Last Updated on July 1, 2024 by admin
Are you in a financial trap and you need an instant loan to offset your emergency bills .Alright , it’s time for you to apply for a payday loan and get approved fast and easy without stress.
Payday loans are a small cash allowance designed to tide you over until your next payday. These cash loans are typically approved on the same day of application and are repaid in manageable installments with a fixed interest rate
Payday loans can be a costly way to borrow money, and they should be used as a last resort due to their high-interest rates. In the UK, payday loan regulations are stringent to protect consumers from predatory lending practices. As of my last update in September 2021, here are some reputable payday loan providers in the UK:
Payday loan should be use for the following:
1.Car Repairs
2. Unexpected Bills
3. Rent
4. Mortgage
5. Medical Expenses and much More
This Article will take you through the leading payday lenders in the United Kingdom we feel will give you the best value.The post will also walk you through the interest rate.
1. Swift Money
You can apply for a Swift Money loan in minutes whenever you need a quick short term credit facility. The loans are designed for emergencies, specifically for people based in the UK. The payday loans range from £50 to £1000. Repeat clients who have established a good relationship with us can borrow beyond £1000.
Swift Money loans attract very competitive rates. For instance, they offer a representative APR of 1255.66%. Feel free to compare Swift Money rates with those of our competitors.
Requirements to apply for Swift Money loan
Our simple requirements;
• Applicant must be 18+ years
• Be a UK resident
• Have a bank a/c.
• Be employed or have proof of income.
How to apply for swift money loan
You can apply for a swift money loan by visiting their website https://swiftmoney.com/… supply all the needed information. you can Receive Between £100 & £3500 Into Your Bank Account In As Little As 10 Minutes.
Also read: Best online loan apps in Nigeria to get quick and instant loan
2. Money Boat
Consumers in the United Kingdom turn to Moneyboat when they find they need cash quickly to tide them over until payday. you can get credit facility between £200 and £1500 with a flat interest rate of 0.7% per day
The lender offers direct loans of up to £800 for new customers and up to £1500 for returning customers… Loans are repayable over a minimum term of two instalments (could be weekly or monthly, depending on the date of the borrower’s payday) and a maximum of six months
This type of payday loans are repayable over a number of installments, so you can spread the cost of the credit over several paydays. This is part of our responsible approach to lending
Consumers in the United Kingdom turn to Moneyboat when they find they need cash quickly to tide them over until payday. you can get credit facility between £200 and £1500 with a flat interest rate of 0.7% per day
The lender offers direct loans of up to £800 for new customers and up to £1500 for returning customers… Loans are repayable over a minimum term of two installments (could be weekly or monthly, depending on the date of the borrower’s payday) and a maximum of six months
This type of payday loans are repayable over a number of installments, so you can spread the cost of the credit over several paydays. This is part of our responsible approach to lending.
Requirements to apply for Money Boat
As an FCA authorized lender, boat has a minimum lending requirements before beginning your online loan application:
1. You must be at least 18 years old
2. You must be in full or part-time employment
3.You must receive a minimum NET pay of £1000 per month
4. You must be a holder of a UK bank account and debit card
How to apply for Moneyboat payday loan
1.Fill in the free and easy, online application form
2. Eligibility Check
3.Sign and send back your loan agreement which will be sent to you via email subject to approval
4.Receive your cash directly into your UK bank account
Example: Borrow £400 for 4 months, four monthly repayments of £149.37. Total repayment £597.48, interest rate p.a. (fixed) 255.5%. Representative APR 939.5%.
Read: Banks and online lenders that offer Salary loan in Philippines
3. cashasap.co.uk
The cashasap offer a convenient way to access payday loans without any hidden costs First time customers are limited to a £400 loan…this limit can grow to £750 pending successful repayments and continued qualification for a cashasap.co.uk loan
Before applying for loans on this platform, ensure you go through their repayment terms to ascertain that you can afford the loan.
There are minimum criteria you need to meet to apply for a cashasap.co.uk loan. You must:
1.least 18 years old
2.be in full or part-time employment
3.be a UK resident with a UK bank account and a linked debit card
4.fully and honestly fill out our Application Form
5.have a working mobile phone and email address
6.be able to afford the repayments over the term of the loan
Interest and Fees
The only charge for a cashasap.co.uk loan that is repaid on time or early is the interest charged at 290% pa. The total repayment amount is based on the amount of credit plus interest, no other fees apply.
