• Borrow £100 to £1,750
  • Repay over 3 to 12 months
  • Payouts within 24 hours
  • All credit ratings
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Oakam logo

About Oakam

Oakam has been trading for many years and has established a good reputation in the short-term loans market. They say they have over 150,000 active customers across the UK.

Loan Summary:

Oakam considers itself to be an alternative to a doorstep loan and is able to offer both weekly and monthly payment plans. If you are a new customer you may apply for a loan of up to £800. The interest rate charged depends on the amount you borrow, the repayment period and your personal circumstances. The rate can be between 223% APR and 1596.1% APR.


Loans Amount (£) Loan Term (months) Representative APR
100 – 1,750 3 – 12 1421%


Over time, as you build a relationship with Oakam, you can get lower rates and borrow more. Their “Lift Loan” product allows you to borrow £2,000 to £5,000 over 24 months. The combination of the standard Oakam loan and the Lift loan means that Oakam covers the span of the 118 118 Money product.

Lender Ratings:

Oakam scores 4.7 out of 5 based on 18,100 reviews on Trustpilot. This score puts Oakam at the top end of the reputation spectrum compared to the typical short term loan lender.

Compare Oakham to Others

For clarity here are the key differences of Oakam to the “typical” or “average” short term loan lender:


  • Ratings and reviews are class-leading
  • Rates are able to reflect personal circumstances which will help some applicants
  • Top-ups and larger loans are available later if you show good account management
  • The mobile phone app enables easy account management


  • Rates are variable during the loan term
  • You won’t initially be able to obtain more than £800

Oakam’s Representative Example

Borrow £740 for 26 weeks. Representative 1421% APR variable. Weekly payment £54.30. Interest payable £671.87. Total repayable £1411.87.

Warning: Late repayment can cause you serious money problems. For help, go to  moneyhelper.org.uk.

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How to find Oakam

Office Address:

Sunley House 3rd Floor, Bedford Park, Croydon, England, CR0 2AP

Office Hours:

Mon – Fri: 08.00 – 19.00

Sat: 09.00 – 18.00

Important Links:

Company Information

Company Registration

Oakam Limited. Registered Office: Sunley House 3rd Floor, Bedford Park, Croydon, England, CR0 2AP. Company registration number 05878249.

FCA Registration

Oakam Limited is authorised and regulated by the Financial Conduct Authority with firm reference number 678734.

ICO Data Protection Registration

Oakam Limited is registered with Information Commissioner, registration number Z9778446.


Instalment Loans Guide

If you’re uncertain which type of credit might suit you or you have a money problem then one of guides may help you. We summarise each type of loan and their pros and cons, and address issues regarding debt and credit ratings.

Got a Question about Oakam?

Answer to Common Questions

What is Oakam's "Lift Loan"?

The Lift Loan offers £2,000 to £5,000 over a fixed 24 month period. You need a minimum income of £700 per month from either a salary or self employment. There are no fees if your payments are late or if you wish to settle the loan early. The representative APR is 98.8% variable. Once your loan application is accepted you can expect to get the loan paid to you the same day.

How do the "Oakam Loan" and the "Lift Loan" differ?

The Oakam Loan (that we describe in detail above) is a 3,6 or 12 month loan of up to £1,750 (though if you are a new customer the limit is £800). This type of loan is appropriate for small scale purchases and/or emergencies. You may be able to top this up under circumstances.

The Lift Loan is a larger loan (£2,000 to £5,000) over a 24 month period that would be used for things like home improvements, business opportunities or larger sized purchases. You are unlikely to be able to obtain one of these loans from Oakam unless you have built up a relationship with them by successfully paying off one of their smaller loans.

How do I top-up my Oakam loan?

If you already have an Oakam loan you may be able to top it up/borrow more if you are up to date with your current loan repayments and if you can show you can afford the new repayments. To check if you are eligible you use the phone app that they have made available.

What can the mobile phone app do for me?

To help you manage your loan and ensure you are on time with your repayments Oakam has developed a mobile phone app (available for both iOS and Android). This app allows you to:

  • Check your our outstanding balance
  • Check your next repayment day
  • Review your repayment schedule
  • See if you have a top-up offer available
  • View your personal details

Alternatively, you can contact Oakam via their website or by phone.

What will my instalment payments be?

When you apply you select your preferred loan amount and repayment period. The APR% will depend on the loan size, repayment term and your personal circumstances. You will be credit checked and an affordability assessment conducted. At this point Oakam will be able to advise you what your repayments would be, in principle.

Repayment Example

This is Oakam’s representative example – Amount of credit £740 for 26 weeks. Weekly payment of £54.30. Total amount payable: £1411.87. Representative 1421% APR.

Speeding up your repayments or electing to repay it more quickly from day 1 will cut your interest costs. You will not be charged any penalty for doing this. But take care about affordability as reducing the repayment period will raise your monthly repayment.

Are there any hidden charges?

Oakam do not charge set up fees or fees for early repayments and missed payments. However, if you do miss a repayment then you must keep in mind that this will be notified to the major credit agencies and will count against you if and when you apply for future credit from lenders, retailers or mobile phone companies, etc.

How do I make my repayments?

You have a number of options for making your loan repayments as follows:

  • by debit card using a Continuous Payment Authority (CPA)
  • by direct debit from your bank account

You can choose between a weekly, two-weekly, four-weekly or monthly repayment plan. You can also repay your entire loan early without incurring any extra repayment charges.

Can I change my instalment payments or pay off my loan early?

Yes. And this will reduce your interest costs. There is no fee for doing this. You would need to get in touch with the Oakam customer service team to organise this.

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For over a decade Solution Loans has helped people all over the UK find solutions to their personal finance problems.

OUR REPUTATION Instalment Loans


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Our reputation is great. In fact we have scored 4.6 out of 5 based on 308 ratings & 53 user reviews for our short term loans service.


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Written/Reviewed by: Amanda Gillam

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