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Instant Loans

Searching for an instant loan? If so, you’re amongst a growing number of consumers seeking a fast solution to a temporary financial strain. Spanning over a short time period (typically between 1 and 6 months) instant loans involve an online application and an almost instantaneous. If approved, the funds will typically be with you on the same day.

Also referred to as Payday-, quick- and bad credit loans, this form of finance is a fast, efficient solution for those who find themselves in an unexpected financial bind.

Find out your loan options with CashLady - Apply here
Instant Loans with CashLady

What is an instant loan?

Instant loan is a fast form of short term credit. Instant loans are typically used by consumers who need a quick injection of cash to help them out of a financial crisis.

Instant loans have become increasingly popular in recent years, rising from 1.2 million loans approved in 2009 for a total amount of £1.2 billion, to 4.1 million loans as of 2012, and a total amount of £2.2 billion.

Our instant loan process involves an application, undertaken online - it can even be completed by smartphone.

Representative Example of a Typical Instant Loan
Representative APR: 1272% APR
Amount borrowed: £250 for 3 months
Number of repayments: 3
Interest rate p/a: 292% (fixed)
Each repayment amount: £137.21
Total amount repayable: £411.63

You can discover how instant loans work in detail in our in-depth guide: How do CashLady Loans work? In this guide you’ll find out how APR works, what charges apply and how CashLady instant loans are repaid.

What are the benefits of instant loans?

the name suggests, instant loans are incredibly quick. As such they can be used to cover a range of financial emergencies, such as:

  • A late bill – especially critical outgoings such as utility bills, rent, council tax or car payments
  • A bill for medical treatment
  • Paying for a funeral
  • Repairing your vehicle
  • Repairing your home
  • Repairing a home appliance
  • Covering a period of income shortfall
Find out more about the benefits of instant loans here

The advantages of using an instant loan include:

  • Same day access to funds (even if you have a blemished credit history)
  • Fast approval
  • A chance to begin repairing your credit
  • A flexible form of finance so you can borrow what you need, over a period that ensures your repayments are affordable
  • A predictable, set outgoing each month – and a payment that you will be aware of beforehand. Use our loan affordability calculator below to gain an understanding of what this amount may be.

What are the alternatives to instant loans?

The timescales for application approval and fund availability for an instant loan aren’t generally equalled by any other form of finance. This is especially since the alternatives often require identification and other documents.

However, there are other financial products that you may want to consider – even if only to rule them out and ensure you’re making the right choice for your circumstances and your finances.

An overview of instant loan alternatives

Type of finance Typical time period Amount that can be borrowed Secured against an asset? Secured against an asset?
Logbook loan 12 months – 5 years £250 - £50,000 Yes – secured against your car No
Personal loan 12 months – 5 years £1,000 - £25,000 Not normally Yes – and they’re tougher to quality for
Homeowner loan 5 years – 25 years £3,000 - £250,000 Yes – secured against your home Yes
Guarantor loan 12 months - 5 years £500 - £10,000 No Yes
Payday loan 1 month £80 - £500 No Yes
Short-term loan 1 to 6 months £80 - £500 No Yes

Read more about each of these alternatives to instant loans in our guide: What are the alternatives to instant loans?

How you can avoid instant loans

Your bills are rising, your income is likely falling,and you’re far from alone. Like you, millions of consumers are feeling the squeeze. As illustrated by the graph below, UK households are in it together when it comes to income that is stagnating, and outstanding credit that is rising.

You almost certainly should avoid an instant loan if you’re in a cycle of debt and are struggling with credit repayments. If you’re unsure as to whether you’re facing credit troubles, consider whether the following warning signs apply to your situation.

Make sure you can repay your credit before applying for an instant loan

If you’re suffering from the effects of debt and are concerned that an instant loan may not be the best choice for you, you should:

  • Read our How to Avoid Debt guide.
  • Speak with your creditors and address your debt head on – your creditors are legally obliged to consider any offer of repayment.
  • Create a budget of income and outgoings (for a guide on completing a budget head over to our How to avoid instant loans page).
  • Contact an outside agency, such as the MoneyAdviceService or the Citizens Advice Bureau for impartial advice on moving forwards.

How to apply for instant loans through a broker

To apply for an instant loan you need to be a UK resident, aged 18 or over. You should also be in either full- or part-time employment. Finally, we generally require that instant loan applicants are earning a minimum of £500 per month (this level of income helps to ensure the loan obligation can be met).

When you apply through a credit broker, you’ll need various pieces of information to hand, as listed below.

  • Your home address
  • Your employment details (such as your employer’s name, address and contact details)
  • Your contact details (such as your email address and mobile number)
  • A breakdown of your outgoings
  • An email address to which you have access
  • An internet enabled smartphone or touchscreen device
  • A debit bank account

What is the application process for instant loans

Discover how CashLady connects you with the best lenders in the market by watching the video below.

instant loans with CashLady optimal lender selection process video

If you apply for an instant loan through CashLady, our partners may alternatively offer you another form of finance – alongside or instead of an instant loan. This may be:

  • A 1-6 month short term loan
  • A line of credit
  • A guarantor loan

Where can I get an instant loan?

CashLady’s panel of lenders provide instant loans of between £80 and £2000. Yet there are multiple players in our industry. So the question is - why should you use our services?

CashLady's panel of 15 quick loan lenders provide instant loans of up to £2000

For almost ten years, we’ve been providing UK consumers with instant funds just when they need them most. We are committed to treating customers fairly, to being transparent and to always meeting the stringent FCA guidelines for our industry. We are registered with the ICO and we’ve won prestigious awards for the way in which we work, including being a finalist in the Consumer Credit Awards 2017, and being named Best Credit Broker 2016 by Smart Money People.

Instant loans online

We’re here – for your questions, queries and to help you make sense of instant loans (whether first time applicant or seasoned user). Speak with our team about whether instant loans online are suitable for you, read our instant loan FAQs or use our live chat facility for the answers you need.

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Short Term Loan Charges

Loan Amount (£):  

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Representative 1272% APR
Representative Example
Amount borrowed: £250 for 3 months
Number of repayments: 3
Interest rate p/a: 292% (fixed)
Each repayment amount: £137.21
Total amount repayable: £411.63
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