Representative example: borrow £600 for 8 months. 1st monthly repayment of £144.38, 6 monthly repayments of £192.50, last monthly repayment of £96.25. Total repayment £1,369.63. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74%. Our loans are available for 3 to 9 months depending on the loan amount — rates between 295.58% APR and a maximum APR of 1294%.
Representative example: borrow £600 for 8 months. 1st monthly repayment of £144.38, 6 monthly repayments of £192.50, last monthly repayment of £96.25. Total repayment £1,369.63. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74%. Our loans are available for 3 to 9 months depending on the loan amount — rates between 295.58% APR and a maximum APR of 1294%.
A payday loan is a small, high-cost, short-term loan traditionally intended to be repaid on or shortly after your next payday. Some lenders now offer short-term instalment products instead. Always check the actual repayment schedule, APR and total amount repayable.
High-cost short-term credit is regulated borrowing with a relatively high APR that is designed to be repaid over a short period. Payday loans are one example. The total cost matters more than the headline speed or monthly payment.
Yes. FCA rules cap the daily cost of high-cost short-term credit, default fees and the total amount a borrower can repay. The lender must still show the exact APR, charges and total amount repayable in the agreement.
No. Responsible UK lenders cannot guarantee approval or offer loans on a no-refusal basis. They must carry out appropriate creditworthiness and affordability checks before deciding whether to lend.
No responsible lender should promise a payday loan without appropriate checks. A lender may use credit reference information, Open Banking or other evidence to assess affordability and creditworthiness. Open Banking does not mean guaranteed approval or no checks.
A payday loan is a type of short-term borrowing traditionally repaid on or shortly after payday. Other short-term loans may use several instalments over a longer period. Product names can overlap, so check the actual agreement rather than relying on the label.
Decision and payment times vary between lenders. Checks, documents, the time of application and bank processing can all cause delays. Badger Loans cannot guarantee an instant decision, same-day payment or funds within an hour. Our Quick Loans page explains the application-speed side in more detail.
The lender sets the repayment method and dates. A traditional payday loan may be collected in one payment, while other short-term products use instalments. A Continuous Payment Authority may be used, but you should still make sure enough money is available and contact the lender before any payment is missed.
It may be possible, but approval is never guaranteed. The lender will assess affordability, income, expenditure, existing debts and credit information before deciding whether the loan is suitable.
It may. The type of search used can vary during the application process, and a lender should explain when a search may be recorded. Repeated applications in a short period can make future borrowing more difficult.
Traditional payday loans are usually for relatively small amounts. The amount offered depends on the lender’s limits and affordability assessment. Being eligible for more does not mean borrowing more is sensible.
The lender may check identity, income, regular expenditure, existing debts and credit information. It may also request documents or use Open Banking. The purpose is to assess creditworthiness and whether the repayments are affordable.
Compare the APR, total amount repayable, repayment dates, late-payment consequences and whether the payment remains affordable after essential bills. Do not accept an offer based only on speed or the amount available.
A lender may offer limited refinancing or rollover options, but repeated extensions can increase financial pressure and should not be treated as a long-term solution. Contact the lender early if repayment looks difficult.
Contact the lender before the payment is due and explain the problem. Missed payments may lead to charges and damage your credit record. Do not take another payday loan simply to cover the repayment.
Depending on the situation, alternatives may include asking the bill provider for time to pay, a credit union, an authorised overdraft, local welfare support, budgeting help or free debt advice. Explore lower-cost options before using high-cost short-term credit.
Payday loans are intended for a temporary financial gap or a one-off essential expense, such as an urgent household repair or an unexpected bill. They are not suitable for regular living costs, long-term borrowing or repeatedly covering a monthly shortfall. If the need is specifically urgent, our Emergency Loans page explains urgent borrowing in more detail. No Refusal or No Credit Check Payday Loans? No responsible UK lender can promise a no-refusal, guaranteed or no-credit-check payday loan. Regulated lenders must carry out appropriate creditworthiness and affordability checks before deciding whether borrowing is suitable. A lender may use Open Banking to review income and expenditure, but this is not the same as guaranteed approval or a loan without checks. Approval is never guaranteed, and applicants should be cautious of any website making these claims. Our Scam Advice section explains how to check a lender or broker before sharing personal information.
Before applying, compare the APR, repayment dates and total amount repayable, and make sure the payment will still be affordable after essential bills. Payday and other high-cost short-term loans should not be used to manage ongoing financial difficulties. If you are already struggling with regular expenses or existing debts, free support may be more appropriate than further borrowing. Badger Loans works as a credit broker with a panel of FCA-authorised lenders. We do not provide the loan or make the lending decision. You can read How It Works before applying and use our Budget Calculator to check whether a proposed repayment fits your finances. Repeated borrowing or rolling one loan into another can increase the risk of financial difficulty.
Traditional payday loans are normally for relatively small amounts and short repayment periods. The amount available depends on the lender’s product limits and its assessment of your income, regular expenditure, existing debts and credit history. First-time borrowers may be offered a lower amount. Some lenders now provide short-term instalment loans rather than a single payday repayment. These products can spread payments over several months, but a longer term may increase the total interest paid. For borrowing designed around several fixed instalments, see our Short Term Loans page. Borrow only what is needed and compare the total cost, not just the monthly payment.
If that sounds like you, you’re eligible to apply today!
Badger Loans works with a panel of up to 50 lenders in the UK. This helps improve your chances of being matched with a suitable loan from one of the lenders on our panel. With each lender having different requirements, you can maximise your chances of approval through Badger Loans. Every lender on our panel has been reviewed and vetted to ensure that they are fully authorised, regulated and trustworthy. With no upfront fees, you can receive an almost instant decision in up to 5 minutes and if successful, can receive funds on the same day. Sometimes within a few hours. We will not pass on your information to any other companies without your permission.
It may be possible to get a payday or short-term loan with bad credit, but approval is never guaranteed. Each lender has its own criteria and will consider affordability as well as information from credit reference agencies and other checks. Income alone does not guarantee acceptance. The type of credit search used can vary during the application process. A lender should explain when a search may be recorded on your credit file. Avoid making repeated applications in a short period, as multiple searches can make future borrowing more difficult. For wider information about borrowing with an impaired credit history, visit our Bad Credit Loans page.
A traditional payday loan may be due in one payment on or shortly after your next payday. Other short-term products use several scheduled instalments. The lender sets the repayment dates and collection method, which may include a Continuous Payment Authority. Before accepting an offer, check the APR, total amount repayable, payment dates and any charges shown in the credit agreement. Early repayment may reduce the total cost, but the process depends on the lender and agreement. If you think a payment may be missed, contact the lender before the due date. Do not take another payday loan simply to cover the repayment. Free, impartial guidance is available from MoneyHelper.
Get your decision in minutes and, if approved, receive your funds within the hour. Applying won’t affect your credit score.
