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£500 loans with an instant decision quote
£500 is the amount most people ask us for - here is what it costs and how quickly it can arrive.
What happens after I click?
- You complete one short, secure form.
- A soft search checks your eligibility. Your credit score isn't affected.
- No one will call you.
- If accepted, you see your offer and choose whether to accept.
- We do not charge you a fee for using PaydayUK.
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4,500+
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Representative example: Amount of credit: £500 for 6 months at £100.22 per month (final payment £100.21). Total amount repayable of £601.31 Interest: £101.31 Interest rate: 66.49% pa (fixed). Representative 91% APR. Rates between 9.3% APR and maximum 1292.1% APR - your no-obligation quote and APR will be based on your personal circumstances. Credit broker, not a lender. Payday UK (Payday Loans Ltd) is an appointed representative of Flux Funding Limited, which is authorised and regulated by the FCA (FRN 806333).
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500 loans online
Can I get a £500 loan online with Payday UK?
You can apply for a £500 loan online through Payday UK in about 2 minutes, from your phone or computer.
We are a credit broker, not a lender. We use our technology platform to search our panel of FCA-regulated lenders and show you which may consider your application.
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£500 tends to cover a bigger single cost. Typical examples are a clutch or brake repair, a winter boiler breakdown, or dental treatment the NHS won't cover.
At £500 the shortest term on our panel is 3 months. Each instalment is then a sizeable share of the loan plus interest, so check it fits each of those months.
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Enter an amount in pounds, from £50 to £5,000.
Will I be approved?
We know you need your money as soon as possible. Check where you stand in 3 minutes with a soft search that leaves no mark other lenders can see.
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How much does a £500 loan cost?
The cost of a £500 loan is the interest your lender charges, which depends on the rate you’re offered and how many months you take to repay.
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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.
To see how the term changes the cost, compare terms on our instalment loans page.
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What should I check before I apply for a £500 loan?
Before you apply for a £500 loan, check that you really need to borrow, that you can afford the repayments and that you understand the total cost.
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Do you genuinely need to borrow money? 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, independent debt help
If you are thinking about a loan because you are already behind, speak to a free adviser first. Advice is confidential and does not touch your credit file.
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MoneyHelper
Free, impartial money and debt guidance, backed by government, including a debt advice locator.
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StepChange
Free, confidential debt advice and managed debt plans, online or over the phone.
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National Debtline
Free, independent advice on dealing with debts, with fact sheets and sample letters.
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Citizens Advice
Free help with debt, benefits and housing, in person, by phone or online.
0800 144 8848 (England; Wales 0800 702 2020)
If you're unsure whether borrowing is right for you, our eligibility criteria page explains who lenders can consider.
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.
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Apply online
Fill out our short, secure form and search a panel of FCA-regulated lenders to see the offers available to you.
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Check your offer
Once you have your offer from the lender, you can review the offer and get your cash.
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Get your money
Once accepted, your money can often be paid into your account the same day.
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£500 loan amounts and terms
Check eligibility Soft search. Won’t affect your score
Representative 91% APR.
Loan guides
These guides will help you find out more about the different types of loan and lenders available.
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What to compare beyond the APR, from the total you'll repay to what happens if a payment fails.
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Understand Annual Percentage Rate and how it affects your loan costs.
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Avoid scams and find FCA-authorised lenders. Learn the safe way to apply online.
Frequently asked questions about £500 loans
What can a £500 payday loan be used for?
A £500 payday loan can be used to cover a one-off unexpected cost, such as a car repair, a broken boiler or a vet bill. It’s meant as a short-term solution, not a long-term answer to money problems. If you’re facing ongoing financial difficulty, free debt advice services such as StepChange and Citizens Advice can help you first.
How quickly can I get the money?
If a lender approves your £500 loan and you accept the offer, the money can often reach your account the same day. Exact timing depends on the lender first, then on how quickly your bank processes the payment. If you apply late in the day or at a weekend, the payment may not clear until the next working day.
Can I get a £500 loan with bad credit?
You may still be able to get a £500 loan with bad credit, but approval is never guaranteed. Some lenders on our panel focus more on your current income and whether you can afford the repayments than on past mistakes. Bad credit usually means a higher rate, and recent bankruptcy can rule you out.
How long do I have to repay a £500 loan?
You can repay a £500 loan over 3 to 36 months, depending on the lender and your circumstances. 6 month loans and other shorter terms mean higher monthly payments but less interest overall. Longer terms lower each payment but raise the total you repay, so choose the shortest term you can afford.
Can I repay my £500 payday loan early?
You can repay early at any time and pay less interest. No early repayment charge applies to loans arranged through us. Ask the lender for a settlement figure first. It can include up to 28 days' extra interest. Agreements over a year can add a little more.
What happens if I can't make a payment?
Tell the lender before the payment is due. It has to treat you fairly and can often move the date or agree a plan.
Missed payments are reported and can harm your credit file.
What if I need more than £500?
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.
