Payday loans are expensive and should only be used for short term borrowing. Make sure you understand the costs before you apply.

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

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

Debt problems? Get free confidential advice from StepChange Debt Charity on 0800 138 1111.

Your loan may be automatically extended if you don't repay it in full, this may impact your credit score and cost you extra in fees and interest. Failure to pay could mean you face collection action. If you already have a payday loan don't take out another as cheaper options are available; our guides explain.

sunny.co.uk Short Term Credit Account | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||
---|---|---|---|---|---|

1,971% APR (variable) | £100 to £1,000 | 5 months | £128.99 over 30 days | ||

No transfer fees. No late payment fees. Flexible repayment schedules over 1 to 5 months. | |||||

Representative example: The Representative APR is 1,971% APR so if you borrow £350 over 12 months at a rate of 348% p.a. (variable) you will repay 12 monthly payments of £105.65 and £1267.80 in total. | |||||

Satsuma Loans Short Term Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

794% APR | £100 to £500 | 26 weeks | £140.01 over 13 weeks | ||

There are absolutely no extra fees or charges whatsoever. 97% of our customers would use us again. | |||||

Representative Example: The Representative APR is 794% APR so if you borrow £260 over 26 weeks at a rate of 136.1% p.a. (fixed) you will repay £16.80 per week and £436.80 in total. | |||||

QuickQuid Payday Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,999% APR | varies to £1,000 | 5 months | £128.50 over 30 days | ||

Use code MONEYQ10 to save 10% on your initial interest rate. No hidden fees. | |||||

Representative Example: The Representative APR is 1,999% APR so if you borrow £200 over 31 days at a rate of 347% p.a. (fixed) you will repay £258.90.Interest £58.90. | |||||

MrLender.com Short Term Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

2,261% APR | £80 to £1,000 | 6 months | £130 over 28 days | ||

If you want the money the same day you'll need to pay a £10 faster payment fee. | |||||

Representative Example: The Representative APR is 2261% APR (fixed) so for a £500 loan, less a £7 administration fee and £10 same day transfer fee over 5 months, you will borrow £483 at 30% p.a (fixed), Your first repayment will be £250 followed by £220, £190, £160 and £130 the following months. You will pay £450 in interest and £950 in total. | |||||

Lending Stream Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1960.5% APR | £50 to £800 | 6 months | £200 over 6 months | ||

Representative Example: The Representative APR is 1960.5% APR so if you borrow £200 over 6 months at 314.7% p.a. (fixed) your first repayment will be £50 followed by £90, £80, £70, £60 and £50 the following months. You will pay £200 in interest and repay £400 in total. | |||||

Pounds to Pocket Short Term Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

278% APR | £200 to £2,000 | 12 months | - | ||

Representative Example: The Representative APR is 278% APR so if you borrow £500 over 12 months at a rate of 140% p.a. (fixed) you will repay £79.09 per month and £949.01 in total. | |||||

Peachy Loans Short Term Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,183% APR | £50 to £500 | 5 months | £133 over 28 days | ||

Representative Example: The Representative APR is 1,183% APR so if you borrow £200 over 61 days at 365% p.a. (fixed) you will repay £151.08 each 30 days. You will repay £97.16 in interest, a £5 transmission fee and £302.16 in total. | |||||

QuickQuid FlexCredit | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,362% APR (variable) | £100 to £1,000 | 10 months | £235.94 over 10 months | ||

Use code MONEYQ10 to save 10% off initial loan fees. | |||||

Representative Example: The Representative APR is 1,362% APR so if you borrow £1200 over 10 months at a rate of 300% p.a. you will repay £2,831.34. | |||||

different money PaydayLoan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,352% APR | £150 to £2,500 | 360 days | - | ||

Short term instalment loans and provider. No transfer fees and capped interest | |||||

Representative Example: The Representative APR is 1352% APR so if you borrow £400 for 4 months at 292% p.a. (variable) you will repay £164.07 per month. You will repay £256.28 in interest and £656.28 in total. | |||||

CashCowNow Payday Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,737% APR | £100 to £1,000 | 31 days | £125 over 31 days | ||

This is a payday loan broker, they will search other payday loan companies to find you a loan.
If you want the money the same day you may need to pay a faster payment fee. | |||||

