Short Term Loans

  • Compare short term lending products from 10 FCA-Authorised direct lenders
  • Clear and consistent information to help you make an informed decision
  • Choose a loan that is suited to your individual circumstances and click to apply direct
  • How does this comparison table work?
[Close this]

Our short term loans table is designed to provide a clear and consistent comparisons of loans from direct lenders that offer products with minimum term lengths of 2 to 12 months.

What is Total Amount Payable and how is it calculated?
Our table includes a Total Amount Payable figure – this represents the full cost of paying back a loan of the amount and duration you specified. This lets you see how much the loan you searched for is likely to cost you from the lenders that we compare.

For consistency, Total Amount Payable is based on the following assumptions (or as close as possible depending on the lender's own product criteria):

  • Each month has 30 days
  • You take out a loan on the 1st of a month and pay back on the 30th
  • You make all agreed repayments on time

How are early repayment amounts calculated?
When you search for a loan term that is shorter than a lenders minimum term, but that lender allows borrowers to repay loans early, we'll still add them to your results. In these cases, the results are clearly labelled as early repayments and will include any fees/rebates that are applied by the lender for repaying early. Our early repayment calculations are based on the following assumptions (or as close as possible depending on the lender's own product criteria):

  • Each month has 30 days
  • The original loan is taken out on the maximum term available from the lender on the specified amount
  • Up until the loan is repaid early in full, all previous agreed repayments are made on time
  • Any rebates/fees are deducted/added to the total repayment amount figure

How do we display Short Term Loan search results?
Loan results are initially ordered by lowest Total Amount Payable to highest. After your initial search you can re-order your results to according to various criteria using the options above the table.

Under your search results we list the remaining short term lenders that didn't fit your search criteria. These will not include a Total Amount Payable and will be randomly ordered. To compare these lenders against the others you will need to adjust the loan amount/durations that you are searching for.

Please note:
All information in our short term loans comparison table is based on new borrowers – as returning customers taking further loans from a lender will often get a wider range of loan options. Please check with each lender for more information.

We make every effort to ensure that the information in our table is accurate and consistent but please note that the figures shown are only indicative and may not apply to any loan that you take out as these are based on the specific assumptions described and any loan you take out will be subject to the lender’s credit and affordability checks.

We have commercial arrangements with the lenders listed in the table. This does not cost you anything and does not affect the deal you are offered.

For more information on how our site works click here.

[Close this]

These are some of the lenders we compare

See the all lenders we compare

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

How much do you want to borrow?

Loan Amount
Duration

Search Results: £200 over 3 months

  • SafetyNet Credit Facility

  • Representative APR
    68.7% APR
  • Available Amounts
    £100 to £500
  • Total Amount Repayable
    £264.00 over 3 months
  • Min/Max Terms
    No min or max term
  • Late Fees
    No fee
  • Apply Now + Details
  • Is this loan right for you?

    This is a Credit Line. Apply once to get a running credit account with ongoing access. Draw down funds up to your credit limit whenever needed. Make additional repayments or repay your balance in full whenever you like with no penalties for early repayment.

    Minimum Requirements

    • Must be aged 18 or over
    • Must be in full-time or part-time employment or self-employed
    • Must have debit card and bank account into which salary is paid
    • Customers must submit bank account login details to apply for a loan
    • CCJs accepted
    • UK residents only
    • Minimum monthly income of £750
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalents not accepted
    Visit Website
  • Representative Example: Amount of credit: £500. Interest rate: 0.8% per day for up to 40 days (292% per annum (variable)). Representative 68.7% APR (variable).
  • Satsuma Loans (Weekly Repayment)

