Compare Short Term Loans

  • Clear and consistent information to help you make an informed decision
  • How does this comparison table work?
  • Compare short term lending products from 9 FCA-Authorised direct lenders

These are some of the 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?
£200
3 months

Search Results: £200 over 3 months

    • SafetyNet Credit logo
      Credit Line

      SafetyNet Credit

      • Available Amounts
        £100 to £500
      • Min/Max Terms
        No min or max term
      • Late Fees
        No fee
      • Total Amount Repayable
        £264.00 over 3 months

      Eligibility Criteria

      • 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
    • Satsuma logo

      Satsuma - Monthly

      • Available Amounts
        £100 to £1,000
      • Min/Max Terms
        3 Months to 1 Year
      • Late Fees
        No fee
      • Total Amount Repayable
        £295.20 over 3 months

      Eligibility Criteria

      • Must be aged between 18 and 74
      • Must receive a regular source of income through employment or otherwise
      • CCJs within the last 6 months not accepted
      • If you decide to repay early, you will receive a settlement quote valid for 28 days. This will include 28 days interest payable even where you settle the loan immediately.
      • 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
    • MYJAR logo

      MYJAR

      • Available Amounts
        £100 to £3,600
      • Min/Max Terms
        3 Months, 6 Months, or 1 Year
      • Late Fees
        Up to £15
      • Total Amount Repayable
        £299.55 over 3 months

      Eligibility Criteria

      • 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
    • PiggyBank logo

      PiggyBank

      • Available Amounts
        £100 to £1,000
      • Min/Max Terms
        1 Week to 5 Months
      • Late Fees
        £15
      • Total Amount Repayable
        £306.60 over 3 months

      Eligibility Criteria

      • 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
    • Wonga logo

      Wonga - Flexi Loan

      • Available Amounts
        £150 to £500
      • Min/Max Terms
        9 Weeks to 97 Days
      • Late Fees
        £15
      • Total Amount Repayable
        £306.60 over 3 months

      Eligibility Criteria

      • 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
    • QuickQuid logo

      QuickQuid

      • Available Amounts
        £50 to £1,000
      • Min/Max Terms
        1 to 3 Months
      • Late Fees
        £15
      • Total Amount Repayable
        £348.80 over 3 months

      Eligibility Criteria

      • Must be aged 18 or over
      • Must be in employed
      • Must have a UK bank account
      • CCJs accepted
      • UK residents only
      • Must have an email address
      • Bankruptcy, IVA or equivalents accepted

    Short term lenders that don't match your search

    • Uncle Buck logo

      Uncle Buck

      • Available Amounts
        £200 to £500
      • Min/Max Terms
        4 or 6 Months
      • Late Fees
        £15
      • Total Amount Repayable
        -

      Eligibility Criteria

      • Must be aged 18 or over
      • Must be employed
      • Must have a bank account and debit card
      • CCJs Accepted
      • UK residents only
      • Must have a mobile phone and email address
      • Must not be insolvent or have evidence of distress from CCJs or defaults, in last 12 months
      • Repeat customers eligible to apply for up to £1,000
    • Lending Stream logo

      Lending Stream

      • Available Amounts
        £50 to £800
      • Min/Max Terms
        6 Months
      • Late Fees
        Up to £15
      • Total Amount Repayable
        -

      Eligibility Criteria

      • 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
    • Pounds to Pocket logo

      Pounds to Pocket

      • Available Amounts
        £200 to £2,000
      • Min/Max Terms
        6 Months to 1 Year
      • Late Fees
        £15
      • Total Amount Repayable
        -

      Eligibility Criteria

      • Must be aged 18 or over
      • Must be in full-time or part-time employment
      • Must have a bank account
      • CCJs accepted
      • UK residents only
      • Must have an email address
      • Bankruptcy, IVA or equivalent accepted

    Other types of loan that you may be interested in

    • Everyday Loans logo

      Everyday Loans

      • Loan Type
        Unsecured
      • Representative APR
        93.6% APR
      • Available Amounts
        £1,000 to £15,000
      • Min / Max Terms
        2 to 5 years

      Eligibility Criteria

      • Must be aged 18 years and older
      • Must have the full right to live and work in the UK and will be a UK resident for the full length of the loan
      • Must be able to afford the repayments and demonstrate a regular income
      • Homeowners, tenants and living with parent(s) customers are accepted
    • Selfy Loans (Self-Employed Loans) logo

      Selfy Loans (Self-Employed Loans)

      • Loan Type
        Unsecured
      • Representative APR
        77.7% APR
      • Available Amounts
        £1,000 to £15,000
      • Min / Max Terms
        2 to 5 years

      Eligibility Criteria

      • Must be aged 23 to 75 years (sub-contractors minimum age 21 years)
      • Must have been self-employed for 2+ years
      • Must earn a minimum gross income of £15,000 per annum (Single or Joint); £10,000 for sub-contractors
      • No bankruptcy, Debt Management Arrangement or IVA
      • Must be able to prove 3 years address history via VR or documentation proving address.
    • Amigo Guarantor Loans logo

      Amigo Guarantor Loans

      • Loan Type
        Guarantor
      • Representative APR
        49.9% APR (variable)
      • Available Amounts
        £500 to £10,000
      • Min / Max Terms
        1 to 5 years

      Eligibility Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must not be on an active bankruptcy, IVA or equivalent
Compare Alternatives To Short Term Loans

Short Term Loans - General Information

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.

What should I do if I have been declined for a loan?

There are many reasons why an application for credit could be declined. Not all lenders use the same criteria when assessing an application for a loan, so it is possible that although you have been declined by one lender you may be approved by another.

However, you should think very carefully before making multiple loan applications. Most lenders will perform a credit search with a credit reference agency before declining your loan. Each search will be recorded, and multiple credit searches can have a negative affect on your credit score which will impact your ability to get credit in the future.

Understanding your credit profile can help you identify why you might have been refused credit. Usually, your first credit report and score is free, but you may then pay for subsequent checks. There are 3 main credit reference agencies used by lenders. Experian, Equifax and Callcredit. When you apply for credit, lenders will normally apply to one, two, or all three of them.

Free and impartial money advice is available at the Money Advice Service and Citizens Advice. These links will take you to their pages, which can help you understand more about how lenders decide whether to give you credit and what to do next.

Carefully consider if whether credit is the right thing for you. Late repayment can cause serious money problems. For help, go to moneyadviceservice.org.uk.

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.

Where can I get advice and help for debt issues?

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.

What is Reponsible 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.

How are short term loans regulated?

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).

We currently compare the following lenders

Important information

Knowyourmoney.co.uk is a free service with no charge to the user, for more details on how our site works click here.

Knowyourmoney.co.uk is a trading style of Notice Media Ltd, Registered Office: Floor 3 Haldin House, Old Bank of England Court, Queen Street, Norwich, Norfolk NR2 4SX Registered in England & Wales No 05409985 and also in accordance with the Data Protection Act (1988) Registration Number: Z955517X

Notice Media is authorised and regulated by the Financial Conduct Authority, FRN 771521. In respect of consumer credit, knowyourmoney.co.uk acts as a credit broker - not a lender.