Representative Example: The Representative APR is 1,737% APR so if you borrow £100 over 31 days at 296% p.a. (fixed) you will pay £25 in interest and repay £125 in total. | |||||

Payday Pig Payday Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,737% APR | £100 to £1,000 | 31 days | £125 over 31 days | ||

This is a payday loan broker, they will search other payday loan companies to find you a loan. If you want the money the same day you may need to pay a faster payment fee. | |||||

Representative Example: The Representative APR is 1737% APR so if you borrow £100 over 31 days at 296% p.a. (fixed) you will repay £25 in interest and £125 in total. | |||||

UK Payday Today Payday Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

2,327.87% APR | £100 to £1,000 | 18 months | - | ||

This is a payday loan broker, they will search other payday loan companies to find you a loan. | |||||

Representative Example: The Representative APR is 2,327.87% APR so if you borrow £275 over 28 days at a rate of 359.4% p.a. (fixed) you will repay a total of £357.36. | |||||

Tide u Over Payday Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,734% APR | £100 to £500 | 39 days | £135 over 30 days | ||

Representative Example: The Representative APR is 1,734% APR so if you borrow £200 over 28 days at a rate of 326% p.a. (fixed) you will repay £261 in total. | |||||

Savvy Loans Term Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

161.32% APR | £400 to £1,000 | 12 years | - | ||

Representative Example: The Representative APR is 161.32% APR so if you borrow £1,000 over 12 months at rate of 100% p.a. fixed you will repay £135.00 per month and £1,620.00 in total. The total charge for credit is £620.00. | |||||

Wageme.com Payday Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1221.5% APR | £50 to £750 | 30 days | £124 over 30 days | ||

If you want the money the same day you have to pay a fast payment fee of £15. | |||||

Representative Example: The Representative APR is 1221.5% APR so if you borrow £100 over 30 days at a rate of 24% p.a. (fixed) you will repay £124. | |||||

KwikPayday Payday Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

2,670% APR | £10 to £1,000 | 28 days | £129 over 28 days | ||

This is a payday loan broker, they will search other payday loan companies to find you a loan.
If you want the money the same day you may need to pay a faster payment fee. | |||||

Representative Example :The Representative APR is 2,670% APR so if you borrow £200 over 28 days at 378% p.a. (fixed) you will repay £58 in interest and £258 in total. | |||||

Kwik Cash Short Term Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

2,670% APR | £80 to £1,000 | 6 months | £129 over 28 days | ||

This is a payday loan broker, they will search other payday loan companies to find you a loan.
If you want the money the same day you may need to pay a faster payment fee. | |||||

Representative Example: The Representative APR is 2,670% APR so if you borrow £200 over 28 days at 378% p.a (fixed) you will repay £58 in interest and £258 in total. | |||||

Ladder Loans Short Term Loan | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

299% APR | £500 to £1,500 | 18 months | - | ||

Representative Example: The Representative APR is 299% APR so if you borrow £1,000 over 12 months at 147% p.a. (fixed) you will repay £163.10 per month. You will repay £957.20 in interest and £1,957.20 in total. | |||||

QuickQuid Payday Loan (3 Pay Period) | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,999% APR | varies to £1,000 | 5 months | £185.50 over 30 days | ||

Use code MONEYQ10 to save 10% on your initial interest rate. No hidden fees. | |||||

Representative Example: The Representative APR is 1,999% APR so if you borrow £200 over 31 days at a rate of 347% p.a. (fixed) you will repay £259. | |||||

QuickQuid Payday Loan (1 Pay Period) | |||||

Representative APR | Loan Amount | Maximum Term | Repayment for £100 | ||

1,999% APR | varies to £1,000 | 5 months | £128.50 over 30 days | ||

Use code MONEYQ10 to save 10% on your initial interest rate. No hidden fees. | |||||

Representative Example: The Representative APR is 1,999% APR so if you borrow £200 over 31 days at a rate of 347% p.a. (fixed) you will repay £259. |

money.co.uk, Dot Zinc Limited, 160 Fleet Street, London. EC4A 2DQ. We are a Credit Broker for all consumer credit products listed on money.co.uk.

