Payday Loans Online

Payday Loans Online


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.


If you’re looking for a payday loan, payday loans online allow you to borrow up to £2,000. With a payday loan, the money can tide you over until your next pay date from work, known as your ‘payday.’

Payday loans online are usually for smaller expenses, but if you need to borrow more, you can apply for a cash loan without a guarantor over several months. Our online application takes just a few minutes to fill in and will provide you with an instant decision on screen, letting you know which payday loans provider is most suitable for you.

How Long Can I Borrow an Online Payday Loan For?

Flexible direct payday lenders usually offer payday loans online to UK customers that are repaid between one week and 35 days. If you need to borrow a larger amount, or want to repay over several instalments, then you can apply for an online instalment loan over several months.

When you apply for a payday loan, you can choose the date you’re looking to repay the funds, which will generally be the date you next receive your wages. This could be just a few days away, or a couple of weeks.

Can I Get a Payday Loan Fast?

You can get a payday loan quickly when you have an emergency cost. If your application is initially approved by a lender, we will direct you straight to them, so you can get your money fast. With My Financial Broker, we’ll get near enough an instant decision of whether you’re eligible for a loan. This means if your payday loan is approved, you could get your money on the same day.
As you can apply for payday loans online, the whole process is usually very quick. You don’t need to visit your local branch, and can apply from almost anywhere, using pretty much any device, from a smartphone or tablet to a desktop computer.

With a payday loan, you generally don’t need to send across lots of documentation, which can slow down the application process. With a larger loan, you may need to visit one of the lender’s local branches, and provide such paperwork.

Am I Eligible For a Payday Loan?

When it comes to payday loans online, most lenders will have slightly different lending criteria. However, most short term lenders will ask that you at least meet the basic requirements below:

  • Be aged 18 or above
  • Live in the UK, and have a UK based bank account
  • Be in part time or full time employment
  • Have a valid email address and own a mobile phone

Even if you have a less than perfect credit rating, if you meet the criteria above, you may be eligible for a payday loan. It should be noted though that if you have been made bankrupt recently, or entered into an insolvency agreement, you may find it more difficult to get payday loans online.
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Getting Payday Loans With Bad Credit

Payday loans online are intended to be for borrowers who need quick access to money and don’t have a good credit history. At My Financial Broker, we understand that not everyone can maintain a consistently good credit rating and circumstances can arise that lead to the occasional default or missed payment.

With this in mind, we are proud to offer alternatives that can assist people looking for bad credit loans. Our lenders will take a view on different credit histories and are more interested in your stable income and ability to repay on time. So even if you’ve been turned down previously, you may still be eligible for a payday loan.

When you apply for payday loans online, most lenders understand that very few people have a perfect credit history. Often something outside of your control will happen, to mean you fall behind on your payments, such as losing your job or taking a leave of absence from work. In such cases, your credit file will almost certainly be negatively affected, and as late or missed payments will probably stay on your credit report for a number of years, you could find it more difficult to take out loans for some time.

Payday loans allow people with bad credit to access funds when they need to, with lenders looking at an individual’s affordability as well as their credit history.

How Do Payday Loans Online Work?

You can apply for most payday loans online these days, with no paperwork or phone calls required to secure the money. Our application is completely online, so you can apply on the go, via your mobile phone. Simply use the sliders on our loan calculator to select the amount you need and how long you’ll need it for. Then, all you need to do is fill in our short one page application, and we’ll find you the best direct lender for you! If your loan application is approved by a lender, we will send you to them so that you can complete your payday loan application.

We work with direct lenders only, so you can have peace of mind knowing that your application is in the hands of a company that is fully authorised by the FCA and will process your payday loan from start to finish. There are no broker fees or hidden costs – you simply pay the interest that is accrued on your loan.

Repayments are collected on the date you choose, from your debit account. Similar to a direct debit, our lenders use something called continuous payment authority, which is a method used for recurring monthly payments. You are able to assign a date of the month that you would like repayment (typically your pay date from work) and this is when payments will be collected. It is fully automated, so there is no need to go to the bank, call up or make a manual repayment, as this is all taken care of. Simple.

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