Payday Loans

The UK's most reliable payday loans, available online within minutes of completing an application form.

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Payday loans offer instant cash to help you get through life's unexpected emergencies.

By selecting a lender that offers competitive payday loans and a simple online loan application, you can access your cash right away.

Frequently Asked Questions

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We’ve all heard about payday loans and most of us have either taken out a payday loan or know someone who has. A payday loan is basically an advance on your paycheque so when payday comes the amount you borrowed, plus interest will automatically be deducted from your account.

Some lenders refer to a payday loan as a “1-hour loan” and you may also hear terms such as a payday advance, salary or cash advance loan – all of these refer to the same thing – a short-term loan.

On average payday loan terms span a mere two weeks, so more people tend to take out a payday loan in the middle of the month.

What exactly is a Payday loan, and how does it work?

Payday loans are unsecured, short term, high-interest loans.

This means that in order to get a payday loan you need not put up any collateral like you would with car finance. Payday loans have been gathering a lot of negative publicity as their popularity has increased over recent years.

This may have been the reason for the recent cap imposed on loan providers by the Financial Conduct Authority (FCA). This cap means that lenders may not charge borrowers more than double of their initial capital loan amount. This cap, which has essentially lowered the cost of taking out a loan, is now sitting at 0.8% per day.

New regulations protect borrowers

Another newly introduced regulation that aims to protect borrowers struggling to repay their short-term debts is the fee cap of £15. The third new regulation is a total cost cap of 100% which means that borrowers should not have to repay more than the sum of money they lent in fees and interest.

The loan industry simply boomed overnight and it is estimated that there are over 240 micro lenders in operation in the UK. The latest statistics have revealed that of these 240 providers, 3 of them share more than half the market share based on turnover and loan values.

Payday loans can be a life saver during a cash emergency

Generally speaking, payday loans are designed to help pay overdue bills, unexpected medical bills and vehicle and household repairs but, many times they’re used for other non-emergencies such as purchasing luxury items and funding family outings.

Taking out a payday loan that gives you almost instant access to some cash flow makes sense during any financial crisis. It's nevertheless still important to consider the fact that short-term loans have high-interest rates and can have a detrimental effect on your financial situation if you fail to make the payments.

Six loans per year, per borrower – that's the average

It’s estimated that the average payday borrower will loan six times per year. If we consider that more than half of the overall profit made by borrowers comes from rollovers, it becomes quite apparent that the major issue with payday loans is the inability of borrowers to repay them on time.

Consider alternatives to a Payday loan

Before you consider a payday loan, it’s recommended that you rule out other ways of accessing cash. This can include selling valuables you no longer need, borrowing from family or friends or even asking for an advance on your paycheck from your employers.

If you have a credit card you should rather use it than apply for any form of instant credit where the interest charged will be much higher.

How much higher you may ask?

Well, even with the recent caps, a payday loan will cost you more in a single month than a credit card would for a whole year. If you decide to use a credit card then you must still ensure you can clear it by the next month.

If you have a limit on your credit card you should contact your bank and try getting the limit increased. Its well worth it if you can avoid the interest that you'll be paying for a payday loan. If you can get a 0% interest spending card then this is obviously going to be the best way to help you get out any sticky financial situation.

It may take anything up to three weeks to get the card issued – so this is not going to help you if you're in desperate need of cash immediately. Despite this, it makes sense to apply for it now because, should you be strapped for cash again, you will have it readily available to help take some strain off of your paycheck.

Even if you have a poor credit history you may still be able to get a 0% interest cards – the difference is that the deal will be shorter than the maximum 29 months those with good credit can get.

Remember that if you don't make the minimum payment on the 0% interest card you will lose the 0% deal and always clear the card before the deal term ends to avoid having to pay interest.

Payday loans from Credit unions

Another cheaper option than a payday loan is instant loans from local credit unions but again, this is only an option if you have some time to spare or are already a member.

If you're looking for a way to pay off other outstanding debts, getting a payday loan is definitely not a good idea. If you couldn’t make the payments on those other debts chances are you won’t be able to pay the payday loan either.

