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

Same Day Loans Online: Bad Credit Considered

Apply for up to £5,000 over a period of 1 to 60 months.

Representative Example: If you borrow £500 over 6 months at a rate of 25.5% per annum (variable) with a representative 46.19% APR you will make 6 monthly payments of £92.96, repaying £557.76 in total.

Warning: Late repayment can cause you serious money problems. For help, go to www.moneyhelper.org.uk/en.

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Understanding Same Day Loans Online: Bad Credit Considered

What is a same day loan?

A ‘same day loan’ is a short term payday loan which can be accessed within 24-hours of an application being accepted and approved by a lender. These loans are not designed to solve long-standing financial problems. These loans come with high interest so that they’re approved quickly.


Why should I apply for a same day loan from Flexy Finance?

At Flexy Finance, we work diligently to give our customers access to the best available rates & deals currently on the market. We pride ourselves on our service speed, using cutting-edge technology to deliver loans online in 15 minutes.

When you apply through us, you can apply to borrow a small loan amount of between £100 – £5,000, get the cash the very same day and spread the cost with low monthly instalments over a 1 to 24-month period.

What’s more, you can still qualify for a same day loan if you have bad credit, or even if you’re unemployed. When it comes to approval, we don’t just look at your credit score. We look at the bigger picture.

Flexy Finance considers your personal situation and your ability to afford repayments so that even those with poor credit ratings can access online loans the same day.

How much is the interest rate on a loan?

The current representative APR on the loans that we broker is 46.19%.

What does representative APR mean?

APR stands for ‘annual percentage rate’. It refers to the total cost of borrowing money over a year, including the interest and standard fees you have to pay. ‘Representative’ means that 51% of applicants will receive the same interest rate advertised or a lower amount.

For example, the representative rate Flexy Finance offers is 46.19%. Therefore 51% of customers will receive that rate of interest or lower. It is not a guarantee that customers will receive the same representative APR in their loan agreement.

Not everyone within the 51% will receive the same rate as the APR that is advertised. You will likely receive a personal rate which may be different from other applicants.

A personal rate may be higher, lower, or the same as the representative APR. It is usually determined by your credit score, how much you want to borrow, and your finances.

APR is often used as a comparison tool to help people compare different loan providers.

How can I get a same day loan?

You can get a same day loan by applying online directly via an FCA registered lender or credit broker. You will need to complete an online application form, which may require you to prove some documents to fulfil eligibility criteria.

Am I eligible for a same day loan?

Our loans are available to individuals who meet the following requirements:

  • 18 years of age or older.
  • A UK citizen.
  • Proof of regular income that can support the repayment instalments of a loan.
  • Valid UK bank account.
  • Provide the following information: employment details, bank account details, list of income and expenses, full name and ID number.

How does a same day loan work?

Applying for a same day loan is designed to be very simple. If you’d like to know more about how a same day loan works from applying to receiving funds in your account, check out our step-by-step guide below:

Payday loans 15 mins payout – How much do they cost?

The cost of your loan will ultimately depend on the interest rate attached. At Flexy Finance, we don’t charge any additional fees for finding you the perfect loan, but your credit rating can affect the interest rate you have to pay.

Those with a poor credit rating will likely be offered a loan with a higher interest rate. This is because the lender views individuals with a low credit score as ‘high risk’. The the best way to ensure that you always get offered the lowest possible interest rate is to handle your finances meticulously. Pay your bills and expenses on time and try to pay a little more than the absolute minimum amount expected.

Many people don’t realise that you can also use the repayments of a short-term payday loan to improve your current credit rating or score. If you would like to know more about what your personal credit score is, you can request a personal report from the likes of Experian.

A responsible same day loan provider will also ask you to submit a list of your earnings and expenses to ensure that you can actually afford the cost of the loan.

Are same day loans a good idea?

Deciding whether a same day loan is a good idea is ultimately down to the individual’s discretion. If you need to borrow money fast and are happy with higher interest rates, then the same day loan may be a viable option.

If you are struggling with long-standing or crippling debt, then it is advised not to take out another line of credit. Instead, it is a good idea to speak to Citizens Advice for any money problems you may be suffering from.

Are same day loans safe?

The Financial Conduct Authority (FCA) protects all loan applicants’ rights in the UK, regardless of whether they are long-term traditional loans or short-term same-day payout loans. If you are worried about the ethics or reputation of the same day loan company that you are using, you can always look them up on the FCA’s financial service’s register.

To give you some peace of mind, we only work with 15-minute loan direct lenders that are fully-authorised and regulated by the FCA.

The FCA regulates the entire process, so if you find yourself unhappy with the loan product you receive, you can always seek advice and guidance from the FCA.

What can I use a same day loan for?

In a nutshell, you can use this type of finance for anything you like. When you apply for a same day loan online, you won’t be interrogated about your intentions for the cash.

Some lenders might require a brief description or reason for the loan application, but that’s as far as it goes. Below are a few popular reasons people apply for same-day payday loans in the UK:

  • A sudden emergency that’s not insured against (think of the kitchen burning down, car accident, or a broken leg, just as examples).
  • Booking a much-needed family holiday.
  • A long month when bridging cash is needed to get you to the next payday.
  • Medical or health care that’s unexpected.
  • Vehicle breakdown.
  • Family visits (extra groceries and activities need to be covered).
  • Debt consolidation.
  • Overdrawn account or overspending on credit cards/accounts.
  • Children’s studies and activities.