  • Representative APR
    1,575% APR
  • Available Amounts
    £100 to £1,000
  • Total Amount Repayable
    £286.26 over 3 months
  • Min/Max Terms
    13 to 52 weeks
  • Late Fees
    No fee
  • Apply Now + Details
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged between 18 and 74
    • Must receive an income from employment or self-employment
    • CCJs not accepted
    • Must be a UK resident
    • Must have a UK Bank account and debit card
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalents not accepted
    • Existing customers may borrow up to £2,000
    Visit Website
  • Representative Example: £400 loan repayable over 26 weeks. 26 weekly payments of £29.46. Rate of interest 183% p.a. fixed. Representative 1575% APR. Total amount payable is £765.96.
    Maximum APR: 1,575%
  • Satsuma Loans (Monthly Repayment)

  • Representative APR
    991% APR
  • Available Amounts
    £100 to £1,000
  • Total Amount Repayable
    £295.20 over 3 months
  • Min/Max Terms
    3 to 12 months
  • Late Fees
    No fee
  • Apply Now + Details
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged between 18 and 74
    • Must receive an income from employment or self-employment
    • CCJs not accepted
    • Must be a UK resident
    • Must have a UK Bank account and debit card
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalents not accepted
    • Existing customers may borrow up to £2,000
    Visit Website
  • Representative Example: £400 loan repayable over 6 months. 6 monthly payments of £126.40. Rate of interest 179% p.a. fixed. Representative 991% APR. Total amount payable is £758.40
    Maximum APR: 1,027.9%
  • Mr Lender

  • Representative APR
    1,245.7% APR
  • Available Amounts
    £200 to £500
  • Total Amount Repayable
    £296.00 over 3 months
  • Min/Max Terms
    3 to 6 months
  • Late Fees
    No fee
  • Apply Now + Details
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged 18 to 65
    • Must be in full-time or part-time employment
    • Must have a valid bank account and debit card
    • No CCJs in the last 3 years
    • UK residents only
    • Minimum monthly income of £700
    • Must have a mobile phone and email address
    • No bankruptcy, IVA or equivalents in the last 3 years
    • Existing customers may borrow up to £1,000
    Visit Website
  • Representative Example: Borrow £500 for 6 months, repay with 6 payments - payment 1: £203.33, payment 2: £183.33, payment 3: £163.33, payment 4: £143.33, payment 5: £123.34, payment 6: £103.34 . Rate of interest 0.80% per day on outstanding capital. Total repayable £920.00 (based on 30 day periods). Interest rate 292% per annum (fixed). Representative 1,245.7% APR.
    Maximum APR: 1,462.30%,
  • Piggy Bank

  • Representative APR
    1,270% APR
  • Available Amounts
    £150 to £1,000
  • Total Amount Repayable
    £296.00 over 3 months
  • Min/Max Terms
    2 months to 5 months
  • Late Fees
    £15
  • Apply Now + Details
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged 18 to 65
    • Must be in full-time or part-time employment or self-employed
    • Must have a bank account and debit card
    • No CCJs in the last 12 months and a maximum of 1
    • UK residents only
    • Must have a minimum monthly income of £650
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalents not accepted
    • Existing customers may borrow up to £1,000
    Visit Website
  • Representative Example: Amount of credit £200 for 2 months Total amount payable £273.58. Interest rate 292% (fixed). Interest £73.58. Representative 1270% APR.
    Maximum APR: 1,698.1%
  • MYJAR

  • Representative APR
    788% APR
  • Available Amounts
    £100 to £3,600
  • Total Amount Repayable
    £296.04 over 3 months
  • Min/Max Terms
    3 to 12 months
  • Late Fees
    Up to £15
  • Apply Now + Details
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged 18 or over
    • Must be in full-time or part-time employment, self-employed or on benefits
    • Must have a bank account and debit card
    • CCJs accepted
    • UK residents only
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalent accepted
    Visit Website
  • Representative Example: £500 for 6 months. Annual interest rate 238% (variable). 1 instalment of £142.10 & 5 equal instalments of £142.42. Total amount to repay £854.20. Representative 788% APR.
    Maximum APR: 1,326%
  • Wonga Flexi Loans

