Payday Loans Online

Payday loans online offer a short-term emergency cash injection of small amounts starting from £200 or £300 – where the entire process is online. 

There is no need to print off, fill in any forms or go to a branch or bank, since the entire application and decision process is handled online and if successful, the funds are transferred to your bank account within hours.

For those who have pressing emergencies such as car repairs, home repairs, medical bills or similar, the opportunity to apply for a payday loan online and receive funds in a matter of hours is very attractive.

Payday loans are best used for immediate emergencies so that you can receive the funds upfront, pay off your pressing bill, and restore some order at home. However, payday loans carry higher interest rates than typical credit cards or personal loans, so they are designed for short-term use and should ideally be paid off in full within a few weeks or months.

Common uses include:

>Car repairs

>Home repairs e.g plumbing, roofs

>Urgent home improvements

>Medical bills

>Funerals

>Pet bills

>Legal fees

Fully online – Applying for a payday loan online means that everything is completed online whether you use a desktop, mobile or tablet. There is no need to visit a store or branch, print off paperwork or wait for an answer in the post. Everything can be completed online from start to finish.

Speed – The speed of processes and funding is a huge benefit, with the application taking less than 5 minutes to complete and you can usually receive an initial decision within a few minutes. Your loan will usually be subject to further checks, and this may require sending in proof of income or employment. But overall, it is very common to be approved and funded on the same day or within a few hours.

Can cross-check details – When finding the best payday loans company, you are able to cross-check their details on the FCA register, read reviews and look at forums to see if it is the right fit for you. You can also use online comparison sites or cross-compare against other lenders or financial products.

Traditionally, borrowers would visit money shops, stores or branches to apply for a loan. However, this often meant queueing up, filling in paperwork at the branch, having to be face-to-face with people and waiting for a decision.

Using payday loans online means that you can be more discrete, but complete all the details from the comfort of your own home. There is no obligation to proceed. You can take your time to read through the terms and conditions and decide to go ahead at your own pace.

Also, the ability to use the Internet to compare options and terms from other borrowers is very convenient. Plus, you can check reviews and the license numbers of the lender online before you proceed.

Yes, online payday loans are available for people with bad credit, including CCJs. Whilst personal and unsecured loans are suited for those with good credit, it is assumed that payday loans are available for people with less than perfect credit scores. 

Perhaps you have missed the odd payment in the past, have had to take on additional credit or have very little credit to begin with. However, the processes and rates that payday lenders charge are able to accommodate all kinds of credit scores.

To apply for a loan with bad credit, you will need to be over 25 (some lenders accept 18), be a full-time UK resident and have a stable income and employment so that you can afford repayments. Your credit score will be considered during the decision process with each lender having a different minimum requirement.

Representative Example: £500 loan repayable over 12 months £81.25 per month total amount payable £975.00

Representative 295.60% APR fixed

 
Or use our calculator provided to see how much your loan would cost.

Founded in 2002, we have always had a passion for offering affordable finance to borrowers across the UK. As an FCA authorised firm, we are dedicated to responsible lending practices and treating customers fairly and we try to practice this in every aspect of our business.

By offering a payday loan alternative, we acknowledge the stress and pressure a typical payday loan online puts on borrowers to repay the loan and interest in full later that month. We are therefore pleased to offer a more flexible solution that allows you to repay over 6 to 24 months and spread repayments so that you have more breathing space.

You can start by entering your details into the online application form on the lender’s website. This usually takes less than 5 minutes and requests basic information including name, DOB, address, employment, income, loan amount, loan term and bank details (sort code and account number).

You will be asked to complete an online loan agreement which you can electronically sign.

After this stage, the lender will run a series of automated checks including a soft credit check and can give you an immediate decision shortly after. If approved, the lender will carry out some final checks and this may include a quick phone call to you and they may request further proof of income and employment.

Once fully approved and signed off, the funds can be transferred to your bank account, usually within a few hours. At The One Stop Money Shop, we are able to offer same day loans provided that your loan has been fully approved by 3:30pm that day.