- Borrow up to £2500
- Same day payouts possible
- Full online service
- Alternative loan options
- Trusted lenders only
Quick Loans with a Fast Service
Life moves at a fast pace and no one likes to have to wait for anything. When you’ve made a decision about something you want to get on with it. The same can be said for your financial arrangements.
No one wants the lack of cash to be a reason for not doing something. And if you can’t draw on the readies from your bank account then you’ll want to borrow it quickly. Quick loans are more available now than at any other time – although they are always subject to status and affordability.
There are certain types of quick and fast credit that are speedier than others to arrange. Below are a number of options which are obtainable at varying degrees of speed.
How fast are these loans?
Different types of quick loans are available at different speeds:
- Instalment Loans – within 2 hours
- Doorstep Loans – 1 or 2 days delivered (online option exists too)
- Payday Loan – within 2 hours
Loans that Payout Fast
If you’ve got an immediate need for a cash loan then there are some alternatives you can consider. All of these loans can be applied for online. The fastest loans need you to have a bank account so that the loan can be transferred to you electronically. But if you don’t have a bank account then a doorstep loan may be the solution you need. Even in this case, you should be able to get your loan within a day or two of acceptance. The loan is brought to you at home.
Instant Cleared Funds to your Bank
Once the lender has approved your loan the question you will have is “how quick can I get the cash?” The actual speed of payout depends on the banking system. The Faster Payments system (if your bank uses it) means you could receive cleared funds within 2 hours. However, if this is not available then it may take a couple of days for you to get your money.
If you don’t have a bank account then a doorstep loan is your only borrowing option. In this case, getting your cash loan may take a little longer.
Lenders have a duty to ensure that applicants are identity checked and that they truly can afford to repay the loan. So a credit check and a full affordability assessment will be done by the lender. You will need to provide information about your income and expenditure.
These extra checks will limit how quickly a loan application can be processed. However, in many cases, the necessary checks can be done online and almost instantly. You will rarely have to provide physical documentation.
Our Money & Credit Guides
If you’re uncertain which type of credit might suit you or you have a money problem then one of our 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 Quick Loans?
Answers to Common Questions
A truly quick loan is one that you can apply for online and receive into your bank account in a matter of a couple of hours. Both instalment loans and payday loans are capable of paying out this fast. Not only is the application online, but the process the lender uses to verify and assess your application is conducted digitally with relatively little human intervention. Payment is then made electronically into your bank account.
This speed compares to standard personal loans that could take a few days to payout and to secured loans that can take a couple of weeks (because the process also includes property valuations and additional legal paperwork).
For a loan to be fast and for it to pay out the same day as you apply requires the use of online technology from end to end. From the point of application all the way through to the crediting of your bank account with the funds you’ve applied for. You apply online and the lender conducts the credit checking and affordability assessment instantly. The use of online credit referencing allows the credit check to be done in moments while you wait. The affordability assessment is made possible via the use of open banking. Assuming your application is successful the lender uses electronic funds transfer (EFT) to instantly pay the money to your bank account.
First, you need to choose which type of fast loan to use. Then it is merely a case of following the application process for that loan. Unless you choose a doorstep loan the application process will be fully online allowing you to get your loan into your bank account within an hour or two once your application has been approved. In the case of a doorstep loan, you apply online but you don’t have to have a bank account. This means you’d receive your loan as cash that’s brought to you at home. If you do have a bank account then the funds will be credited to it which actually means the process is speeded up.
Yes, you can get a loan today if you choose to use an instalment loan or payday loan. These types of loan are 100% online from the point where you apply to the payment of your loan into your bank account.
Payday loans are capable of giving you up to £1000 within an hour or two. They manage to be this fast because they utilise a fully online process that includes a credit check and affordability assessment.
We’ll help you get your loan quickly. We work with lenders who offer a 100% online service that allows them to process your application and deliver your loan in as little as one or two hours. Take a look at the quick loan options open to you.
If you don’t have a bank account you can still get a loan relatively quickly. By applying for a doorstep loan you can get your cash loan brought to you at home within a couple of days of being accepted.
Wonga was a payday lender where you could get a loan within one hour and repay it within the following month. Payday lenders still exist, but there’s also the slightly more flexible option of an instalment loan. You can still get a loan within one to two hours of applying, but you can pay the loan back over a number of months. Find out more.
Our fast loans don’t need you to provide any security. They are unsecured so you are not putting any valuables or personal possessions at risk. If the loans were secured it would not be possible to call them quick loans because the process used to value the asset always takes time and cannot be done online.
None of our quick loans needs you to provide a guarantor. The use of a guarantor always slows down the application process and it is not uncommon for a lender to reject the first and even second guarantor offered to them.
Being a student should not affect your application for a quick loan. So long as you have an income and can demonstrate you can afford the repayments you should be able to get the credit you want. But do take care not to take on more debt than you can manage. It is far better to try to cut your costs and live within your means.
With our quick loans, the major concern is normally affordability rather than credit rating unless your credit history is very poor. If your rating is this bad then it is likely that a lender will reject your application. But in simple terms, all the loans we have that offer fast payouts will consider applicants with a bad credit rating.
There is no such thing as a quick loan with no credit check. All lenders will credit check you if for no other reason than they need to check your identity for anti-fraud reasons. Lenders will probably have more interest in knowing that you can afford the repayments than being concerned about some mild blemished to your credit history. However, if your credit file shows a wanton disregard to repaying debts they may choose not to provide you with credit.
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