  • Representative APR
    1,286% APR
  • Available Amounts
    £150 to £500
  • Total Amount Repayable
    £301.38 over 3 months
  • Min/Max Terms
    69 to 115 days
  • Late Fees
    £15
  • Apply Now + Details
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged 18 or over
    • Must not be unemployed
    • Must have a bank account and debit card
    • CCJs not accepted
    • UK residents only
    • Must have a minimum net monthly income of £417
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalents not accepted
    • Existing customers may be able to borrow up to £1,500
    Visit Website
  • Representative Example: The representative APR is 1,286% APR. If you borrow £350 over 3 months at an interest rate of 292% pa (fixed), you would make three repayments of £175.04. The total amount payable will be £ 525.12.
    Maximum APR: 1,376%
  • Lending Stream

  • Representative APR
    967% APR
  • Available Amounts
    £50 to £800
  • Total Amount Repayable
    £317.60 over 3 months
    Total amount payable shown is based on paying the loan back early
  • Min/Max Terms
    6 months only
  • Late Fees
    Up to £15
  • Apply Now + Details
  • Total Amount Payable based on early repayment of a 6 month loan
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged 18 or over
    • Must be in full-time employment
    • Must have a bank account and debit card
    • CCJs accepted
    • UK residents only
    • Minimum monthly income of £400
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalents not accepted
    Visit Website
  • Representative Example: The Representative APR is 967% APR so if you borrow £200 over 6 months at 255.5% p.a. (fixed). Your first repayment will be £22.40 followed by £82.00, £72.48, £67.72, £56.80 and £48.68 the following months. You will repay £350.08 in total. This APR product is applicable only for the new customers. The returning customers will be offered 1272% APR product.
    Maximum APR: 1,698.1%
  • Wage Day Advance - Advance Plus

  • Representative APR
    1,272.28% APR
  • Available Amounts
    £100 to £500
  • Total Amount Repayable
    £326.09 over 3 months
    Total amount payable shown is based on paying the loan back early
  • Min/Max Terms
    4 to 6 months
  • Late Fees
    No fee
  • Apply Now + Details
  • Total Amount Payable based on early repayment of a 6 month loan
  • Is this loan right for you?

    This is an instalment loan. Instalment loans are repaid with a set number of scheduled payments over a set period of time. The number, frequency and cost of repayments will vary between providers and products.

    Minimum Requirements

    • Must be aged 18 to 65
    • Must be in full-time or part-time employment
    • Must have a bank account and debit card
    • CCJs accepted
    • UK residents only
    • Minimum monthly income of £1,000
    • Must have a mobile phone and email address
    • Bankruptcy, IVA or equivalent accepted
    • Existing customers may borrow up to £1,000
    Visit Website
  • Representative Example: Borrow £300 for 4 months. Total Repayable £464.71. Total charge for credit £164.71 comprising interest only. Interest rate 288.35% per annum (fixed). Representative APR 1272.28%
    Maximum APR: 1,307.8%

Lenders that don't match your search but you might be interested in.

  • Amigo Guarantor Loans

  • Representative APR
    49.9% APR
    (variable)
  • Available Amounts
    £500 to £7,500
  • Total Amount Repayable
    -
  • Min/Max Terms
    1 to 5 years
  • Late Fees
    n/a
  • Apply Now + Details
  • Is this loan right for you?

    This is a guarantor loan. A guarantor loan requires a second person - the guarantor - to co-sign the credit agreement along with the borrower guaranteeing that they will repay the loan should the borrower default on their repayments. Therefore, it is extremely important that the guarantor can afford the monthly repayments should they need to. Acceptance subject to affordability.

