Compare Payday Lenders

We've done the hard work and compiled a list of all the UK Payday lenders in an easy to read table.

Consumers looking for the best payday companies in the UK have many choices to compare offers by lenders in the sector.

Short-term credit comparison websites work by matching the details they receive from users to the offers currently available from competing companies.

Scroll down for a comparison table of FCA approved payday lenders

Comparison sites have long been established in other financial sectors. These include insurance, mortgages and longer-term loans.

We have compiled a list of the most reputable Financial Conduct Authority-approved payday lenders.

All these companies can provide consumers with a loan based upon their own financial and personal circumstances.

To show you typical loan offers made by these companies, we have carried out some research. The goal of which is to allow you to compare payday lenders without necessarily having to make an application to one of them.

As part of our research, we’ve compiled the following list of short-term credit providers in the UK. We have organised them by:

  • the  length of time a consumer could pay back their loan
  • the APR offered
  • amounts available
  • the repayment for each £100 borrowed.

Compare loan prividers using the payday lender comparison table

 

Lender

Loan Amount

Loan Term

Repayment for £100

SafetyNet Credit logo

Minimum 100 Maximum 500

Minimum Term No Min. Maximum Term No Max.

0.8%

Representative APR

68.7%

See Deal More Info

Onstride Financial Logo

Minimum 200 Maximum 2000

Minimum Term 6 Months Maximum Term 12 Months

112.50%

Representative APR

315.4%

See Deal More Info

QuickQuid Logo

Minimum 100 Maximum 1000

Minimum Term 1 Month Maximum Term 3 Months

0.8%

Representative APR

1300.5%

See Deal More Info

Mr Lender

Minimum 100 Maximum 1000

Minimum Term 1 Month Maximum Term 6 Months

124%

Representative APR

1239.2%

See Deal More Info

MyJar

Minimum 100 Maximum 3600

Minimum Term 3 Months Maximum Term 12 Months

124%

Representative APR

1081%

See Deal More Info

lending_stream_logo_purple

Minimum 50 Maximum 1500

Minimum Term 1 Month Maximum Term 6 Months

124%

Representative APR

1333%

See Deal More Info

Wageday Advance

Minimum 80 Maximum 750

Minimum Term 21 Days Maximum Term 57 Days

£124

Representative APR

1223.6%

See Deal More Info

Satsuma Loans

Minimum 100 Maximum 1000

Minimum Term 3 Months Maximum Term 12 months

143.1%

Representative APR

535%

See Deal More Info

118 Money Logo

Minimum 1000 Maximum 5000

Minimum Term 12 Months Maximum Term 24 Months

124%

Representative APR

99.99%

See Deal More Info

Ferratum Lender logo

Minimum 50 Maximum 700

Minimum Term 1 month Maximum Term 4 months

124%

Representative APR

1270%

See Deal More Info

CashFloat Logo

Minimum 200 Maximum 1100

Minimum Term 1 month Maximum Term 4 months

122%

Representative APR

997%

See Deal More Info

onstride financial

Minimum 50 Maximum 5000

Minimum Term 6 months Maximum Term 36 months

%

Representative APR

311.3%

See Deal More Info

Why do you need to compare payday loan offers?

You need to compare payday loan offers to make a decision that’s informed and right for you.

If you take out a short-term loan, you should do so responsibly. You should also be certain that you can meet your loan repayment obligations.

It is important to perform a full payday loan comparison. This is because the cost of credit might be affordable from one payday company but not another.

Without taking their time to find the right solution for you, you may end up paying more than you need to. What’s more, you could find yourself getting into financial difficulty later on.

What information should you consider before applying for a loan?

The important information you should consider before comparing payday loans is:

  • how much you are going to pay backYou should consider if you can afford a loan before applying
  • when you have to pay it back
  • whether it’s affordable for you.

High-cost credit options are not designed as a long-term financial solution.

They are there to help out in emergency situations that you may not have budgeted for, like:

  • a car breaking down
  • funeral expenses
  • replacing white goods for the home.

If you feel that you are in financial difficulty, you should contact the Money Advice Service.