Should I borrow money if I already have long-standing debt?

It is not advisable that you borrow money to cover long-standing debts. Borrowing money to cover long-standing debts or borrowing more than you can afford could lead to financial difficulties.

If you are having problems with debt, you can contact the following organisations who can provide free advice to people struggling with debt:

The benefits & drawbacks of same day payday loans

As with all things in life, payday loans with 15-minute payouts come with both benefits and drawbacks. One of the biggest perks for borrowers is that payday loans are also known as unsecured loans. This means that you don’t need to secure the loan using any of your valuable possessions. For example, using your home or vehicle.

Analysing both the product’s pros and cons will help you decide if it’s the right option. For your convenience, a list of benefits and drawbacks surrounding same day lending are featured below:

What are the benefits of payday loans?

  • 15-minute approvals and same-day payouts.
  • No paperwork, phone calls, or interrogative meetings with loan consultants.
  • You are protected against loaning too much as your current income and affordability determine just how much you can apply to borrow.
  • Credit score plays a role, but it is not the deciding factor in loan approval, which means far more people can successfully qualify for this type of finance.
  • No need to provide any collateral as payday loans are entirely unsecured.

What are the drawbacks of payday loans?

  • You need to prove affordability and a steady income.
  • High-interest rates are attached to payday loans, but remember this is because you are paying for the speed of service.
  • Payday loans provide small, short-term loan amounts, so they cannot be used to solve big, long-term financial problems.

Can I get a same day loan with bad credit?

You can get a same day loan with bad credit, although you may be limited to what type of loan you will receive. The loan will likely include a higher interest rate, and the lender may lend you the full amount you want.

Will I be accepted for a same day loan if I have bad credit?

If you have bad credit, you can still be accepted for a same day loan. However, having a bad credit rating will mean that lenders will see you as a risk. If you are deemed a risk, the loan may include high-interest rates and lenders may offer you less money. This means the loans can cost money.

Your credit score is not always a deciding factor when applying for a loan. A lender may consider various factors that affect whether or not you will be approved for a loan.

It is always important to remember that there is no such thing as a no-credit-check loan. It is required by law that lenders are required to provide a soft or hard credit check before lending. For more information on no-credit-check loans, check out our no-credit-check loan guide.

How can I check my credit score?

If you’re considering applying for a loan but are unsure what your credit score is, then it is a good idea to use a credit checker such as Experian to perform a credit check of your own. Experian can provide you with a credit rating that will allow you to check whether your credit score rating is good or bad.

Frequently Asked Questions

Our loans are available to individuals who meet the following requirements:

  • 18 years of age or older.
  • UK citizen.
  • Proof of regular income that can support the repayment instalments of a loan.
  • Valid UK bank account.
  • Provide the following information: employment details, bank account details, list of income and expenses, full name and ID number.

If you are unemployed, on benefits, or have bad credit, you can still apply. We offer unemployed loans with same day payouts too, so there is an option for everyone.

The Flexy Finance loan application process is quick and easy. You won’t have to leave your home or office. There’s no paperwork involved, no phone calls to make and no meetings with loan consultants. Just complete the online form and receive approval within minutes.

Pre-approval can be awarded in under ten minutes with many applicants receiving an instant online decision. Final approval is subject to several factors, including assessing your credit history, ability to repay the loan, and any supporting documentation you may need to provide.

Loans are typically approved within 15 minutes, which means the cash can be paid into your bank account on the very same day.


Same day payout loans are meant to be small and manageable. With Flexy Finance, you can loan any amount from £100 – £5,000 which you can pay off over a pre-selected number of months. 12-month options are the most typical, but lenders also allow loans to be paid off over as many as 60 months.

To gain a good understanding of how much you will likely be expected to repay, we suggest using Money Saving Expert’s free loan calculator.

If you default on repayments, usually a lender will charge you a late fee, or increase the interest rate. The amount that you will be charged depends entirely on which lender you are matched with, so be sure to find this out before finalising the loan agreement. However, to avoid additional charges, it goes without saying that it is in your very best interests to ensure that you always make repayments on time.

Unfortunately, we can only assist UK citizens to get a loan.

Applicants who receive state benefits may need special assistance in finding lenders and loan terms designed to suit their needs. At Flexy Finance, we specialise in helping customers find the best deals on short-term credit options.

How to Find Same Day Loans Online: Bad Credit Considered in Three Steps

Time Needed : 5 minutes
Check these steps to find out how easy it is to apply for a loan at Flexy Finance!
  • 1. Submit An Online Application Form​ for Same Day Loans Online: Bad Credit Considered

    Applying through Flexy Finance is always quick and easy. Simply complete our 1-2 page application form. You can apply on the go, or from the comfort of your own home. Better still, there are no calls or paperwork involved!

  • 2. We search a large panel of UK lenders

    We search a large panel of UK lenders in real time, so that we can deliver you an instant decision. Within seconds of applying you'll know if a lender has accepted you or not. Unlike banks, our lenders are able to issue loans to people from all different walks of life and accomodate a range of different credit scores. There's an option for everyone!

  • 3. Access The Cash

    The majority of lenders are able to deposit the cash direct to your account, within just 24 hours! We'll never charge you any fees and there is no paperwork to complete. There you have it, apply for up to £5,000 in the quickest and simplest way possible today

  • 1. Mobile, Laptop or Tablet.

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