    Guarantor Minimum Requirements

    Borrower Minimum Requirements

    • Must be aged 18-75
    • Must be a UK resident
    • Must have a good credit history
    • Tenants and homeowners accepted
    • Must be aged 18-75
    • Must be a UK resident
    • Must not be on an active bankruptcy, IVA or equivalent
    Visit Website
  • Representative Example: Borrowing £4000 over 36 months, repaying £195.16 per month, total repayable £7,025.76. Interest rate 49.9% (variable). Representative 49.9% APR (variable)
    Maximum APR: 49.9%

Short Term Loans Guide

A short term loan is a brief, unsecured method of borrowing, that can usually be set up very quickly. Such a loan could be used to help individuals manage unforeseen circumstances such as a financial emergency, or perhaps a rush of bills landing shortly before payday.

As with most borrowing solutions, short-term loans are expected to be repaid within a specific period of time - usually a minimum term of at least sixty days. By the time your agreed term is over, you will have been expected to pay back the original amount you borrowed, including the interest that was accrued in that time.

Short-term loans are not suitable for everyone and they are not the answer for people in serious debt due to the high interest rates. With some lenders the loan, once approved, can reach a person's bank account instantly.

Unsecured means that the loan is only supported by the borrower's creditworthiness - ie, their credit rating. For contrast, a secured loan uses an asset such as the borrower's home as collateral. Borrowers must usually have good credit ratings to be accepted for unsecured loans.

Frequently Asked Questions

Can I make a Short Term Loan work for me?

Individuals can make a short term loan work for their needs, so long as they carefully research the product and associated costs and put a plan in place for repayments. Most people start by searching for a short term loan that offers relatively reasonable interest rates and set up a payment schedule as per the agreement.

Are there any alternatives to Short Term Loans?

When borrowing money, it's worth considering your circumstances as carefully as possible so that you can ensure you choose the form of credit most beneficial to you. For instance, aside from short-term loans, you might also consider the flexibility of alternative methods, such as credit cards.

Using your credit card to make an emergency purchase if you are not over your current limit can be an even faster solution. It can be easier to simply pay back money borrowed through a credit card, and allows more choice to pay back a loan faster or slower. However, it is important to remember that you shouldn't use your credit card as a way of spending beyond your means.

Should I get a Short Term Loan?

Unsecured short term loans aren't necessarily the best solution for everyone.

Firstly, you will probably need a good credit rating to be accepted in the first place. In order for such a borrowing opportunity to be applicable to your circumstances, you will need to consider whether you have the capacity to pay the money you borrow back in the correct space of time.

Lenders will also consider the fact that failing to pay back a short term loan on time can have a serious impact on your credit score, meaning that you struggle to apply for a credit card, mortgage, or mobile phone account in the future. With that in mind, it's important to be cautious and realistic with your decision. However, if you know that you will have the money to pay back the loan and you have an urgent need, a short term loan may well be the right choice for you.

How much will a Short Term Loan cost?

Costs for short term loans vary. We cannot emphasise enough the importance of doing your research and finding a product that is suitable for you! Make sure that you feel in control of the decision you make and you do not allow a company to talk you into a product you're not comfortable with. That also applies to lead generators - firms representing the lenders.

Can I repay My Short Term Loan early?

In accordance with Consumer Credit (Early Settlement) Regulations 2004, you can repay your loan early. Lenders can charge up to 58 day's interest on early settlement but many only charge you interest for the period borrowed. Make sure you check a lenders Early Settlement Policy before you take out a short-term loan.

How do I make repayments on my loan?

Short Term Loans may use a Continuous Payment Authority (CPA), which permits lenders to take your repayments, usually via a debit card, from your bank account. Alternatively, it may be via a direct debit arrangement. You should research and be clear on the method of your repayments, dates and amounts before you agree to a short term loan.

What will happen if I miss a payment on a Short Term Loan?

Though your primary aim should be to ensure that you make your monthly repayments on time, it is worth learning what will happen if you were to make a late payment, perhaps before you apply.

