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 leaves no mark on your credit file.
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 fixed monthly instalments.
- Apply in minutes with a soft search quote
- Get matched with a lender that suits your circumstances
- 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.
High cost short term credit is capped by the Financial Conduct Authority, which gives you some protection whatever you are offered.
- 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 capped, so you can never repay more in interest and fees than the amount you borrowed. If money is tight, free and impartial help is available from MoneyHelper.
Representative Example: £1,000 borrowed for 18 months. 17 monthly repayments at £87.22, final repayment of £87.70. Total amount repayable £1,570.44. Interest total £570.44. Annual interest rate 59.97% (fixed). 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.