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Short-term loans
Short term loans that fit around your payday - borrow from £50 to £5000 over a term that suits you.
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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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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Short term loans with Payday UK
Short-term loans online
When an unexpected bill lands or your car breaks down, you need options fast. Short term loans offer a way to borrow money and repay it over a manageable period, typically between 3 and 36 months.
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Payday UK is a broker, not a lender. We connect you with FCA-regulated lenders offering short term loans from £50 to £5,000.
Payday UK can also help you find payday loans from £50 to £5,000.
As a credit broker, we search our panel to find lenders that match your circumstances. One application, multiple options. Each lender then makes its own decision.
Check eligibility Soft search. Won’t affect your score
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SHORT TERM LOANS EXPLAINED
What are short-term loans?
A short term loan is money you borrow and repay over a relatively brief period. Most short term loans in the UK range from a few months to three years, with fixed monthly repayments.
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These loans differ from traditional bank loans in several important ways:
Designed for smaller amounts, typically £50 to £5,000
Faster approval times, often within minutes
Often accept applicants with imperfect credit histories
Higher interest rates than long term borrowing
Repayment periods measured in months, not years
Short term loans can help cover costs like emergency car repairs, unexpected bills, or essential home maintenance. They’re not designed for long term financial needs or regular spending.
Before borrowing, consider whether a short term loan is genuinely the right solution for your situation.
Check eligibility Soft search. Won’t affect your score
Apply now
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.
Check eligibility Soft search. Won’t affect your score
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How do short-term loans work through Payday UK?
Getting a short term loan through Payday UK follows a straightforward process. You won’t need to visit a branch or wait days for a decision.
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Here’s how it works in four simple steps:
1. Complete your application
Start by filling in our online form. This takes around two minutes and asks for basic details about yourself, your income, and how much you’d like to borrow. You can apply any time of day, any day of the week.
2. We search our lender panel
Once submitted, your details go to our panel of lenders. The lenders run a soft credit check first, which won't affect your credit score.
3. Review your options
You’ll see which lenders may be willing to offer you a loan, along with their rates and terms. Compare offers side by side with no obligation to proceed.
4. Accept and receive funds
If you find an offer that works for you, accept it on the lender's site. The lender will perform a full credit check before releasing funds. Many customers receive their money the same day if approved before a certain time.
Applying through a broker means one application can reach several lenders, rather than applying to each one separately. For the initial eligibility check, lenders use a soft search that only you can see.
If you're worried about having bad credit, this approach lets you check your options before committing to anything.
Check eligibility Soft search. Won’t affect your 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.
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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.
Short-term loans from direct lenders
Payday UK is a credit broker, not a direct lender. We search a panel of FCA authorised direct lenders to find ones that may offer you a short term loan.
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Because access to this type of money is often needed as soon as possible, lenders have streamlined the process of applying and receiving your funds as much as possible. It's now easy to apply for short-term loans online.
Our team and systems are built to match you with a suitable lender quickly. Lenders on the panel consider applicants with a range of credit histories.
What are the eligibility requirements for a short-term loan?
To apply for a short term loan through Payday UK, you’ll need to meet some basic requirements. These help lenders assess whether they can offer you credit responsibly.
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Basic eligibility criteria:
Be at least 18 years old
Be a UK resident with a valid UK address
Have a UK bank account and debit card
Receive regular income from employment, self-employment, or benefits
Have a valid email address and UK mobile number
Meeting these criteria doesn’t guarantee approval. Each lender in our panel has their own acceptance policies and will assess your application based on affordability and credit history.
If you’ve been declined elsewhere, our panel approach may still find lenders willing to help. Different lenders have different criteria, and some specialise in applicants with poor credit histories.
Soft credit check only. No impact on your credit score. See your options in minutes.
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What does a short-term loan cost?
Short term loans typically carry higher interest rates than traditional bank loans. This reflects the shorter repayment period and the different risk profile of borrowers.
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At Payday UK, our representative APR is 91%. The representative example on this page shows what a loan costs in total. Your actual rate will depend on the lender you’re matched with and your personal circumstances.
APR can look alarming when applied to short term borrowing. The rate is calculated annually, but you’re borrowing for months, not years. Always focus on the total amount repayable rather than the APR alone.
