How To Get a Same Day Loan

To get a same day loan, you should find an online lender and one that offers unsecured, personal or payday loans, since they are able to make automated decisions and provide a decision and funding within 24 hours. Applying early in the day and on a work day will maximise your chances if you need a same day loan – since most lenders stop processing applications after a certain hour of the day and do not fund on weekends.

At The One Stop Money Shop, loans that are fully approved before 3:30pm are normally paid into your bank account the same working day.

Same day loans are designed for situations that can’t wait, such as a broken boiler, an urgent car or household repair. If you need money quickly, our urgent same day loans and quick loans can help, but it’s important to understand how they work and what they cost before you borrow.

The One Stop Money Shop – Key Features

• Borrow £400-£2500
• Repay over 6-24 months
• Direct lender
• Bad credit considered
• Fully online
• Funded same day if approved by 3:30pm

Representative Example: £400 loan repayable over 12 months £65 per month total amount payable £780

Representative 295.60% APR fixed

 

What Are Same Day Loans Used For?

Our same day loans are best used for emergencies and a short term repayment timeframe, because the speed and convenience may come at a slightly higher cost. Common reasons include:

• Pressing bills
• Paying rent
• Household repairs (roofs, toilets, boilers, leaks, flooring)
• Paying medical bills for you or your children
• Funeral costs
• Car repairs
• Car tax and insurance
• Council tax

 

 

What is the Eligibility for a Same Day Loan?

To be eligible for a same day loan, you’ll normally need to be a UK resident with a regular income, a UK bank account and enough money left over each month to afford the repayments. Each lender sets its own rules, and some ask for more than the legal minimum.

To apply with The One Stop Money Shop, you’ll need to:

• Be aged 22 or over
• Live in the UK
• Have been in employment for at least six months
• Hold a UK bank account with a valid debit card
• Have a UK mobile number and email address
• Be able to afford the monthly repayments after your essential spending

Every FCA-authorised lender also has to carry out an affordability check before lending. This means looking at your income, regular outgoings and existing debts. If the repayments wouldn’t be manageable, a responsible lender will turn your application down, even if you meet every other requirement.

Having your bank details, debit card and employment information to hand before you start will help you avoid delays, which matters when you’re up against a same-day cut-off.

 

What Are the Different Types of Same Day Loans Available?

The main ways to borrow money on the same day in the UK are same day instalment loans, payday loans, bank overdrafts, credit card cash withdrawals, credit union loans, salary advances and guarantor loans. Some pay out within minutes, while others can take a day or more, so the fastest option isn’t always the cheapest.

Same day instalment loans are paid into your account on the day you’re approved and repaid in equal monthly amounts. Spreading the cost over several months makes each repayment smaller than with a traditional payday loan. Find out more about our instalment loans.

Payday loans are short-term loans traditionally repaid in one go on your next payday. They’re quick to arrange, but finding the full balance plus interest from one wage packet can be difficult.

Arranged overdrafts can be the quickest option if you already have one, because the money is available instantly. Applying for a new or bigger overdraft may take longer, and overdraft interest can still be expensive.

Credit card cash withdrawals give you instant cash from an ATM. However, you’ll usually pay a cash handling fee, and interest is charged from the day you withdraw, often at a higher rate than for purchases.

Credit union loans are among the cheapest ways to borrow if you’re a member. Credit unions are not-for-profit, and the interest they can charge is capped by law. Some can pay out quickly, but many take a few days to process applications.

Salary advances let you access part of the wages you’ve already earned before payday. They’re only available if your employer offers a scheme, and there’s usually a small fee per withdrawal.

Guarantor loans require a friend or family member to agree to repay if you can’t. They can help if your credit is poor, but checks on both of you mean they’re rarely paid on the same day.