Can I afford to take out a Payday loan?

Only consider a payday loan if you are 100% certain that you will have the money to pay it back. Never go into it with the idea that if you can’t make the payment when you get your paycheck as you'll just ask for a rollover. This is how a debt spiral begins so think long and hard about it first.

Payday loans & your Credit history

Many people worry that getting a payday loan will negatively affect their credit report but the simple truth is that it will only affect it if you fail to make the payments.

A payday loan may show up on your credit report but traditional lenders such as banks will not view this as a negative thing if you’ve made your payments and cleared the debt unless you have taken out multiple short-term loans in a fairly short space of time.

The reason is that it will suggest that you cannot budget correctly and are experiencing serious financial pressure.

Do your homework on the lender

So let’s assume at this point that you’ve considered all the alternatives and still need a payday loan to get you through the month – or through a crisis. The first thing that you should do if it’s the first time you're taking out a payday loan is to check up on any loan provider but doing a bit of quick research.

Make sure your Payday lender is registered

You're probably better off going with one of the larger providers rather than a lesser-known provider but, regardless of which you choose, you should always make sure that they are registered with at least one trade body. Trade bodies include the Consumer Finance Association (CFA) and the Consumer Credit Trade Association (CCTA).

To avoid fly by night scams it may also be worth it to check that the provider lists an address on their website. Usually, you'll get the money 24 hours after you’ve been approved for a payday loan but if you need “same day” cash then you may incur a fee for this.

Repay your Payday loan earlier & save

A tip worth mentioning is that some lenders may reduce the cost of their loans if you repay it earlier than the agreed date. If you think you can achieve this then you should look for a lender that provides fee free early repayment options.

Many providers will require that a Continuous Payment Authority be set up – so that they can make more than one attempt to retrieve the money you owe them from your account if their first failed due to insufficient funds. You need to be careful of this because CPA’s are difficult to cancel and you may incur additional fees from your bank.

Know your rights when you take out a Payday loan

It also helps to know what your rights are when you’ve taken out a loan – especially when you can’t make the payment as agreed.

Loan providers cannot make more than two attempts to deduct money from your account or even deduct a partial amount.

If you don't pay anything for 60 days they will freeze the interest and charges but, they’ll damage your credit report by reporting you to credit reference agencies, so avoid this at all costs.

Requirements to apply for a Payday loan

To get a payday loan you will need to provide proof that you're employed, have an existing check or savings account open for no less than 30 days, and be 18 years or older. You should also have valid social security or individual taxpayer identification number and be a UK resident.

Some providers have flexible payment options that allow you to pay the payday loan in up to three instalments and you can make an online application 24 hours a day, seven days a week.

If this is the first time you’ve taken out a payday loan then you will have a smaller limit. If you’ve previously taken out a payday loan and choose to use the same provider, don't be tempted to take out more than you really need.

Special offers from Payday lenders

Additionally, once you’ve taken out a payday loan and repaid it, you'll be seen as a good customer and probably receive some form of communication from the provider.

This will be in the form of an email or text message to try and encourage you to take out another loan but, you should avoid being tempted by this at all costs even when you're offered a “special offer”.

The reason that they send out marketing communications is that they know that once a person has taken out a payday loan once, they’re much more likely to do it again.

Statistics have actually shown that the average payday lender will take out 6 loans a year – that amounts to a lot of interest. If you find that you're struggling to cope till the end of the month you should review your spending habits and budget to see where you're problems stem from.

Why Payday loans are a favorite among borrowers

There are two major factors that make payday loans a popular choice for resolving temporary cash emergencies; the first being that there are no credit checks conducted when taking a loan. This means that those with bad credit rating can also apply.

The second is the fact that it is easy to apply and the money is credited really fast. Most payday lending is now done online and you can have the money credited to your account within only 15 minutes.

Students can also apply to get a Payday loan

Particularly from loan providers who specifically target students but these lenders will almost always loan only small amounts – much less than regular payday lenders.

This is obviously due to the fact that students typically have a very low income or allowance. They will review how much you're receiving on a regular basis to determine how much they’ll lend you.

