Access between £100 - £5,000 in just 15 minutes with our same day payout loans:
What Do Same Day Lenders Offer? What Exactly Are Same Day Loans?
If you need cash in a hurry, a same day loan is a great solution. You can access the cash you need within just 24-hours of receiving approval.
Unlike traditional bank loans, these loans are best used for short-term financial relief and are not designed to solve long-standing financial problems. Perhaps you need to pay for an unexpected emergency, or maybe you've ran out of money before payday? Same day payout loans will help cover you until you're back on your feet again.
They can be a little more expensive than a regular loan, but it's important to note that the convenience of the product is exactly what you pay extra for. For example, a bank can’t approve your loan application in a matter of minutes, or accept your application if you have a poor credit rating, but a same day loan provider can.
Same Day Loans from Flexy Finance:
Whether you call them payday loans, last-minute loans, or short-term loans, they can be a saving grace in times of financial difficulties. If you want to get the cash you need without the red tape often associated with traditional bank loans, and you need to access the money fast, you have come to the right place.
At Flexy Finance, we work dilligently to give our customers access to the best available rates & deals currently on the market. We pride ourselves on our speed of service, using cutting-edge technology to deliver loans online in 15 minutes. When you apply through us, you can 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 36-month period.
What's more, you can still qualify for a 24-hour 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 take into consideration both your personal situation and your ability to afford repayments, so that even those with poor credit ratings can access online loans the same day.
The Process Explained How Do Same Day Loans in the UK Work?
Most individuals seeking out a same day or payday loan in the UK are looking for short term financial relief. And that’s exactly why payday loans of 12 months or less have proved so popular, but many people don't truly understand exactly how they work.
When you apply for a same day payout loan you can have the cash transferred into your bank account within as little as 15 minutes. But, you will of course still need to provide evidence that you can afford repayments. In the below section we discuss the entire process from start to finish, so that you can feel confident making an application:
See How It Works In 60 Seconds
This browser does not support the video element.
How We Operate:
At Flexy Finance, you can apply for a same day loan online. We gather all of your details and use them to search an extensive panel of 15 minute loans direct lenders to find you an option that is perfectly suited to your needs and budget. In other words, we do all the hard work of finding you the perfect deal, so that you don’t have to! Better still, we don't charge any fees for using our service. Ever.
From applying for the loan online to receiving the money in your bank account, the entire process is completed in just 3 quick & simple steps:
Step 1 - Apply for Same Day Loans Online
Our online application form is quick and easy to complete. Simply fill-out the application from the comfort of your home, or on the go, using your mobile, desktop or tablet.
There’s absolutely no paperwork involved, and you won’t even need to make a phone call. All we ask is that you provide us with the following information: Read More »
Personal particulars – this includes your full name and ID number, email address, and telephone number.
Residential address – provide your full physical address and include length of stay at this residence and whether you are a homeowner, renter, council tenant, or living with family/friends.
Current employment status – if you are not employed, you will need to provide details of any form of income you receive that will enable you to repay the loan (government benefits, allowance etc). If you are employed, you must provide the company name, your role, your current salary, and the contact details of someone at the business that can verify your employment.
Affordability assessment or budget – you must provide details on all the bills and expenses you pay out each month. This helps us to determine whether you can afford same day loan repayments.
Banking details – you will need to provide us with your UK bank account details. These are used solely for verification purposes only, and we will not take any money from your account. With online loans, same day payouts are of course a massive perk, but in order to actually transfer the cash to you quickly the loan provider will need your bank details in advance. « Show Less
Step 2: Get an Instant Decision On Your Application
One of the greatest advantages to applying for a same day loan via Flexy Finance is that it won’t tarnish your credit record. If you apply for a loan with a variety of different lenders, it can quickly have a negative impact on your credit rating. However, when you apply through us, we're able to determine which lenders are most likely to accept you, so that your credit report isn't affected.
We simply carry out what is known as a “soft check” on your credit history to match you with a suitable lender. This will not leave a mark on your credit report. Following on from that, if any of our associated short-term lenders consider you a suitable candidate for a same day loan, they will then extend a loan offer to you. This is all usually done in 15 minutes or less. Read More »
Should you find the loan offer suitable, you can accept, and only then will a “hard check” be carried out on your credit file. This is the only credit check that will be noted on your credit record. By accepting the terms of your loan offer, you are bound by the terms and conditions of the loan contract. « Show Less
All legitimate FCA registered lenders are obligated to carry out credit and affordability checks on applicants before lending you any money. It is therefore illegal to provide a loan without carrying out a credit check, so be wary of any lenders offering 'same day loans no credit check’ deals. It is also worth noting that all of the direct lenders we work with are fully authorised and regulated by the FCA.
Step 3 – Repay in Low Monthly Instalments
Repayment amounts are always pre-agreed directly with the lender, prior to the exchange of any money, so you'll never encounter any costly surprises later down the line.
You can choose to repay over a period of anywhere between 1 - 36 months, so there's an option to suit everyone.
Pay Day 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. Read More »
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’. So, 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.
What many people don’t realise is that you can also use the repayments of a short-term payday loan to improve on 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. « Show Less
Things To Consider Before Applying Are Same Day Loans a Good Idea?