Check eligibility Soft search. Won’t affect your score
Why choose Payday UK for short-term loans?
Choosing where to apply for a short term loan matters. Payday UK offers several advantages over applying directly to individual lenders.
Our service is completely free to use. We never charge application fees, broker fees, or any other charges. Lenders pay us a commission if you successfully take out a loan, so there’s never a cost to you.
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Key benefits of using Payday UK:
One application searches our entire panel of FCA-regulated lenders
Soft credit check protects your credit score
Compare multiple offers without multiple applications
No fees to you, ever
24/7 online applications accepted
Same day funding possible if approved
How do short-term loans compare to other borrowing options?
Short term loans aren’t the only way to handle unexpected expenses. Understanding your options helps you make an informed decision.
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Credit cards
Offer flexibility if you have one with available credit. You can borrow without a new application and potentially benefit from an interest-free period. However, getting a new credit card takes time, and rates can be high if you don’t repay quickly.
Overdrafts
Might help if your bank offers one. Arranged overdrafts typically have lower rates than short term loans, though unauthorised borrowing can be expensive. Check what your bank charges before relying on this option.
Savings
If the expense can wait, saving up avoids borrowing costs entirely. Even a few weeks of saving might cover a smaller emergency without the need for credit.
How much can I borrow short term?
Lenders on the panel offer short term loans across a wide range of amounts. The amount you need usually decides the term you'll be offered.
Smaller amounts (£50-£500):
Consider our £100 loans or £200 loans. These suit situations where you need a modest boost to cover a shortfall until payday.
Mid-range borrowing (£500-£1,500):
Options like £500 loans or £1,000 loans can help with car repairs, emergency home maintenance, or larger unexpected bills.
Larger amounts (£1,500-£5,000):
For more significant expenses, you may be able to borrow up to a £5,000 loan through our panel. Larger amounts typically come with longer repayment terms, spreading the cost into manageable monthly payments.
How do short-term loan repayment terms compare?
Short term loans through Payday UK can be repaid over 3 to 36 months. The right term depends on how much you’re borrowing and what you can afford each month.
How repayment terms compare:
Shorter terms (3-6 months):
Higher monthly payments but less interest overall. A 3 month loan might suit a small amount you can repay quickly.
Medium terms (6-12 month loans):
Balance between monthly cost and total interest. 12 month loans spread the cost further.
Longer terms (12-36 months):
Lower monthly payments but more interest over time. Best for larger amounts.
For what the number of payments changes beyond the monthly amount, see the term table on our instalment loans page.
Monthly payments are fixed, so you’ll know exactly what to budget each month. Repayments usually leave your account via direct debit on the same date, making it easier to plan your finances.
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Will applying for a short-term loan impact my credit score?
If you're worrying about credit checks stopping you from exploring your options, lenders on our panel start with a soft search, which won't affect your credit score.
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When you apply through Payday UK, lenders use a soft credit search for the initial eligibility check. This type of search is visible only to you on your credit report. Other lenders cannot see it, and it doesn’t affect your credit score.
Benefits of this soft search approach:
Check your eligibility without any credit impact
See potential rates and terms before committing
Compare multiple lender offers safely
No obligation to proceed with any offer
Other lenders cannot see your search
A hard credit check will only take place if you accept an offer and proceed with a lender. Unlike a soft search, this will be visible to other lenders on your credit report. Lenders carry out this check as part of the affordability assessment required under FCA rules before releasing funds. Approval is never guaranteed and rests on the lender's final checks.
Check eligibility Soft search. Won’t affect your score
What can I use a short-term loan for?
Short term loans help people manage various financial challenges. Here are some situations where a short term loan might be appropriate.
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Car repairs
Often can’t wait. If your vehicle is essential for getting to work, a short term loan can cover repair costs while you spread the repayment over several months.
Home emergencies
Boiler breakdowns or urgent plumbing issues need immediate attention. Waiting for savings to accumulate isn’t always possible when your heating stops working in winter.
Medical or dental costs
Sometimes arise unexpectedly. If you need treatment that isn’t fully covered by the NHS, a short term loan can help cover private fees.
Moving costs
Catch many people off guard. Deposits, removals, and connection fees add up quickly when relocating.
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What are some alternatives to short-term loans?