Putting your education at risk is never worth it no matter how badly you need the money. Make sure you have a parent or family member who will be able to help you out if you can’t replace the money you’ve used to repay the loan.

What if you're unemployed?

If you're looking for a payday loan and are currently unemployed you may still be able to qualify if you can prove that you have some form of income. In addition if you can have a guarantor accept responsibility for the loan, should you be unable to repay you may be approved.

You'll obviously be better off borrowing the money directly from the person who would act as your guarantor, so try to make this arrangement first.

In summary, try to avoid any short-term high-interest debt and if you're backed into a corner and need some cash fast, only take out a payday loan if you are certain that you can repay it. Always ensure you use a reputable provider and that you don't make a habit of using payday loans to get through the month.

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List of direct lenders offering Payday loans

  1. Dot Dot Loans Payday loan

    Dot Dot Loans

    • Loans up to £1,250
    • Term up to 9 months
    • Interest from 178%
  2. Drafty Payday loan


    • Loans up to £3,000
    • Term up to 6 months
    • Interest from 89.7%
  3. Piggy Bank Payday loan

    Piggy Bank

    • Loans up to £5,000
    • Term up to 60 months
    • Interest from 1212%
  4. Oakam Payday loan


    • Loans up to £5,000
    • Term up to 36 months
    • Interest from 149%
  5. Post Office Loans Payday loan

    Post Office Loa...

    • Loans up to £25,000
    • Term up to 7 years
    • Interest from 4.4%
  6. Wonga Payday loan


    • Loans up to £4,000
    • Term up to 6 months
  7. The Money Platform Payday loan

    The Money Platf...

    • Loans up to £1,000
    • Term up to 9 months
    • Interest from 193.5%
  8. Kabayan Finance Payday loan

    Kabayan Finance

    • Loans up to £1,000
    • Term up to 40 days
    • Interest from 365.5%
  9. Barclays Payday loan


    • Loans up to £25,000
    • Term up to 60 months
    • Interest from 4.3%
  10. Santander Payday loan


    • Loans up to £25,000
    • Term up to 60 months
    • Interest from 3.5%
  11. Money Super Market Payday loan

    Money Super Mar...

    • Compare car loans
    • Reliable vehicle finance
    • Low rates
  12. Wizzcash Payday loan


    • Loans up to £1,000
    • Term up to 3 months
    • Interest from 1265%
  13. Payday Loans Now Payday loan

    Payday Loans No...

    • Loans up to £5,000
    • Term up to 35 days
    • Interest from 292%
  14. Payday Pixie Payday loan

    Payday Pixie

    • Loans up to £2,000
    • Term up to 90 days
    • Interest from 728.9%
  15. Peachy Loans Payday loan

    Peachy Loans

    • Loans up to £1,000
    • Term up to 12 months
    • Interest from 248.37%
  16. Credit On Demand Payday loan

    Credit On Deman...

    • Quick loan applications
    • Instant cash loans
    • Low rates
  17. JL Money Payday loan

    JL Money

    • Loans up to £10,000
    • Term up to 24 months
    • Interest from 22.76%
  18. QuickQuid Payday loan


    • Loans up to £1,500
  19. Sunny Loans Payday loan

    Sunny Loans

    • Loans up to £2,500
    • Term up to 14 months
    • Interest from 1267%
  20. Cash Genie Loans Payday loan

    Cash Genie Loan...

    • Loans up to £400
  21. Pounds to Pocket Payday loan

    Pounds to Pocke...

    • Loans up to £2,000
    • Term up to 12 months
    • Interest from 278%
  22. Payday Pedro Payday loan

    Payday Pedro

    • Loans up to £1,000
    • Term up to 35 days
    • Interest from 2628.2%
  23. Payday Loan 123 Payday loan

    Payday Loan 123

    • Loans up to £5,000
    • Term up to 32 days
    • Interest from 292%
  24. First Premier Loan Payday loan
  25. True Blue Loans Payday loan

    True Blue Loans

    • Loans up to £3,000
    • Interest from 234%