£500 Loans Online
£500 loans have grown in popularity in recent years. You can apply for a £500 payday loan via Payday UK and we will find the best deal from our brokers panel of lenders.
£500 Loans with an Instant Decision.
£50 to £5,000 loans available today
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Applying to borrow £500 via Payday UK is quick and straightforward. Our user-friendly system means you’ll get an instant decision. We do everything we can to ensure you get the best deal in the shortest possible time.
We understand how stressful it can be when you’re suddenly faced with an unexpected bill that’s going to leave you short. That’s why we get the money into your bank as quickly as we can, allowing you to carry on.
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thousands of people...
£200 for Natalie in Lincolnshire
£200 for Vincent in Southport
£200 for Jane in Culross
£500 for Anna in Launceston
£50 for Neil in York
£500 for Stuart in Worthing
£350 for Danielle in Bradford
£1000 for Martin in Lincolnshire
£400 for Anthony in London
£600 for Elizabeth in Lockerbie
£1500 for Mary in Motherwell
£200 for Carly in Manchester
£200 for Michael in London
£100 for Harley in Folkestone
£1000 for Rashid in Manchester
£300 for Hanif in Birmingham
£1500 for Samuel in Harrogate
£400 for Louis in Folkestone
£1000 for George in Bromley
£400 for Jessica in Huddersfield
£300 for Anish in Essex
£300 for Glen in Dereham
£200 for Bartosz in Yeovil
£300 for Michael in Stirlingshire
£500 for Chanelle in Bradford
£300 for Mark in Guildford
£2000 for Mohammed in Smethwick
£250 for Louisa in Croydon
£300 for Judy in Islington
Will I be Approved?
The online Eligibility Checker is free and takes 60 seconds. Find out if you’ll be approved with no credit footprint.
Check Eligibility£500 Loans
Need to borrow £500 for an unexpected expense? PaydayUK connects you with FCA-regulated lenders who specialise in £500 loans for UK residents. Our industry-leading panel gives you access to multiple lenders through one quick application, and our soft credit check technology means checking your eligibility won’t affect your credit score.
Over 1 million customers have used PaydayUK since 2020. We process more than 7,500 no-obligation loan quotes every single day.
Whether you’re facing a car repair, boiler breakdown, or an unexpected bill, a 500 pound loan can provide the breathing space you need. With repayment terms from 3 to 6 months and same-day funding for approved applications, you can get the money you need when you need it most. Best of all, PaydayUK charges absolutely no fees. Our service is completely free.
Our clever tech instantly searches our panel of trusted lenders to find you the best available options. You’ll see which lenders can help within minutes, and you’re under no obligation to accept any offer. All our lenders are FCA-authorised and follow strict affordability checks.
Why choose PaydayUK:
● Soft credit check only, won’t affect your score
● No fees from PaydayUK
● Industry-leading panel of lenders
● Same-day funding if approved
What Are £500 Loans?
A £500 loan is a short-term borrowing option designed to help you cover moderate unexpected expenses. These loans typically range from 3 to 6 months in repayment terms, though some lenders offer flexibility up to 12 months for this amount.
They’re particularly useful when you need more than a small emergency fund but don’t require the commitment of a larger personal loan.
At PaydayUK, we’re a credit broker rather than a direct lender. This means we don’t lend money ourselves. Instead, we use our technology platform to search our panel of FCA-regulated lenders and match you with those most likely to accept your application.
This saves you time compared to applying to multiple lenders individually. It also protects your credit score through our initial soft search process.
Common reasons people need a £500 loan include:
● Car repairs that can’t wait until payday
● Boiler breakdowns during winter months
● Unexpected veterinary bills
● Essential home repairs like broken washing machines
● School uniform and equipment costs
● Bridging the gap between paycheques
● Emergency travel to visit family
● Dental work not covered by the NHS
Unlike £100 loans or £200 loans which cover smaller emergencies, a £500 amount gives you enough to handle more substantial unexpected costs. You also keep total interest charges lower than borrowing larger sums you don’t actually need.
How £500 Loans Work Through PaydayUK
Getting a loan for 500 through PaydayUK follows a straightforward process designed to be quick and transparent. Here’s exactly what happens when you apply.
Step 1: Complete our online application. Fill in your details on our secure form. This takes about 2 minutes and asks for basic information like your income, employment status, and how much you want to borrow.