You will also need to find out when the lender will attempt to retrieve payment again after you default (miss the original payment). The penalties for late repayments on this type of finance can be very high so do everything you can to avoid this eventuality.

What's the difference between a short-term loan and a payday loan?

While they share some of the same characteristics in offering funds that can be paid back quickly with a high interest rates, generally 'payday loans' must be paid back within a month - in time of the applicant's next payday. Know Your Money does not compare payday loans.

What is an unauthorised lender, and why should I avoid them?

Any lender or broker that is not authorised by the Financial Conduct Authority is known as an unauthorised lender. Any company, business or person operating as a lender without the correct authorisation is acting illegally, while any person borrowing from such a source should know that they will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme if things turn awry.

Unauthorised lenders generally tend to target people who are more vulnerable. They may use tactics such as cold calls and spam emails to elicit business or demand repayment, and may ask for application fees or upfront payments.

The Financial Conduct Authority lists authorised companies, persons, or products in its Financial Services Register. Know Your Money does not feature unauthorised lenders in its pages.

My loan application was declined - where can I find out more about loan decisions?

There are many reasons that an application for credit through a credit card or loan could be declined. Reasons could include the fact that your credit history shows late or missed payments, or that there are concerns you would not be able to pay the loan back.

A company should be able to tell you if the unsuccessful application was due to something that was discovered upon a search of your credit file, and which credit reference agency was used. Other sites can help you discover more on why you may have been refused, such as credit reference company Experian, The Money Advice Service, and Citizen's Advice.

Where Can I Find Out More About a Lender?

The Financial Ombudsman Service publishes data about the number of complaints that it has received about companies that exceed a specific threshold. You might also be able to check reviews and ratings of potential companies that you may borrow from, in other professional consumer groups and social communities.

Remember that Advice and Help on Debt is Available

Regardless of whether you choose to pursue an unsecured short term loan or not, it's important to remember that if you are experiencing financial difficulties, there are a number of charitable and government-based services available that can provide advice and support.

These organisations can be particularly useful in helping you to identify the best financial solutions to your existing problems, from directing you towards methods of consolidating your debt, to helping you find tools that will allow you to manage your money more efficiently. You can find the Government's money advice service for guidance on debt-related issues here, or try free debt charities such as StepChange, Citizens Advice Bureau and the National Debtline.

Responsible lending

A loan or credit company has a responsibility to act in a customer's best interests, by ensuring that any money that is lent to them is done so on the proviso that they understand its details and how it will be paid back.

One of the FCA's top priorities is the managing of affordability in the UK credit industry. Thorough checks should be conducted prior to the loan/credit being agreed, so that the lender can be confident that customers are suitable borrowers for a given financial product.

Responsible lending also implies a full assessment the effect a financial arrangement would have on a customer, and supporting the customer if they fall into financial difficulties when paying back the money.

Regulation for Short Term Loans

If you believe that a short term loan is the best solution for your current situation, then you may find that it's helpful to have access to some of the industry responsible for regulating this type of borrowing. Useful websites include:

The Financial Conduct Authority: The FCA, or Financial Conduct Authority, is the industry regulator responsible for enforcing and promoting fair practice in the lending sector. Since overtaking the regulation of the consumer credit industry in April 2014, the FCA has introduced tougher rules for lending and its promotion, and delivered greater protection to borrowers.

As short term loans are regulated by the FCA, if you feel you have to complain and it has not been resolved to your satisfaction you might wish to refer your complaint to an Independent Resolution Service (known as ADR or Alternative Dispute Resolution). Full information can be found at The Financial Ombudsman Service (FOS), to be supported by Financial Services Compensation Services (FSCS)

The Good Practice Customer Charter is for customers who have taken out a short term loan with a lender who is a member of any of the four main credit trade associations. It aims to give clarity and guidance to all parties involved, and extends more consumer rights than those provided by law. Details can be found at the Consumer Credit Trade Association (CCTA).