Before applying for any loan, consider whether alternatives might work better for your situation. Borrowing money always has costs, and sometimes other options exist.
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Consider these alternatives first:
1. Credit unions
Offer an ethical alternative to commercial lenders. They’re community-based organisations that often provide lower interest rates than mainstream short term loan providers. Find your local credit union at findyourcreditunion.co.uk.
2. Payment plans
Speak to whoever you owe money to. Many utility companies, councils, and businesses offer payment plans for customers struggling with bills. Arranging to pay in instalments might avoid the need to borrow altogether.
3. Benefits check
Check what benefits you might be entitled to. Government support exists for various situations, and free advice services can help identify what you might claim. MoneyHelper at moneyhelper.org.uk offers guidance.
Check eligibility Soft search. Won’t affect your score
Free, independent debt help
If debt is becoming unmanageable, free advice services can help. It is confidential and will not affect 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.
What should I think about before applying for a short-term loan?
Taking out a short term loan is a financial commitment. Before applying, honestly assess whether you can afford the repayments.
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Ask yourself these questions:
After covering essential bills, food, and travel, would I have enough left for loan repayments?
Could I still make payments if my hours at work were reduced?
Am I borrowing only what I genuinely need?
Have I considered all alternatives first?
Only borrow what you genuinely need. While you might be offered more than your initial request, accepting the minimum necessary reduces your total cost and makes repayment easier.
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Short-term 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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Avoid scams and find FCA-authorised lenders. Learn the safe way to apply online.
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Understand Annual Percentage Rate and how it affects your loan costs.
Frequently asked questions about short-term loans
What is the most I can borrow with a short term loan?
Through Payday UK, you can apply for up to £5000, and most people borrow considerably less. If you need more, a traditional loan with a longer repayment period is likely to suit you better.
If a company offers short term loans for higher amounts, you should make sure you completely understand the full terms of the loan, as if they apply payday loan rates to a larger sum the interest could mount up quickly.
Does the loan have to be repaid quickly?
The repayment varies. You can choose a repayment period of between 3 and 36 months. The length of the repayment period is usually a reflection of the size of the loan. The larger the loan is, the longer the repayment period. A smaller loan would typically be repaid over a shorter period.
Select a repayment period that gives you payments you’re sure you’ll be able to meet. You don’t want to stretch yourself too much and end up in the same situation in a couple of months.
Are short term loans the same as payday loans?
Short term loans and payday loans are closely related, but a short term loan usually gives you more flexibility. Payday loans are taken over a short period, while a short term loan can be repaid over 3 to 36 months.
Many banks offer loans with short repayment periods but never call them payday loans. That is partly because of the negative history attached to the term.
Are short term loans expensive?
Short term loans cost more than most other borrowing, and they get more expensive if you miss repayments. The high APRs reflect the short term of the loans. If a loan runs beyond its agreed term, extra interest can add up quickly, so use a reputable lender that is open about its terms.
Much of the poor reputation dates back to when unregulated lenders took advantage of people in difficult situations. Lenders must now be authorised by the FCA and follow its rules, which gives you more protection.
Can I get a short term loan with bad credit?
You may be able to get a short term loan with bad credit, as our panel includes lenders who specialise in imperfect credit histories. Each lender sets its own criteria, so being declined elsewhere doesn't mean every lender will say no. Approval isn't guaranteed, but applying through a broker means more than one lender can consider you.
Can I get a short term loan on benefits?
You may be able to get a short term loan on benefits, as many lenders on our panel accept benefits as income. Each lender decides based on your overall finances and its own criteria. Checking your eligibility first shows whether any lender may consider you.
I need to borrow money quickly, is a short term loan a good option?
Yes, it can be. If you need to borrow between £50 and £5000, a short-term loan could be ideal for you. Short-term loans have been designed to help people that need access to extra money quickly. The reasons vary, but they usually include an unforeseen expense, such as a car breaking down or a house repair that needs immediate attention. If this sounds like you, then a short-term loan could help you out of a sticky situation.
Short-term loans aren’t a good solution for longer-term financial difficulty, such as paying other debts. There are free services you can use if you’re struggling with debt and need help to get back on track. Look at moneyhelper.org.uk
stepchange.org
nationaldebtline.org websites for further information.