 

Option	How fast you get the money	How you repay	Typical cost	Credit check?	Repayment for £300 over 90 days
Same day instalment loan	Same working day if approved before the cut-off	Monthly, over 6–24 months	High, within the FCA price cap	Yes	£345
Payday loan	Same day or next working day	Usually one repayment on payday	High, within the FCA price cap	Yes	£345
Arranged overdraft	Instantly, if already in place	Flexible, as money comes in	Varies by bank, often around 35%–40% APR	Yes, when applying	£328
Credit card cash withdrawal	Instantly at an ATM	Monthly minimum payments	Cash fee plus high interest	Already done when the card was issued	£337
Credit union loan	Often 1–5 working days	Monthly	Low, with a legal cap	Yes	£310
Salary advance	Often within minutes	Deducted from your next pay	Small fee per withdrawal	Usually no	£303
Guarantor loan	Usually 1–3 working days	Monthly, over 1–5 years	Moderate to high	Yes, on both people	£310

Note: Repayment figures are illustrative examples only. Actual costs depend on the lender, APR, fees and repayment terms; not all options offer a 90-day term.

 

How Much Does a Same Day Loan Cost From The One Stop Money Shop?

How much a same day loan costs depends on the amount you borrow and how long you take to repay, but under FCA rules you’ll never repay more than twice what you borrowed. Since 2015, high-cost short-term loans have been subject to an FCA price cap:

• Interest and fees can’t exceed 0.8% per day of the amount borrowed
• Late payment or default fees are capped at £15
• The total cost, including interest and charges, can never be more than 100% of the loan amount

The table below shows what some typical loans from The One Stop Money Shop could cost:

Illustrative examples. The £500 and £600 examples are The One Stop Money Shop’s published representative examples. Your exact rate and repayments will be shown before you sign your agreement and depend on your circumstances.

Same day loans are an expensive form of credit, so they’re best used for genuine emergencies rather than everyday spending. You can reduce the cost by borrowing only what you need, choosing the shortest term you can comfortably afford, and repaying early if your finances allow. You only pay interest for the time you have the money.

 

How Can You Help Avoid Delays?

There are a few practical steps that may help your application progress smoothly.

Provide accurate information. Check that your personal details, income, employment information and bank details are correct before submitting your application.

Have relevant information available. You may be asked for supporting documents or additional details during the application process.

Respond promptly to requests. If the lender needs clarification or additional information, responding quickly may help avoid unnecessary delays.

Apply in good time. If you need funds for an upcoming expense, do not assume that approval and payment will happen immediately.

Most importantly, do not allow the promise of quick access to money to distract you from checking whether the loan is affordable.

 

Can I Get a Same Day Loan From a Direct Lender?

Yes, you can get a same day loan from a direct lender (see payday loans direct lender), which is a company that assesses your application and pays the money into your account itself. This is often the quickest route to same-day funding, because there’s no middle step of passing your details between companies.

When you apply through a credit broker, your application may be shared with several lenders before one makes an offer. That can add time, and you may then be contacted by companies you didn’t apply to directly. With a direct lender, there’s one company from start to finish, and its name appears on your credit agreement.

The One Stop Money Shop has been a direct lender since 2005. We make every decision ourselves and never pass your application to other lenders.

 

Can I Get a Same Day Loan With Bad Credit?

Yes, you can get a same day loan with bad credit, as many direct lenders focus on whether you can afford the repayments now rather than on problems in your past. A low credit score, missed payments or a County Court Judgment (CCJ) won’t automatically lead to a rejection.

What matters most is a stable income and a budget that leaves enough room for your repayments. If your situation has improved since your credit problems, for example through steady employment or paying off old debts, that can work in your favour.

The One Stop Money Shop considers applicants with poor credit and CCJs. Find out more about our loans for people with bad credit.

To improve your chances:

• Check your credit report for mistakes before applying
• Borrow only what you need, rather than the maximum available
• Avoid applying to lots of lenders in one go, as several hard searches can lower your score
• Give accurate details about your income and outgoings, as inconsistencies can slow things down

 

Can I Get a Same Day Loan With No Credit Check?

No, you can’t get a same day loan from a genuine UK lender with no credit check at all, because FCA rules require every authorised lender to check your creditworthiness and affordability before lending. If a company advertises “no credit check” loans, it’s either using misleading wording or isn’t operating legally.

Many lenders start with a soft search, which shows whether you’re likely to be accepted without leaving a visible mark on your credit file. If you go ahead, a hard search is usually carried out before the loan is approved, and this will appear on your credit report.