While any one will tell you that you should only borrow if necessary, the reality of the situation is that financial difficulties can arise at any time, all of the time. Even with a bit of financial planning, you may find yourself faced with unexpected expenses and emergencies that you simply don’t have the finances for.
When you need cash in a hurry, having to wait around and jump through hoops to get the cash you need can simply add to the stress. Unfortunately, traditional bank loans aren’t quick or easy to get, but same day loans are!
At Flexy Finance, we seek out short-term loans in the UK that can be custom built to your specific financial situation. Our online application is simple and if you meet the minimum requirements, the cash you need can be paid into your bank account on the very same day! We won’t keep you waiting around for approval either. We can deliver decisions within just 15 minutes and you can also select a repayment term that best suits your needs (from 1 to 36 months).
Are Same Day Loans Safe?
The Financial Conduct Authority (FCA) protects the rights of all loan applicants 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 loans 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:
- Sudden emergency that’s not insured against (think of the kitchen burning down, car accident, or 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 pay day.
- 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.
The list really does go on...
Is A Same Day Loan Right For You? The Benefits & Drawbacks of Same Day Pay Day 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 pros and the cons of the product will help you to decide if it’s the right option for you. For your convenience, a list of benefits and drawbacks surrounding same day lending are featured below:
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 are able to borrow.
- Credit score plays a role, but it is not the deciding factor in loan approval, which means far more people are able to successfully qualify for this type of finance.
- No need to provide any collateral as payday loans are entirely unsecured.
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? Same Day Loans for Bad Credit Made Easy
When it comes to same day loans, poor credit doesn’t have to hold you back.
It might not be as easy as getting a loan with a good credit record, and you may have to pay a slightly higher interest rate, but you can still qualify. In many respects, 15 minute loans are designed for people with bad credit. Life happens and finances can quickly become hard to juggle – this can lead to bad credit, but it doesn’t mean that you can’t still access affordable finance options.**
If a lender can see that you have made positive changes in your approach to finances and that you are able to afford the loan that you are applying for, you stand a far greater chance of having your loan approved. Of course, with same day loans, bad credit does have an impact, but it certainly isn't the only deciding factor when it comes to getting approved.
There is always a price to pay for convenience and in the case of payday loans with bad credit, the fee can come in the form of a high interest rate. That being said, when you apply for a same day loan using Flexy Finance, we work dilligently to pair applicants with loan providers who are most-likely to aceept and pay out the requested loan amount.
Remember, there really is no such thing as a no credit check loan. Your credit rating always matters, but it’s not the only deciding factor. Now that’s good news, isn’t it!
Can I get Same Day Loans with Low APR on Benefits?
In a nutshell, yes, it is possible to borrow money while on UK benefits. However, if you are on a lower-income scale and claiming benefits from the government, you probably won’t be eligible for a loan from traditional high street banks, but this does not mean that there aren't other options!
In fact, unemployed loans with same day payouts are designed for people exactly like you. We understand that being unemployed or on UK benefits often means even the smallest of surprise costs or changes to your lifestyle can quickly lead to further money shortages.
Of course, you need to be realistic. You should never apply for a loan that you cannot afford to repay. So always take the time to ensure that you do a bit of personal budgeting before you start applying.
FAQs Frequently Asked Questions
If we haven’t managed to answer your questions about same day and payday UK loans above, perhaps these FAQs can provide you with a little more insight. If not, feel free to contact us with your questions.
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.
- 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 even if you have bad credit you can still apply. We offer unemployed loans with same day payouts too, so there is an option for everyone.
I don’t have much time available. Will the process take long?
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 an assessment of your credit history, ability to repay the loan and any supporting documentation which you may need to provide.
When will I recieve the loan?
Loans are typically approved within 15 minutes, which means the cash can be paid into your bank account on the very same day.
How much can I loan and how long do I have to repay?
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 for loans to be paid off over as many as 36 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.
What is APR and what are loans with low APR?
APR is the financial abbreviation for Annual Percentage Rate. The APR is the total cost of the loan amount over a year period. You can use the APR to compare different loan offers as you will be able to accurately determine which loan will end up costing you more in the long run.
At Flexy Finance we work closely with an extensive panel of UK direct lenders, which means we are able to offer you the best deals and find you loans with low APR.
What happens if I change my mind or my situation changes? Can I cancel my loan?
The UK law protects all loan applicants when taking out a loan or line of credit. Applicants have the right to withdraw from the loan agreement within 14 days of accepting it. However, if you do cancel a loan, you will need to immediately repay all money already paid over to you, plus the interest accrued. It’s best to discuss loan cancellation terms directly with the loan provider. If you ever feel that a lender has not acted with the legally required due diligence or advised you correctly when offering you a payday same day loan, you can take action.
How can I improve my credit score?
There is no immediate way to increase your credit rating - if there was, we would tell you! Just like most valuable outcomes in life, building an improved credit score takes time and dedication. If you don't have a good credit score, and you're worried that you wont be accepted for finance, there are bad credit loan options available to you.
What happens if I find myself unable to make repayments?
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.
I don't live in the UK. Can I still apply for a loan with Flexy Finance?
Unfortunately, we can only assist UK citizens to get a loan.