5 Best Online Platforms That Let You Borrow Money Instantly in UK

Last Updated on March 29, 2022

Are you planning to get a quick and instant loan from UK lenders that are regulated by the Financial Conduct Authority? You have reached the right place.

Borrow Money Online UK

We all have a moment in life when we urgently need money, perhaps for personal use or for other things to come and we need funds to survive, and getting a quick loan is perhaps the fastest way.

It’s not always easy to start a business, finance an idea, or even raise money for a rush deal. Sometimes we want to find the fastest ways to get the funds you need when you need to get a loan. This article talks about the best online loan platforms that let you borrow money instantly in the UK.

But before you borrow any money from lenders in the UK, you have to understand the monthly repayments that you must make, along with the amount that you are borrowing and the total amount of interest that you will have to pay back. And before you apply, please ensure that you can afford to make the repayments principal and interest.

5 Best Online Platforms That Let You Borrow Money Instantly in UK

1. My Quick Loan

This is also known as quick payday loans borrowed between the amounts of £100 to £5,000 and are designed to be repaid within a shorter period between 3 – 36 months, as opposed to traditional loan types. It has a representative APR of 648.6%.

The lender welcomes all credit histories whether you’ve got good credit or bad credit. They search the UK market to find the lowest interest rates available to you. The software works by passing your application details to a large panel of lenders within seconds.

Quick Loans requirement

To apply for quick online loans with My-Quick Loan you must meet the following basic requirements to get approved;

1. You must be 18 years or over

2. Have a regular source of income

3. Have an active bank account with a debit card

4. Be a UK resident.

You Can Also Read: 10 Instant Loan Apps That Let You Borrow Money in USA

If you meet the above criteria, then you can apply for up to £5,000 subject to your circumstances and approval.

2. Fast loan UK

The Fast loan UK  provides Quick Easy Loans for Everyday Lives including self employed and salary earners as long as you are able to prove your income…. Once all relevant checks have been carried out on your application, you will receive the funds and be able to use them on the same day. Lending decisions are based on many things. The most important being a secure income and the ability to afford the loan repayments in a sustainable manner.

At Fast Loan UK new customers are able to borrow for up to 241 days (8months) and returning trusted customers can borrow for up to 365 days (12 months), but you simply choose how long you would like to borrow and how many repayments you would like to make in that time, whether it be weekly, fortnightly, on a monthly basis, or in one payment.

To qualify for a fastloanuk loan, you must be a UK resident over the age of 18 at the time of applying, be in either part or full time employment, and get paid regularly. You must also be able to provide bank account and debit card details

How do I pay back my fast loan uk loan?

The vast majority of loan repayments are automatically taken from your bank account on scheduled repayment dates using the continuous payment authority.

Representative example:

Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.

3. Wageme Payday loan

Wageme allows borrowers to apply for Payday loans, Small Loans, Emergency Loans, No Credit Check Loans cash advances, Short-term loans between £50 to £5,000.The Loan terms are usually a month or less. Installment loans / short-terms advances are greater than a month

Loan Criteria

1. Over 18 years old

2. Employed

3. UK Bank Account

4. Visit our online application page for more info.

WageMe.com is fully authorized and regulated by the Financial Conduct Authority.

They have full permission to carry out consumer credit activities, including:

Entering into a regulated credit agreement,

1.Credit Lender,

2.Credit broking,

3.Debt adjusting,

4.Debt collecting,

5.Debt administration

Representative 49.9% APR. Example:

Amount of credit: £1,200 for 18 months at £90.46 per month. Total amount repayable of £1,628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. Rates from 45.3% APR to 1721% APR – we provide a no obligation quote, your APR will be based on your personal circumstances. The minimum repayment period for any loan will be 90 days from the date the loan is issued. The maximum repayment period is 3 years.

How to apply for Wageme loan

Looking for Short-term Loans? Payday loans alternatives. Borrow from £50, £100, £250, £500 to £5,000 with flexible repayment options from 1 to 18+ months. Apply online for a decision within minutes. wageme.com/payday-loans-uk-apply.php and fill in your information.

You mays also like to read: best payday loan Apps That Let You Borrow Money In UK

4. cashasap.co.uk

The cashasap.co.uk offers payday loans and multi month loans.One of the main features of a cashasap.co.uk instalment loan is that we are flexible and you have the flexibility to select the date when you want your repayments to start. You can choose the first repayment date to match your exact payday so it does not have to be exactly one month from the date that you apply.

The lender offers instant payday loans from £150 to £300 to all our new customers. For returning customers, they can offer an increased credit limit of up to £750, subject to affordability and creditworthiness assessment of the application.

For multi month loans, they can offer loan amount up to £100 – £300 as a new customer, however this can be increased up to £750 for returning cashasap.co.uk customers;

Qualification criteria for a quick UK loan?

You are welcome to apply for our quick loans if you meet these minimum criteria:

1. You are 18 years +

2. You are in full or part-time employment

3. You have a UK bank account with a linked debit card

4. You are a UK resident

5. You are able to afford the repayments over the term of the loan

Representative Example:

£180 loan for 3 months at a fixed interest rate of 290% pa. Total amount payable is £261.51 in monthly installments of £98.61, £88.60 and £74.30. This is based on the amount of credit plus interest, no other fees apply. Representative 1266.6% APR.

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