Step 2: Soft credit check. Our panel of lenders performs a soft search to assess your eligibility. This means checking if you qualify won’t leave a mark on your credit file that other lenders can see. Your credit score remains completely unaffected.
Step 3: See your matched lenders. Within minutes, you’ll see which lenders from our panel are willing to offer you a £500 loan. You can compare the rates, repayment schedules, and total amounts repayable side by side.
Step 4: Choose your preferred lender. Review all the options carefully. Look at the monthly payment amount, the total you’ll repay, and the APR. If none of the offers suit you, walk away with no obligation and your credit score intact.
Step 5: Complete the full application. Once you select a lender, they’ll perform a full credit check. This will appear on your credit file, but you’ll already know they’re likely to approve you based on the soft search.
Step 6: Receive your funds. If approved, most lenders transfer the £500 to your UK bank account the same working day. Some customers receive funds within an hour.
This process gives you the advantage of shopping across multiple lenders without damaging your credit score.
How Much Does a £500 Loan Cost?
The cost of borrowing £500 depends on the lender you choose, your personal circumstances, and the repayment term you select. PaydayUK works with lenders offering a representative 91% APR, though actual rates vary from 9.3% to 1,721% APR depending on your credit profile.
Representative Example
If you borrow £500 over 6 months at 91% APR, you would make 6 monthly payments of £106.79, repaying a total of £640.77. This means you’d pay £140.77 in interest charges over the full term.
● Amount borrowed: £500
● Repayment term: 6 months
● Monthly payment: £106.79
● Total repayable: £640.77
● Total interest: £140.77
● Interest rate: 91% per annum (fixed)
● Representative APR: 91%
Why APR Rates Appear High
The APR (Annual Percentage Rate) looks high because it’s calculated as if you were borrowing for a full year. For short-term loans of 3 to 6 months, the actual pound amount of interest is much more relevant than the annualised percentage.
That’s why we always show you both the monthly payment and the total amount repayable upfront. Different lenders assess risk differently, so your personal circumstances influence the rate you’re offered.
FCA Interest Rate Caps
Every lender in our panel must follow strict FCA regulations that cap the cost of borrowing:
● Maximum 0.8% interest per day
● Maximum £15 default fee
● Total cost cap of 100% (never repay more than double what you borrowed)
These rules protect you from excessive charges. If you need a longer repayment period, consider a 12 month loan to reduce your monthly payments.
Who Can Apply for a £500 Loan?
To be eligible for a £500 loan through PaydayUK’s panel of lenders, you need to meet some basic criteria. These requirements help lenders make responsible lending decisions.
Basic Requirements
● Age: 18 years or older
● Residency: UK resident with 3 years of address history
● Income: Regular source of at least £500 per month
● Bank account: UK bank account with debit card
● Contact: Valid email address and UK mobile number
● Status: Not currently bankrupt or in an IVA
Credit History Considerations
You don’t need perfect credit to qualify. Many lenders in our panel specialise in helping people with past credit difficulties. They focus more on your current affordability than your historical credit score.
However, if you’ve been bankrupt in the past year or are currently in severe financial difficulty, lenders may not be able to help you responsibly.
If you’re concerned about your credit history, our panel includes lenders who offer bad credit loans and assess applications based on your current circumstances rather than past mistakes.
All our lenders are required by the FCA to check you can afford the loan repayments. They’ll look at your income versus your regular expenses, existing credit commitments, and general living costs. This protects you from taking on unaffordable debt.
Why Use a Broker Like PaydayUK?
Many people wonder whether they should apply directly to a lender or use a broker service. Understanding the difference helps you make the best choice.
● Multiple lenders, one application: Applying to individual lenders one by one is time-consuming. With PaydayUK, you complete one application that’s shared with our entire panel. This saves you hours of form-filling.
● Save time comparing: Unlike a direct lender who can only offer their own product, we show you competing options side by side. You can see which lender offers the lowest monthly payment or the lowest total repayable amount.
● Protect your credit score: Every time a lender performs a hard credit check, it leaves a footprint. Multiple applications create multiple footprints, which can harm your credit rating. When you use PaydayUK, there’s only one initial soft search.
● Zero fees ever: PaydayUK never charges customers any fees. Our service is completely free. We’re paid by lenders when customers successfully take out loans, so there’s no cost to you.
● FCA protection: We’re FCA-authorised (reference 921539) and operate as an Appointed Representative of Flux Funding Limited (FRN 806333). All the lenders in our panel are also FCA-authorised.
