Instant Payday Loans

Instant Payday Loans


489.4% APR

Representative Example: On an assumed loan amount of £750 over 12 months. Rate of interest 191.2% (fixed). Total repayment amount £1726.68 and total interest is £976.68. 12 monthly payments of £143.89. My Financial Broker is a broker, not a lender*.

* As a broker, we are unable to ascertain exactly how many customers take out a loan or the lender’s rate of interest particular to that customer, therefore our calculation is based on the mean APR of our panel of lenders.


Instant payday loans are useful if you have an unexpected expense that needs to be paid for as soon as possible. If you’re looking for an instant payday loan online, there are a few things to consider.

How to Get an Instant Loan

Fortunately, when you urgently need to borrow cash to cover an expense, it is possible to get an instant decision loan. There are various types of instant loans in the UK, such as payday loans, which can be approved immediately. Your money can even be transferred to your bank account within hours. At My Financial Broker, we work with several lenders who can offer instant loan approvals if you’re in a tight spot!

How Long Will it Take?

Once you have completed the lender’s application form and you’ve gone through the necessary credit and affordability checks, if you’re accepted you should have the money within hours. Sometimes it’s just not an option to wait until your next payday.
With other types of credit – like the personal loans offered by banks, it can take up to three days for the application to be processed and the funds to be sent. So if you need the money as soon as possible, a short term lender is likely to be able to give you a fast decision, although this will often come with a slightly higher interest rate.

What is a Payday Loan?

A payday loan is a type of short term personal loan that is generally repaid in one full repayment, typically on your next payday. An instalment loan, which is repaid over agreed monthly payments, is usually for a larger amount than a payday loan, as a big lump sum would be difficult to repay. An instant payday loan is therefore useful for people who need to cover an unexpected cost and can repay the amount in a few days or weeks.

The benefit of a payday loan is that you only pay back the interest for the time borrowed. Taking out a larger loan than you need, over a lengthy period of time, can mean you pay back a lot in interest. But if you only need to borrow the funds for a short while, you won’t have to pay excess interest with a payday loan. And in almost every case there are no early repayment fees! In terms of interest, if you were looking to borrow £200 over 7 days, you’d only be paying back approximately £10 in interest. This can be a much cheaper option than using a credit card or dipping into your overdraft.
Colleagues outside

Getting an Instant Loan With Bad Credit

People of all credit histories can apply for loans with an instant decision. These instant payday loans are often used by people in the UK with poor credit scores if they are unable to use other forms of credit like an arranged overdraft or a credit card. Payday lenders will take into account things such as your employment history and income and expenditure, not just your credit score, when making a loan decision. So even if you have been turned down by other lenders in the past, due to your poor credit history, you should still be eligible for an instant payday loan.

Based on your application, we will quickly find you a suitable direct lender who can offer you a fast cash loan. You can then have the funds you need in your bank account in as little as one hour after approval.

How to Apply for an Instant Payday Loan

Our application process is simple, and should only take a few minutes to complete. First, select the amount you’re looking to borrow, and the length of the loan. We’ll then ask you for a few personal details, information about your employer and income, as well as your expenditure and bank details.

Next, we will give you an immediate decision on screen, and you’ll be put in touch with the perfect direct lender that can transfer you the funds you need.

Instant Payday Loan Eligibility

In terms of eligibility, you will need to be aged 18 or over, and be living and working in the UK – this can be part time or full time employment. You’ll also need to have a UK bank account and a mobile phone.

You don’t need a perfect credit score to apply for a payday loan – as long as you’re able to comfortably make the repayments, most payday lenders will consider your application.

You should bear in mind though, that if you have recently entered into an insolvency agreement or filed for bankruptcy, you may find it more difficult to take out future credit. Some lenders can also turn down your application if you have had too many CCJs in the last year or so – if this is the case, you may need to approach a specialist bad credit lender. My Financial Broker work with several direct lenders that will consider your application even if you have a poor credit history.

Shop Around

When taking out any loan, it’s important to do a little research. We’ve all heard of lenders like Satsuma and Lending Stream, but how much do you know about the services they offer? It’s important to make sure that the direct lender you choose has everything you’re looking for. Are you able to pay back on the dates you want to? What is their customer service like? It can be helpful to look at reviews to see what other people are saying.

My Financial Broker will look into these details for you. As we only work with responsible lenders, you can also be sure that the lender we match you with will be fully authorised and regulated by the Financial Conduct Authority (FCA), and will treat all their customers fairly.
It’s important to note that if you are looking for a loan to repay other credit, or if you’re experiencing long term financial difficulty, taking out a short term loan won’t be the best option. If you are able to save for something, this is generally a better choice too. If you are concerned about your finances, you can contact companies like Step Change, for free, impartial help and advice.

Why Use My Financial Broker?

By using a broker service, you can save yourself a lot of time. Rather than compare the interest rates of various lenders, and completing numerous application forms for each one, we’ll do the hard work for you. My Financial Broker will find you the cheapest lender for your circumstances, and you’ll only need to complete two application forms – our short application, and signing up for an account with the lender.

You can also be assured that you won’t ever be charged a fee for making an application with us, as we work on a commission basis with our lenders. Your details will be stored in our secure servers, and we won’t pass on your information without your express permission.

So if you’re looking for an instant decision payday loan, we can help! Simply click the button below to get started, and we will do our best to put you in touch with a suitable short term loan provider.

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