A cash loan is simply a personal loan paid straight into your bank account, ready to spend on whatever you need. You can apply to borrow from £100 to £5,000 over 3 to 36 months.
We are a credit broker, not a lender, so one short form compares a panel of FCA authorised UK lenders and brokers using a soft search that has no impact on your credit score. A hard credit search is only carried out when you formally apply to a lender which can affect your credit score.
How a cash loan works
Despite the name, the money is not handed over as physical cash. Once a lender approves your application, it is paid electronically into your bank account, and you repay it in scheduled monthly instalments.
- Apply in minutes with a soft search quote
- See if we find a potential partner match
- Receive funds to your bank, often the same day
Who can apply
Lenders set their own criteria, but as a general guide you will usually need to be a UK resident aged 18 or over, with a regular income the lender can verify, a UK bank account, and to pass the lender's own affordability and credit checks.
What a cash loan costs
The cost of a cash loan depends on the amount, the lender's rate and the term you choose. It is always worth checking the total amount repayable, not just the monthly payment, before you go ahead.
If the agreement is classed as high cost short term credit, these FCA caps apply:
- Interest is capped at 0.8% per day of the amount borrowed
- Default fees cannot exceed £15
- You never repay more in interest and fees than you borrowed
When a cheaper option may suit you better
A cash loan is convenient, but it is not always the lowest cost way to borrow. If you have a little time, it is worth comparing a couple of alternatives first.
- An arranged overdraft with your own bank for a short shortfall
- A credit union loan, which often charges lower rates
- Spreading a bill directly with the provider, where that is offered
How to apply
Borrowing responsibly
It is worth making sure the monthly repayment fits comfortably around your other commitments before you apply. Focus on the total amount repayable across the full term, not just the headline monthly figure, and only borrow what you really need.
Every lender on our panel is authorised by the Financial Conduct Authority, and high cost short term credit is subject to an FCA total cost cap, meaning you cannot repay more in interest and fees than the amount borrowed. If money is tight, free and impartial help is available from MoneyHelper.
Representative Example: Borrow £1,000 over 18 months. 18 monthly repayments of £89.22. Total amount repayable: £1,605.96. Interest: £605.96. Annual interest rate: 59.97% (fixed). Subject to application approval by the lender. Not all lenders offer loans up to £5,000. Representative APR 79.5% (Variable). Any representative monthly repayment shown is for illustration only, based on our representative APR. Your actual repayments will be confirmed by the matching lender if your application is approved.