on time.

5 most recent personal loan reviews

Review of Funding Circle

Very quick response and good safety features. Speak to real people once the application has been logged. Very simple to fill out. Would definitely recommend Funding Circle to anyone.

Review posted by Gary Craigs, Dumfries

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Savvy

Really Great Service! Thoroughly recommend! Have dealt with several loan companies & Savvy is definitely the best, easiest, professional & they do exactly what they say unlike many other financial companies that lead you up the garden path!

Review posted by Helen Stern, Sheffield

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Capital One

I have poor credit and really needed the money to pay a court fine or be up against the magistrate again. Really helped me out and I found the charges for the credit very reasonable. Would highly recommend if your in a pinch. Great customer service and went out of their way to help get the loan out the same night I applied. Started 6pm and had money in the bank before 10pm. Great service.

Review posted by Blake Harrington, Margate

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews have been sourced from Trust Pilot to ensure the authenticity of accounts.