We provide an independent comparison service free of charge but we may receive a commission from some of the companies we refer you to. These are indicated with purple buttons.

Here is some important information about the practices used by many of the payday lenders we list on money.co.uk. To find out about the specific practices and charges applied by your chosen payday loan lender you will need to check their website and read their terms and conditions carefully before you apply.

You should always make repayments on your payday loan on time and in full. The interest rates and information we list in our comparison tables assume that you will do this. Payday loan lenders each have their own policies regarding non-payment, this affects the additional interest and charges they apply and the debt collection practices they use.

If you do not make your agreed repayments on time then you are likely to be charged extra interest and additional fees. Some lenders will also take legal action if you repeatedly fail to repay. How much extra you are charged and the collection practices used for non-payment will depend on the payday loan lender you have borrowed from; you should check this before applying. Your payday loan payments will be taken out of your account automatically. However, if you do not have enough money in your account to cover the payment you are likely to incur extra charges. You are also likely to be charged interest on your balance at that point; this may be more than the original amount you borrowed.

If you think you may have difficulty making a repayment you should contact your lender immediately. Failure to do so could impact your credit score and result in additional charges.

Non-payment will also be recorded on your credit file. Repeated non-payment may have a negative impact on your credit rating and affect your eligibility for future borrowing. You should always make repayments on time and in full to avoid any repercussions on your credit rating.

It is not advisable to renew or extend a payday loan. However, if you do need to you should contact your lender to arrange an extension before they try to take payment. Most payday loan lenders will charge you an extension fee and additional interest on your total outstanding balance. Some lenders will automatically renew or extend your payday loan if you do not make an agreed repayment. This is likely to cost you extra in additional fees, interest and charges. You should check your chosen lender’s approach to payday loan extensions before you apply.

If you fail to make an agreed repayment on a payday loan most lenders will contact you by phone, post or email to rearrange your repayment. If you repeatedly fail to make repayments then they may use collection practices or take legal action. You should familiarise yourself with the collection practices of your chosen payday lender before you apply.

If you are struggling to make repayments on a payday loan you should contact your lender right away. You can also get free advice from debt charities like StepChange, Citizens Advice Bureau and the National Debtline.

If you need to borrow £500 to keep you going in the short term, your choices will be limited if you have a poor credit rating. If you get a payday loan, what you owe could quickly spiral out of control, so we've looked into how you can prevent this.

Payday loans are aimed at those with bad credit, offering quick access to cash, so they may seem like the right choice if you have a poor credit rating and need a loan fast.

However, it's worth looking into the alternatives too because they could work out a lot cheaper. This guide talks you through how else to borrow the money you need, such as using an overdraft, a credit card, or borrowing from a friend: What is the Best Way to Borrow Money Until Payday?

If you decide a payday loan is your only option, you'll need to be careful - they can be dangerous if you can't pay them off quickly and they aren't suitable for the long term. Here's what you need to know...

## How do payday loans work?

When you've picked a lender, you can let them know how much you need to borrow and for how long, although some are more flexible on this than others.

Once the form-filling is complete, they'll transfer the money to your bank account, and it'll often be available for withdrawal straight away; it will start to generate interest just as quickly too.

The total amount you'll pay should be made clear when you take the loan out, then the amount you owe will be deducted from your account on the agreed date.

## How to find the best £500 loan

Each company will have different rules on when you need to pay back what you owe. Borrowing for longer is usually a lot more expensive, but make sure you choose a repayment date that gives you enough time to raise enough to pay it back as rolling the loan over is a very expensive option.

Check the interest rates and charges, as how much the loan company charge per £100 will determine how much the loan will cost you.

## What are the risks of a £500 payday loan?

Payday loans cost so much because of their high interest rates and the fees they impose for borrowing - this will make it even more expensive if you don't pay the money back quickly.

If you don't pay the loan back by the agreed date, you'll face more fees, further pushing up the amount you owe and making it harder for you to pay it off.

As well as increasing what you owe, missing payments will also impact your credit rating, making it even harder to borrow in the future and limiting your options further. Even if you keep up with repayments, just seeing that you've taken payday loans in the past is enough to put off some mortgage lenders so you should think twice before you go down this route and consider all the other possible options before committing to a payday loan.