Applicants for a payday loan should:

  • only borrow the exact amount of money they need for the situation they find themselves in
  • look at the pros and cons of any offers made by a lender so that they secure themselves the best deal for them.

Aspects to consider include the cost per £100 borrowed and any extra fees.

For example:

  • application fees
  • default fees
  • early repayment fees

It’s important to consider every potential and applicable charge involved in taking out money until the following payday.

How do you know if a loan repayment is affordable?

You will know if a loan repayment is affordable if you can comfortably meet the repayments within your monthly budget. A monthly budget is for working out the spare cash you have after all your regular bills have been repaid.

If you find meeting a repayment might put you in further financial difficulty, consider taking out a longer-term loan instead. For example, between 2 months and 6 months.

While you will pay back more in interest over a longer-term loan, you will be able to afford the repayments without unnecessary hardship

payday loan application button

What features make a payday loan best for you?

Features that make the best payday loan option are:

  • Quick access to the cash required. Money is transferred into a borrower’s accountant within minutes of the loan approval and the paperwork signed
  • No hidden fees and charges. Under FCA rules, all fees and charges you may have to pay must be available in advance
  • Early repayment. Many payday lenders allow you to pay off your loan early. This means the amount you pay in interest for your loan decreases
  • Capped repayments. You can never be charged more in fees than the amount of the loan you take out. For example, if you take out a £500 loan, you will never pay back more than £500 on top of the loan in interest, fees, and charges.

The need to follow these rules is now extended to 2020, according to a report by Money Marketing.

Should I look at payday loan comparison for direct lenders only?

This is not a “yes” or “no” answer.

You should always compare direct lenders if you want to get the best offer for you.

If you have your mind set on applying directly with a lender, choose carefully using the table above for comparison.

Only applying directly to one lender may put you at a disadvantage. The best payday loans for bad credit are often found by using a credit broker service, like CashLady.Applying directly to only one loan provider could put you at a disadvantage

With a broker, you complete a single application form.

The broker will take that information and share it with their panel of lenders. A panel of lenders are the credit providers a broker will introduce a borrower to.

A hard credit search is not usually performed when you use a broker. The credit broker will then come back to you with an offer from a lender they believe offers the best option with the best terms.

If approved and if you would like to proceed with your application, the lender will usually perform a credit search.

Brokers like CashLady do not charge a fee for their services. When you apply through a broker, the interest charges you pay will be the same as if you had approached the lender directly.

Brokers are paid by their panel of lenders for each enquiry they present. This is regardless of whether you take out a loan or not.

Compare Payday lenders on CashLadyHow to compare payday loans for bad credit?

You can compare the best payday loans for bad credit by using the table above. Yet it’s important to know that each lender has their own “profile” when it comes to choosing the applicants they want to lend money to.

A “profile” contains details like:

  • preferred credit scores
  • preferred spare cash at the end of each month
  • what level of missed payments they’re happy to accept

If you apply to many loan providers, it may take you multiple attempts to find a lender whose profile matches your circumstances.

This creates another issue. Each lender will do their own credit search. The more credit searches there are on your file, the less likely a lender is to want to advance you money until your next payday. That is even if you fit their target profile.

Brokers know each lender’s preferred profile. So, they will be able to send your application to the most suitable short-term credit company when they have your details.

Compare payday loans with no credit check?

Comparing payday loans with no credit check involved is a sensible move. Yet you will have trouble finding a reputable lender prepared to do this for you.

You should take care only to deal with Financial Conduct Authority-licensed lenders and brokers.

As part of their commitment to responsible lending, any licensed lender or broker must carry out credit checks as part of your application with companies like Experian and CallCredit.

 Payday lender comparison – Summary

You can compare payday lenders yourself.

But, it will take time and, because you can’t be sure if a lender you apply to will say “yes”, you might end up not getting the loan you need. What’s more, you will have a number of recent searches on your credit report.

You can use the table showing different offers from many loan providers on this page.

Or, you can apply to a broker like CashLady to provide you with the payday loan comparison you want. These are only from the best payday lenders who are happy to have you as their customer.

Find out More in our Payday Guides