How to apply
to apply for cashasap.co.uk simply visit their website https://www.clearandfair.co.uk/ to follow on prompt message.
4. Viva Loans
Viva Payday Loans are brokers not a Lender. queries panel and provides you with a suitable route for your loan within just a few minutes. you can get a loan amount from £100 to £2,000 and be paid back over 3 to 6 months.
Viva Loans, help you find direct payday lenders who are willing to lend money to you at the cheapest interest rates (APRs). By filling in a common application form, you can explore dozens of loan opportunities – at no extra cost or hidden fees!
This kind of loan doesn’t require a guarantee, collateral or pledge and funds could be available to you within 1 hour, on the same day
Are you eligible to get a payday loan?
Unlike bank loans or cash credits, payday loan eligibility criteria are extremely broad and widely inclusive. To be eligible to get a payday loan, at the very minimum, you need to:
1. Be a legal UK resident.
2. Be 18 years of age or older.
3. Have a valid UK bank account, working phone and email.
The eligibility criteria will vary between each lender.
Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
5.THL Direct
THL Direct offer Payday Loan With No Upfront Fees.they are credit broker not a Lender you can borrow up to £150 to £3000. We’ll always advise you how much it will cost before you decide to proceed.
You masy also read: List of Best online Loan Apps registered in Philippines by securities and exchange commission.
6. Creditstar UK
Creditstar is a financial technology company that offers flexible consumer loans to private persons. Since being established in 2006.
First time customers can borrow up to £600 and pay it back between 30 days and 6 months. Returning customers can apply for higher loan limits.
Loan repayments are collected automatically and will be taken based on the payment date you selected during the loan application process.
7. Mr Lender
Mr Lender has a strong reputation as a leading provider of credit and in particular, for outstanding customer service. You must own a valid debit card that is linked to the bank account that you would like us to transfer your money into and take repayments from – which must also be the bank account your salary is paid into.
Mr lender will complete various checks to make sure the loan is affordable and that you’ll be able to keep up with the repayments. This includes performing a credit check to assess your credit history. You can check your credit file before applying for a loan by using agencies such as Clear Score, Experian and TransUnion.
The ‘representative’ APR is the highest rate that is offered to at least 51% of customers that are successfully funded. The rate you are charged may vary due to the length of the loan or your individual circumstances and affordability.
Things to consider before applying for Mr lender:
To be eligible to apply for a payday loan with Mr Lender, applicants must meet the following criteria:
1. You must be UK resident
2.Employed (part time or full-time) with a net income of at least £600 per month
3.At least 18 years of age
4.Valid debit card
5.Working mobile phone
6.Email address
8. Piggy Bank
Piggy Bank is a short-term loans provider, the offer loan amount up to £1500 for from 282% with up to 5 months duration. You can repay early to save on interest, or if you forget, they have a handy payment reminder service.
9. Quick Quid Payday Loan
The amount of money you can get is good, too, which is up to £1,500. New customers are limited to a maximum of £1,000. you can actually get your money within an hour.
10. Payday loans with Lending Stream
With Lending Stream, you can repay your loan over a longer period. You’ll get a fast decision and cash sent to your bank in 90 seconds if you’re approved.Depending on how much you are approved for, you may be offered a 12 month loan at Representative 325% APR
Lending Stream is a short term loan lender that allows you to apply for an alternative to payday loans online.
11.QuickQuid:
QuickQuid was one of the UK’s largest short-term loan providers. However, it’s essential to note that the company has ceased operations, and it’s no longer offering loans.
12.Sunny:
Sunny is a UK-based lender that offers short-term loans with a focus on transparency and flexibility.
Conclusion:
Please note that payday loans should be used with caution due to their high-interest rates, and it’s essential to understand the terms and conditions of the loan you’re considering.
Always consider alternative options, such as personal loans, credit cards, or seeking financial assistance from charitable organizations or government programs, before resorting to payday loans. Additionally, check the latest regulations and updates regarding payday lending in the UK to ensure that you are in compliance with all relevant laws
