The Best Payday Loans in the UK – TOP 10

Have you ever felt cash-strapped? Or as if you’d never be able to make that credit card or energy bill payment? Well, help is at hand for those feeling unfortunate. We’ve compiled a list of the payday loans we feel will give you the best value. Before thinking about even getting a payday loan, always read the small print, understand what your interest rate will be on top of paying the money back, and work out how you will be able to repay the money back, and pay on time.

Here are our top ten recommended Payday loans and short-term loans to choose from:

THL Direct

THL Direct offers quick, short-term loans from £125 to £500 with 0.8% daily interest on the amount you borrow. No upfront fees, late fees, late Interest, or default fees. Although first time borrowers can only get £125. Funds are paid directly from THL Direct into your bank account. They also offer the choice of repaying your loan weekly or monthly.

£125 to £500

Amount

3 months

Duration

292%

Rates

REPRESENTATIVE EXAMPLE: £200 loan taken out over 3 Months (83 days). Annual rate of interest 292% fixed. Cost of credit £113.08. Monthly Payments: £104.36, £104.36 and £104.36. Total amount payable: £313.08

Sunny

Sunny provides fast and flexible loans from £100- £2500, rated excellent 9.1 Trustpilot. You save interest if you repay early, and have 5 days to change your mind when you receive money. They have a UK based, customer support open Monday to Sunday office hours.

up to £2500

Amount

up to 12 months

Duration

from 292%

Rates

REPRESENTATIVE EXAMPLE: £100 loan taken for 6 Months. Annual rate of interest 292% fixed. 6 repayments of £33.13. Total amount payable: £198.75.

Lending Stream

Lending Stream started out in 2008, providing short-term loans for a 6 month repayment period. Their customers are from all around the UK and the average age is 32. However, they don’t provide payday loans as they feel if the loan can’t be paid back on payday, then the customer could be in worse debt. They use a mix of reviewing individual cases, powerful data analytics and precious credit scores to approve loan applications.

up to £1500

Amount

up to 6 months

Duration

from 292%

Rates

REPRESENTATIVE EXAMPLE: £200 loan taken for 6 Months. Annual rate of interest 292% fixed. 6 repayments of £64.44. Total amount payable: £386.61.

Creditstar UK

Creditstar is a payday loans company who claims applications take no more than 10 minutes and approval in less than an hour. First time users can borrow up to £300 and returning borrowers can borrow up to £700, repaying back over a period of up to 6 months.

up to £700

Amount

up to 6 months

Duration

from 274%

Rates

Representative example: Amount of credit: £300 over 4 months. Interest: £170.45. Interest rate: 274%pa (fixed). Repay with 4 payments: 1st payment £142.50, 2nd payment £125.63, 3rd payment £109.88, 4th payment £92.44. Total amount payable: £470.45.

Myjar

Myjar is a short-term loan provider with an eye-appealing website to suit. They started in 2008, have approved of over 2 million loans and lent over £500 million to happy customers. It allows people to borrow money according to what sort of repayment plan they have. The loans can range from £900 over a period of 3 months to up to £7200 over 2 years. They have a 9.1 out of 10 rating according to Trustpilot.

up to £2000

Amount

up to 12 months

Duration

from 274%

Rates

Representative example: Borrow £300 for 3 months. Annual interest rate 274% (fixed). Repay in 3 instalments of £148.02 each. Total amount to repay £444.06.

Cashfloat

Cashfloat are a responsible direct lender of payday loans who have helped over 100,000 happy customers. They focus on customers with a previous bad credit score looking to improve, and making sure it’s affordable for the customer. They also have a state-of-the-art ‘Money on Demand’ app so customers can manage their money and repayments on the go.

up to £1500

Amount

up to 6 months

Duration

from 226%

Rates

Representative example: Borrow £500 for 4 months. First monthly repayment of £172.09. Second and third monthly repayments of £229.45 Fourth monthly repayment of £114.75. Total repayment £745.74, interest rate p.a. (fixed) 226%.

Mr Lender

Mr Lender is a competing short-term loans company with a 9.6 rating on Trustpilot. They also won ‘Customer Service Champion’ in the 2018 Consumer Credit Awards, demonstrating how good they are. With Mr Lender there are no upfront fees for taking out a loan, and there are no late fees for missing payments. They also have a blog which has frequent articles about saving money, responsible lending and other financial posts of interest. Sounds almost too good to be true!

up to £1000

Amount

up to 6 months

Duration

from 292%

Rates

Representative example: Borrow £200 for 6 months, Borrow £200 for 6 months, repay with 6 payments: payment 1 – £81.33; 2 – £73.23; 3 – £65.13; 4 – £57.33; 5 – £49.24; 6 – £41.14. Total repayment £367.40. Interest rate p.a. 292%. (fixed).

QuickQuid

Quickquid is a partner loans company to Pounds to Pocket and specialise in shorter term loans. They allow customers to get a preapproved loan in minutes. A useful feature not previously seen on other loans website is their live webchat, if a customer needs help or support. This is available during office hours, Monday to Sunday. Quick Quid encrypts your sensitive data via Secure Socket Layer (SSL) so none of your confidential data is sent to third parties.

up to £700

Amount

up to 3 months

Duration

from 274%

Rates

QuickQuid is no longer accepting applications for new or existing customers.

Piggy Bank

Piggy Bank is a short-term loans provider. They have a useful FAQ on its homepage to answer all common questions and queries. You can repay early to save on interest, or if you forget, they have a handy payment reminder service. Their customer support is open Mon-Sat office hours.

up to £1500

Amount

up to 5 months

Duration

from 282%

Rates

PiggyBank no longer provides new loans.

Peachy

Peachy is a direct lender who offers short-term loans from £100 – £1000 to cover emergency cash flow for their customers. You can apply online on your phone, tablet, PC and in many cases it will deposit the cash to the person in an hour. Peachy short term loans can be paid from 1 to 12 months.

up to £1000

Amount

up to 12 months

Duration

from 274%

Rates

There will be no new lending activity

Updated: 01.09.2022

There are a variety of payday loans and short-term loans companies to choose from. Most of them doesn’t require upfront fees and some of them offer early repaying option allowing to save on interest. Offering 7-day customer support and manageable repayment time frames, you can see why they are very popular ways for emergency cash when the going gets tough. We recommend you to contact them directly before taking out the loan.

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