Be very cautious of anyone offering money with no checks, especially if they contact you out of the blue. Unauthorised lenders, often called loan sharks, don’t follow the FCA’s price cap and may use threatening collection methods. You can check whether a lender is authorised on the FCA Financial Services Register.

 

Where Can I Get a Same Day Loan in the UK?

You can get a same day loan in the UK from FCA-authorised direct lenders, credit brokers, banks and building societies, credit unions and employer salary advance schemes. Here’s how they compare when speed matters:

• Online direct lenders: Usually the fastest option if you need cash today. Many can make a decision within hours and pay the same day by Faster Payments, provided your loan is approved before their cut-off.
• Credit brokers: These can show you offers from several lenders, but sharing your details may add time, and some brokers charge fees.
• Your own bank: If you already bank with them, an existing overdraft or a small personal loan may be quick to arrange. Most banks prefer lending larger amounts and often require good credit.
• Credit unions: They offer some of the lowest rates, with interest capped by law, but you’ll need to be a member. Same-day payouts aren’t guaranteed.
• Salary advance schemes: These are fast and low-cost if your employer offers one, but you can only access wages you’ve already earned.

Whichever route you choose, always check that the company is FCA authorised before you apply.

 

Why Choose One Stop for a Same Day Loan?

You can choose The One Stop Money Shop for a same day loan because we’re an FCA-authorised direct lender that makes fast decisions and usually pays approved loans the same working day.

• Direct lender since 2005: We assess and fund every loan ourselves
• FCA authorised: The One Stop Money Shop Ltd is authorised and regulated by the Financial Conduct Authority, registration number 713424
• Quick decisions: Most applications are decided within one to two hours
• Same-day payouts: Loans fully approved before 3:30pm are usually paid the same working day
• Borrow £400 to £2,500: Based on your income and affordability
• Spread the cost: Repay in equal monthly instalments over 6 to 24 months
• Bad credit and CCJs considered: We look at your current circumstances
• Free to apply: There are no fees for applying

 

 

FAQs

Is the application online?

Yes, the application is completed online and usually takes just a few minutes. You’ll provide details about yourself, your employment, your income and your bank account. If your loan is approved, you’ll review and sign your credit agreement electronically.

Can I get a same day loan at the weekend?

You can apply at the weekend, but the money is usually paid on the next working day. Lenders process same-day payments during business hours, so applications approved on a Saturday, Sunday or bank holiday are normally funded on the following working day.

Do I need a guarantor to get a same day loan?

No, you don’t need a guarantor for a same day loan from The One Stop Money Shop. We base our decision on your own income, outgoings and circumstances. A guarantor loan is a product typically for larger amounts (£1,000-£15,000) and is from specialist guarantor lenders.

Are same day loans unsecured?

Yes, most same day loans are unsecured, so you don’t need to put up your home, car or other belongings as security. Loans secured against property or a vehicle usually take longer to arrange, because the asset needs to be valued.

How long does it take for a same day loan to be approved?

Most same day loans are approved within a few hours. At The One Stop Money Shop, most decisions take one to two hours. If we need extra information, such as proof of income, it can take a little longer, so it’s best to apply as early in the day as possible.

How do I know if a same day loan offer is a scam?

You can usually tell a loan offer is a scam if you’re asked to pay a fee before receiving the money. Genuine lenders never charge upfront fees to release a loan. Other warning signs include:

• Guaranteed approval without any checks
• Requests to pay by bank transfer to a personal account, gift cards or cryptocurrency
• Pressure to accept an offer immediately
• Unexpected calls, texts or social media messages offering loans
• No FCA reference number, or contact details that don’t match the FCA Register

If you’re unsure, read our guide on how to know a payday lender is legitimate.

What happens if I can’t repay?

If you miss a repayment, you may be charged a default fee of up to £15, and the missed payment will be reported to the credit reference agencies, which can lower your credit score. The FCA price cap means you’ll never repay more than double what you borrowed.

Contact your lender straight away if you’re struggling, as they must treat you fairly and consider options such as a reduced repayment plan. You can also get free, confidential debt advice from StepChange.