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 ▼

Advantages of Getting a Payday Loan

One of the best ways to meet your financial emergencies face to face would be with the help of payday loans. Cheap payday loans will give you the ultimate way to pay for late bills and unexpected expenses that occur before you get your pay check. This loan helps you avoid late payment penalties You can pay an off your payday loan when you get your salary. There are a number of advantages when you take a payday loan, in comparison with other loans.

Advantages of Payday Loan

Here are 3 major advantages of getting a payday loan over another form of loans

1. Speed 

In general, the payday loans are approved almost immediately and only limited details regarding you are required to process your application. The entire application process is quick and simple. In fact, it will not require filling long lengths of forms similar to the ones that need to be filled for conventional loans. It might, however, take some time for the amount to be deposited in your account by the lender (on the same day or by the following working day). When you provide the essential details, it is also possible for the lender to transfer your funds even quicker, within an hour. Moreover, it is not guaranteed that your request for the loan is approved. To maintain the competitive environment, many lenders in the market also try to push other lenders to provide timely service.

Credit cards and conventional loans will require a long processing time. Hence you will be required to wait for many weeks before you will be able to access these funds which will prove to be a waste of time when you have an emergency situation. Moreover, the possibility of you getting the loan is not 100%. On the other hand, when a payday loan is concerned, you will be able to get feedback on if your application is approved within a matter of one hour. There are some lenders who will provide you with immediate feedback and in case your application is not accepted, you could always try to get a loan elsewhere.

2. Convenience

The interactions, as well as the process involved when you are applying for a payday loan, are all done online. This means you do not have to waste unnecessary time in booking appointments with loan officers or calling the lenders to inquire about the money. No matter where you are, you can send your application form to the payday loan company. Another major advantage of the payday loan is that you can get the loan in the form of cash and you will be able to spend the cash on anything and everything you want from repairing your car to paying the electricity bill. In general, the traditional loans are provided for a specific purpose like a home mortgage to buy property or home and car loan to buy a car. Though there are not many documents involved which means limited faxing is involved, sometimes you will be asked for proof of income from the lenders.

3. Few Requirements

Getting a payday loan is quick as the requirements are limited. However, the most important information required is the source of income. If your income is verifiable and consistent, you are bound to get a lender who is willing to lend you the required money. Collateral is necessary for traditional loans but as far as payday loans are concerned, it is not necessary. Some of the other required details are registered as permanent residents and active checking account. You are eligible to get a payday loan only if you are 18 years of age. A permanent job ensures that you will most definitely meet the essential requirements. When applying for personal loans, your credit score and credit history will be checked by conventional lenders. However, if the score is poor, you could always choose to get a payday loan with bad credit, provided you have a stable income to pay it off on time. Though lenders will take a look at the credit score, their decision will depend heavily on your salary. Your history wad credit will not necessarily affect your loan taking process today.

Personal loans are taken to help a person from emergencies and other situations. However, for immediate loans, it is best to opt for payday loans which get processed almost immediately and the money will be transferred to your account within a matter of a few hours. Before taking the loan, you need to make sure that you have to ability to pay it off.

%

Applications Accepted

%

With Bad Credit

%

Return Customers

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.