● Higher approval chances: Direct lenders have one set of criteria. Our panel includes lenders with different risk appetites. One lender might decline you whilst another specialist lender is happy to help.
For flexible repayment terms, our panel includes lenders offering instalment loans with structured payment plans.
What to Consider Before Applying
Taking out any loan is a serious financial commitment. Before you apply, take time to consider whether it’s the right solution.
● Do you genuinely need to borrow? Ask yourself if there’s any alternative. Could you wait until payday? Can you negotiate a payment plan? Borrowing always costs money in interest.
● Can you afford the repayments? Work out your monthly budget honestly. Your loan repayments should comfortably fit within your disposable income with room to spare.
● Have you considered alternatives? Your local credit union might offer lower-cost loans. Some employers provide emergency loans or salary advances. These alternatives often cost less.
● Do you understand the total cost? Use our representative example to see actual costs. Don’t focus only on monthly payments, check the total amount repayable.
Free Debt Support Resources
If you’re considering a loan because you’re already struggling with debt, speak to a free debt advice service first:
● MoneyHelper: moneyhelper.org.uk or call 0800 138 7777
● StepChange: stepchange.org or call 0800 138 1111
● Citizens Advice: citizensadvice.org.uk
These organisations can help you understand your options, negotiate with creditors, or set up debt management plans. Their advice is always free.
How PaydayUK Protects You
Your safety and financial wellbeing matter to us. We’ve built multiple layers of protection into our service.
● FCA authorisation: PaydayUK operates under full FCA authorisation (reference number 921539). We’re an Appointed Representative of Flux Funding Limited (FRN 806333).
● Data protection: Your personal information is protected under UK data protection laws. We’re registered with the Information Commissioner’s Office (registration number ZA654345).
● Secure application: Your data is encrypted during transmission using bank-level security and stored securely.
● Credit score protection: Our initial eligibility check uses soft search technology. Only if you accept a specific lender’s offer will they perform a full credit check.
● Right to withdraw: Under UK consumer credit regulations, you have the right to withdraw from a credit agreement within 14 days of signing.
Our registered office is at The Charter Building, Charter Place, Uxbridge, UB8 1JG. We’re a registered company (Payday Loans Limited, company number 12430457).
The Application Process
Understanding exactly what information you’ll need helps you prepare and reduces the stress of applying.
What You Will Need
● Personal details: Full name, date of birth, current address
● Address history: Past 3 years of addresses
● Employment details: Employer name, employment status
● Income information: Monthly income after tax
● Bank details: UK bank account sort code and account number
● Monthly expenses: Rent, bills, existing credit commitments
Timeline
● Application: 2 minutes to complete online form
● Matching: Instant soft search across lender panel
● Decision: 2-5 minutes to see matched offers
● Funding: Same-day transfer for approved applications
After You Apply
Once you submit the form, lenders in our panel perform a soft search using credit reference agencies. This happens within seconds. You’ll be shown which lenders can offer you a £500 loan.
Each offer displays the monthly payment, total amount repayable, APR, and repayment term. Take time to compare these carefully before making your decision.
If approved and you accept an offer, most lenders use Faster Payments. The money typically arrives in your account within an hour. Some customers receive funds in as little as 10 to 20 minutes.
If you need a different amount, consider a £400 loan for smaller expenses or a £700 loan for larger costs.
Ready to Check Your Eligibility?
A £500 loan through PaydayUK gives you access to our industry-leading panel of FCA-regulated lenders. Our soft credit check technology protects your credit score whilst you compare multiple offers.
With same-day funding for approved applications, no fees from PaydayUK, and a simple 2-minute application, you can see your options in minutes. Whether you need to cover an unexpected car repair, boiler breakdown, or urgent bill, we’re here to help you find the right lender.
Check your eligibility now with no impact on your credit score.
How it Works
We know you need your money as soon as possible. That’s why we have designed our website to be fast and simple.
Apply Online
Fill out our short, secure form and search an industry-leading panel of lenders to find your loan.
Check Your Offer
Once you have your offer from the lender, you can review the offer and get your cash.
Get Your Money
Once accepted, your money can often be paid into your account the same day.
Frequently Asked Questions About £500 Loans
When you apply for a £500 loan via Payday UK, we look at an industry-leading panel of lenders to see who can offer you the best deal. This can save you considerable time. It also provides you with the peace of mind knowing you’re getting the best deal currently available to you from a regulated and reputable direct lender.
