Cheapest Loans

£50 £2,000
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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
Ticket Loan £595.92
Loan Pig £595.92
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%

If you are short on cash for the day when the unexpected happens, you’ll want to find the cheapest loans available to help you. Here at Fast Loan UK, our quick and straightforward application process ensures you can access the funds you need on the same day, where possible, to swiftly tackle your financial emergencies.

As we are a trusted source of short term loans, at Fast Loan we have some of the cheapest loans available on the market, so you can choose to borrow a cheap loan of up to £800 as a new customer, or a loan all the way up to £2,000 as a returning customer, with a choice of flexible repayment terms.

Just select your desired loan amount and tailor your repayment terms using the convenient sliders above, then hit apply now to start your application today. Our team will promptly review your cheap loan application, ensuring you're back on solid financial ground in no time. Trust Fast Loan for your financial needs and experience the ease of accessing the cheapest loans available.

What Are Cheap Loans?

Cheap loans in the UK are similar to short-term payday loans, offering you a swift solution for obtaining cash if you are in between paydays and do not have any available savings. They can be useful when faced with unexpected expenses or unforeseen bills when you have no other options to help resolve them.

When looking for a cheap payday lender, you’ll want to ensure any loan you take out will be affordable for you and from a trusted source. That’s where we can help, with cheap loans ranging from £50 up to £2,000, accompanied by highly flexible repayment options spanning 2 to 12 months. Thanks to our fast online lending process, those in search of the cheapest loans can start their application quickly and get a fast assessment, often resulting in same-day funds deposited directly into your bank account. If you want cheap lenders that can help you today, even when needing loans for bad credit, apply online to see how we can help.

Cheap Direct Lenders

A direct lender provides loans directly to borrowers without intermediaries or brokers being involved. These lenders are the source of the funds and make lending decisions themselves, which often leads to a more streamlined and cost-effective borrowing process. Cheap direct lenders, in particular, are known for offering affordable loan options, typically with competitive interest rates and flexible terms.

When you deal with a cheap direct lender, you can often access cost-effective financing solutions without the additional fees or markups associated with third-party intermediaries, like broker or admin fees. Here at Fast Loan UK, we’re happy to be a transparent and efficient cheap payday lender that offers a straightforward online application process with no hidden fees or third-party involvement. So, whether you need urgent car repair loans, cash to settle an emergency that won’t wait, or cheap lenders that can help those with low credit scores, we may be able to help you.

How Fast Loan UK Can Help As Cheap Payday Lenders

We understand that when you're in a financial crisis, time is of the essence, which is why we've designed our application to be short and hassle-free.

When you tell us how much you need and for how long, we can quickly provide you with a prompt agreement in principle. Unlike many online direct lenders who rely on automated approval systems and often decline applicants with poor credit scores without considering their current financial circumstances, we take a more human approach here at Fast Loan.

While credit checks are mandatory under UK law, we go the extra mile to assess your financial situation, regardless of your credit score. Each applicant is assigned a dedicated Customer Care Manager who personally oversees your application. This hands-on approach allows us to manually review the information obtained from credit reference agencies and reach out to you if we have any questions. Rest assured, if we need to contact you, the process typically takes no longer than 5 minutes, although there may be exceptions.

If your credit report provides all the necessary information, there's no need for us to make additional enquiries. Once approved and your digitally signed credit agreement is in place, you can expect to receive the funds in your bank account within as little as 15 minutes. Fast Loan is here to provide you with a swift and reliable lending solution when you need it most.

Eligibility for Cheap Loans

We keep the application process simple for our customers which also means our criteria to apply is also straightforward. To be eligible to apply today for cheap loans in the UK, you will need to meet the following:

  • 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
  • By meeting the above criteria, you will be able to choose the amount and repayment terms you need and begin your application. Remember, if this is your first loan with us, the maximum amount and repayment term you can apply for is £800 and 8 months. For those who are applying again after settling the first loan with us, you may be eligible to apply for up to £2000 and choose terms of up to 12 months. This will be subject to credit and affordability checks.

    If we cannot determine you can afford the loan terms you are looking for with cheap loans, we will have to decline your application. As part of the approval process, you will also be required to provide proof of ID, proof of address and your last 3 months' bank statements.

    Apply Now and get an Instant Decision On The Cheapest Loans

    Need immediate cash today? If you can we can see you can sustain the repayments required for our cheap loans, we are here to assist you during challenging times. As approved by the Financial Conduct Authority (FCA), we adhere to responsible lending practices, ensuring that your loan application is handled fairly and that you can comfortably sustain the loan you apply for.

    Your financial well-being is our priority, so should you have any enquiries regarding our cheap loans, please don't hesitate to contact us. To begin your application, simply click on apply now.

    Cheap Loan FAQs

    How fast will I receive the funds from cheap loans?

    Once we approve your cheap loan application, we will be able to process payments straight to your bank account very quickly. Many of our customers have received their loan within 20 minutes of signing the agreement, but this timeframe may vary depending on when you apply. If you apply outside of business hours, such as a weekend or bank holiday, the loan application will not be processed until the following working day.

    Can I apply for the cheapest loans with bad credit?

    Even if you are someone with a low credit score, we may still be able to help. We help customers from all different walks of life, but bad credit doesn’t determine your eligibility. We will assess the finances of every applicant and if we can determine you can afford the loan amount, along with the specified repayments, we can still help you out, meaning having bad credit isn’t a barrier with us.

    How long can I borrow for with cheap loans?

    As a new customer, the maximum repayments you can choose are up to 8 months. Returning customers can apply for up to £2,000 and spread this up to 12 months. Once you have repaid your first loan from us, you can choose to apply again in future and may be eligible for a repayment term of up to 12 months. You should only borrow what you need and can afford to repay. We do not encourage customers to apply for the maximum amount and terms available.

    Are cheap loans the same as payday loans?

    Our cheap loans are different from payday loans. Although both types of loans offer short-term financing solutions, cheap loans typically have more flexible repayment terms, allowing you to spread your repayments over a longer period, between 2 – 12 months. They also tend to have lower interest rates compared to payday loans, making them a more cost-effective option for borrowing. Payday loans, on the other hand, are typically due in full on your next payday and often come with higher interest rates, which can lead to expensive borrowing costs if not repaid quickly.

    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%