£500 Loans, Fast and Flexible £500 Loans in the UK

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£50 £2,000

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due Tuesday 16th Sep

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The cost of borrowing £300 over 6 months:

Fast Loan UK £507.48

Mr Lender £544.00

Cashasap £556.23

Lending Stream £579.00

Money Platform £586.26

Savvy £595.00

QuidMarket £596.46

Cash4unow £599.82

Fernovo £595.92

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Ticktock Loans £595.92

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Loan Pig £595.92

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Moneybag £600.00

Proud to offer the cheapest instant short term loans in the UK

Compare our loans to other lenders here

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

Representative example:

Borrow: £300 over 8 months. 8 repayments of £70.31. Total amount payable £562.44. Interest rate: 130.21% pa (fixed). Representative APR: 840.75%

What Is a £500 Loan?

A £500 loan is a type of short term loan designed to give you quick access to funds when an unexpected expense arises. As a small loan amount, they are designed for urgent borrowing needs. Whether it’s paying for car repairs, covering a household bill, or managing urgent family costs, a £500 pound loan can provide quick access to cash for unexpected expenses and help meet your specific borrowing needs. At Fast Loan UK, you can borrow up to £800 over a maximum period of up to 8 months if you’re a new customer, or up to £2,000 over a maximum period of 12 months if you’re a returning customer.

Understanding Loan Terms

When applying for a £500 loan, it’s important to fully understand the loan terms before you commit. Loan terms include details such as the interest rate, repayment period, and the amount of your weekly, fortnightly or monthly repayments. These factors determine how much you’ll pay overall and how easily you can manage the loan. If you have a good credit history, you may be offered a lower interest rate, making your repayments more affordable. On the other hand, a poor credit score could mean higher interest rates and a more expensive loan. Always take the time to assess your financial situation and make sure you can comfortably manage the repayments throughout the repayment period.

How Does a £500 Loan Work?

A £500 loan works by providing you with funds upfront, which you then repay over a fixed and agreed period of time. As a type of personal loan, a £500 loan is designed for short-term borrowing needs. The money borrowed is repaid in manageable instalments, and the total amount and total repayment, including interest and fees, will be clearly outlined before you commit. We offer loans quickly and securely as an online lender, with repayment in monthly instalments, making budgeting easier and more predictable. Instead of repaying the full amount in one go, you spread the cost into smaller, manageable payments.

The entire application process is straightforward and online: you submit basic personal information and financial details, and we’ll assess your application quickly. When you apply, we’ll check your affordability by reviewing your income and expenses. You may be asked to provide bank statements and must have a bank account with a debit card. With Fast Loan UK, this process is simple and online, with applications taking only minutes to complete. Many customers receive a decision instantly, and if approved, funds can often be transferred on the same day. For borrowers needing immediate access, our same day loans may also be suitable.

Financial Situation and Loan Suitability

Your financial situation is a key factor in determining whether a £500 loan is right for you. We will assess your income, existing debts, and credit history to decide if you can afford the loan repayments. It’s important to be honest about your finances and provide accurate information, as this will help you avoid being declined or facing difficulties with repayments later on.

To be approved for a £500 loan with low interest, you need to be:

Aged 18 years or over
Current UK resident
Be in Full-Time, Part-Time or Self-employment
Receive a regular income
Have a valid bank account and debit card

Can I Get a £500 Loan with Bad Credit?

Yes, you can still get a £500 loan bad credit option if your credit score isn’t perfect. Traditional loans from banks often require higher credit scores and may only be available for larger loans, such as £1,000 or more. Not everyone meets the strict criteria for traditional loans, but we consider individual circumstances and focus on your current affordability and income. We offer a £500 loan for bad credit that is designed to meet a range of borrowing needs.

Choosing Fast Loan UK comes with benefits such as flexible terms, quick approval, and support for those with bad credit. We are committed to customer satisfaction by providing a simple, transparent, and supportive lending experience. This means you still have a chance of being approved if you can show that you can meet the repayments.

Even if you’ve struggled with borrowing before due to your less-than-perfect credit score, you could still be eligible for our low credit score loans.

Flexible Repayment Terms

Flexible repayment terms can make managing a £500 loan much easier. We offer options such as weekly, fortnightly and monthly repayments, allowing you to choose a repayment schedule that fits your budget. Depending on your circumstances, you may want to make early repayments. We can provide you with an early settlement quote that will include a £20 early settlement fee, and you will only be charged interest for the days you have borrowed.

Is a £500 Loan Low Interest?

A £500 loan with low interest can help reduce the total cost of borrowing. The interest rate on a loan is one of the most important factors to consider, as it determines how much you’ll pay overall. You only pay interest on the amount you borrow, and the loan term you choose will affect the total cost of your loan. By choosing a direct lender such as Fast Loan UK, you avoid unnecessary broker fees and benefit from transparent repayment terms.

We aim to keep our loans affordable, ensuring you know upfront how much you will repay before you commit. You can choose to repay your loan early without penalty, and early repayment can reduce the interest you pay. If possible, consider repaying your loan early to save money on interest. For more guidance on managing borrowing costs, explore our affordable loans.

Why Choose Fast Loan UK for a £500 Pound Loan?

Here at Fast Loan UK, we specialise in providing short term loans that are simple, fair, and transparent. As a direct lender, we handle your application without third parties, which means quicker approvals and no hidden costs.

Borrowing a £500 pound loan with us is straightforward:

Apply online in minutes.
Receive an instant decision in principle in most cases.
Get money transferred directly to your account, often on the same day.

Borrowing money from Fast Loan UK comes with flexible repayment options to suit your needs, making it easier to manage your budget and spread out payments over time.

Whether you need £500 or a larger amount up to a £2,000 loan, we provide flexible borrowing designed to support real-life financial challenges.

Responsible Borrowing

Responsible borrowing is crucial when considering a £500 loan. Only borrow what you truly need and are confident you can repay. Taking out multiple loans or borrowing more than you can afford can quickly lead to financial problems and damage your credit score. By borrowing responsibly, you can protect your credit score and maintain your financial health for the future.

£500 Loan FAQs

How quickly can I get a £500 loan?

With Fast Loan UK, you can often receive a decision within minutes. If approved early in the day, a £500 loan may be transferred to your bank account on the same day, sometimes within 15 minutes of signing your agreement.

Can I repay a £500 loan in instalments?

Yes, you can make £500 pound loan repayments in weekly, fortnightly or monthly instalments, making them easier to manage and more affordable than lump-sum repayments.

Are £500 loans safe?

Yes, as long as you borrow from an FCA-regulated direct lender. Fast Loan UK is fully regulated, ensuring our £500 loans are transparent, fair, and responsible.

What if I have bad credit but need a £500 loan?

You may still be eligible. At Fast Loan UK, we focus on your current income and ability to repay rather than just your past credit history, giving you a fair chance of approval.

What can a £500 loan be used for?

A £500 loan can be used for a variety of unexpected expenses such as urgent car repairs, medical costs, emergency travel, or essential household bills.

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