We believe everyone should have access to emergency funds when they need it. A £500 loan could save you a lot of hassle. Our brokers lenders don’t penalise people for past mistakes and are more interested in your current situation than previous indiscretions that might have affected your credit rating. With more than 7500 applications per day^, we help many people find their best route to extra cash.
Our brokers panel of lenders features as much variety as possible. This means they have specialists in all areas, even providing bad credit loans for £500. When you initially apply, lenders will only perform what is known as a soft credit check. This doesn’t affect your credit score. All reputable direct lenders are required to complete a full credit check if you accept a loan offer. The FCA requires them to do this before releasing the funds, so be suspicious of any company that says they can grant a loan without performing one.
Our brokers whole application process is paperless. This means you can go through from start to finish online. You can apply quickly, easily, and securely on any device from a desktop computer to your mobile phone. We’ve put a lot of time and effort into creating the same seamless experience for all our customers, regardless of how they apply.
£500 payday loans are meant as a short-term solution to help you keep your head above water when faced with an unexpected expense. They can be an ideal solution for people that need a quick fix with a short repayment period. However, if you’re looking for a longer-term solution to any financial difficulty, then you should consider seeking advice from a professional debt service. There are several that will help you free of charge.
Applying through PaydayUK starts with a soft credit check that doesn’t affect your credit score at all. This initial check is visible only to you and leaves no footprint that other lenders can see.
Your credit rating remains completely unaffected during this stage. Only if you decide to proceed with a specific lender will they perform a full credit check, which will appear on your credit file.
Most approved applicants receive their £500 loan the same working day, often within an hour of signing the loan agreement. Some customers report receiving funds in as little as 10 to 20 minutes.
The exact timing depends on what time you apply, how quickly you complete the application, and your bank’s processing speed. If you apply late on Friday evening, you might not receive funds until Monday.
Yes, many lenders in our panel specialise in helping people with poor credit histories. They focus more on your current income and ability to afford repayments than your past credit mistakes.
However, having bad credit typically means you’ll be offered higher interest rates. If you’ve been bankrupt recently or are currently in serious financial difficulty, lenders may not be able to help responsibly.
If your expense is greater than £500, you can apply for a larger amount through PaydayUK. Our lenders offer loans from £50 up to £5,000, so we can help with larger expenses too.
However, only borrow what you genuinely need. Borrowing £1,000 when you only need £500 means paying unnecessary interest on the extra amount.
No, PaydayUK never charges customers anything. Our service is completely free. We don’t charge application fees, broker fees, or administrative charges.
We’re paid commission by lenders when customers successfully take out loans. The only money you pay is to the lender you choose, and those costs are shown clearly before you commit.
Repayment terms for £500 loans typically range from 3 to 6 months, though some lenders offer flexibility up to 12 months. Shorter terms mean higher monthly payments but lower total interest.
Longer terms spread the cost over more months, reducing your monthly payment but increasing the total interest you pay. You choose the term that works best for your budget.
Most lenders in our panel allow early repayment without penalty. This means if you receive extra money, you can use it to pay off your loan sooner and save on interest.
Always check the specific lender’s early repayment policy in their terms before accepting the loan.
If you realise you’ll struggle to make a payment, contact your lender immediately. Many lenders can arrange a payment holiday, adjust your repayment schedule, or work out a temporary solution.
Ignoring missed payments makes the situation worse. Lenders can charge late payment fees (capped at £15), and missed payments damage your credit score.
Using a broker like PaydayUK gives you access to multiple lenders through one application, protecting your credit score with an initial soft search. This saves time and increases your approval chances.
Applying directly to a lender means you only see one offer, you risk a hard credit check for nothing if they decline you, and you have no basis for comparison.
PaydayUK is fully authorised by the Financial Conduct Authority (reference 921539). We’re an Appointed Representative of Flux Funding Limited (FRN 806333).
We’re a registered UK company (Payday Loans Limited, number 12430457) with a physical office address. We’re registered with the ICO (registration ZA654345) for data protection. All these details can be independently verified.
Yes, self-employed people can apply for £500 payday loans. Lenders will need to verify your income, which might mean providing bank statements showing regular deposits.
As long as you have a steady income of at least £500 per month and can demonstrate affordability, being self-employed shouldn’t prevent you from accessing loans.
Loan guides
These guides will help you find out more about the different types of loan and lenders available.
