Personal Loans, Learn More About Personal Loans in the UK

Personal Loans

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Representative example: Borrow £700 for 5 months. 1st monthly repayment of £235.80, 3 monthly repayments of £235.80, last monthly repayment of £235.90. Total repayment £1,179.10. Interest rate p.a. (fixed) 222.79%. Representative APR 832.04%. Our APR includes all applicable fees. Daily interest is capped at 0.793%.


As a traditional form of credit, a personal loan can be helpful to cover many different types of purchase. Whether you are looking to buy a new car, make some home improvements, or pay for a holiday, personal loans in the UK can provide financial support. If, however, you need to borrow money to cover a short term emergency, an online personal loan may not be the best choice, especially if you need to borrow a small sum for a few months. Here at Payday Loans Net, we can help provide short term loans for up to £1500 with repayments between 3 – 9 months in an instant.

If you need to resolve an unexpected expense quickly, and you have no other means to do so, we can provide a decision in 90 seconds of applying. If approved, you’ll have same day cash into your bank account. Click apply now to start an application today.


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Personal Loans for Bad Credit


If you have a poor credit history, finding a personal loan direct lender that can help those with bad credit may be difficult. This is because most personal loans will require applicants to have a good credit rating due to the higher values being offered. Most personal loans will be for at least £1,000 with repayments spread over 12 months and more. Traditionally, personal loans in the UK were only offered by the banks, however these days there are online personal loan direct lenders too. They will still offer this type of borrowing for higher values but may still require a good level of credit.

Here at Payday Loans Net, whilst we do not offer personal loans for bad credit, we do provide instant loans that can be repaid over short term repayments. We can also help those with a poor credit history if they have the affordability. We do not use automated decision making and welcome applicants who have been declined elsewhere. We can’t guarantee you will be approved for the loan you need, however, we have helped applicants with varying credit histories settle an emergency expense in the past.

Small Personal Loans Compared with Short Term Loans


The biggest difference between small personal loans and our short term cash loans is the reasons you would need to borrow. The best personal loans in the UK will enable you to borrow between £1,000 and £25,000 to purchase goods or pay for other non-essential items. This is typically not short term borrowing as standard unsecured personal loans will have repayments for at least 12 months or several years. This is the opposite of what you would need to resolve a small, short term issue with a payday loan. That’s why we can offer between £300 and £1500 with flexible repayments between 3 – 9 months when you need it.

Most personal loan lenders will not offer borrowing under £1,000, so when you need to borrow a smaller amount such as a £400 loan, you would have to borrow more than you need. This would also mean taking on a personal loan for over 12 months when ideally you wanted to settle within 6 months. This is where using short term borrowing options can be a better fit for your circumstances.

How Payday Loans Net Can Help in an Emergency


As a trusted lender, we know that resolving an unexpected bill quickly needs a fast loan process. That’s why we provide a speedy solution that helps you resolve an emergency the same day and won’t keep you waiting for a decision. Once you have completed your application, we can provide a decision in 90 seconds, and if approved, you will receive the cash the same day to use. We can also do this at weekends as we are open from Sunday to Friday 8am to 5pm, helping you get the funds you need before the next working day.

Rather than searching for personal loans with no credit check, if you have a poor credit history, we can help. As responsible lenders, we are still required to perform credit and affordability checks, but we focus on your finances as they are today rather than your financial past. If we can determine you can afford the repayments you request and it won’t put you into financial difficulties, then there is every chance we can approve a loan today.


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Personal Loans FAQs


Are Cheap Personal Loans Available?

If you are looking for cheap personal loans, this could mean you are looking for those with low monthly repayments and a low interest rate. There are many personal lenders available to compare offers with and see which works out cheapest for you. However, even the best personal loans aren’t suitable for short term borrowing. If you only require an amount of less than £1500 and it is to cover an unexpected or emergency bill, a short term same day loan would be a better option. This way, you can borrow just the amount you need and spread over a shorter period to resolve quicker, all whilst paying affordable repayments.

What are the Best Personal Loans for under £1,000

Most personal loans are for higher values of above £1,000, so if you are looking to borrow a smaller value, a personal loan may not be the best choice. You may find short term lenders that can offer the amount you need whilst still offering a longer repayment term if you need it. However, if you need to borrow money to cover a goods purchase, you may find limited options for under £1,000. At Payday Loans Net, we provide payday emergency loans for the short term, so if you can’t resolve your issue with savings or available credit, we can help.

Do I Need a Guarantor with Personal Loans for Bad Credit in the UK?

It is not a requirement to have a guarantor when applying through us, but there are sone lenders who will request this if you have poor credit. With personal loans for bad credit in the UK, you may find lenders will only approve this if you have a suitable guarantor to co-sign the agreement. Typically, most personal loans will only be offered to those with good credit, so you may not find many options, but there are guarantor loans available. As we do not require a guarantor, you can apply as a sole-applicant with poor credit, and we will consider your affordability and current finances.

Does an Instant Personal Loan Provide Same Day Funds?

With an instant personal loan, you would expect the funds to be transferred quickly once approved. However, many traditional personal loan lenders may not be able to provide same day funds. It can take a few days sometimes for a lending decision to be made and then transfer to your bank account. Fortunately, there are many quick loans available online that do, and at Payday Loans Net we can provide cash the same day. We provide a decision in just 90 seconds so that we can process an approved application fast, and help you get the cash you need within 24 hours.

Apply Now for our Alternative to Unsecured Personal Loans


If a small loan under £1500 will help you resolve a situation fast, a personal loan may not be the right choice for you. Use our loan calculator to see how much a loan today will cost and click apply now to start your application. We work quickly and can help you resolve an unexpected bill with no delay. If you have any questions about our loans compared with online personal loans, please contact us.

Whilst we strive to help all applicants get the cash they need, we can’t guarantee approval. If you are experiencing financial difficulties, then please visit Money Helper for free impartial advice and more information.

Personal Loans in the UK


A personal loan can be used for many different reasons and is commonly offered by banks and financial institutions. They can offer loans up to £25,000 over long term repayments of at least 12 months. This type of loan is not suitable for all circumstances, especially in a financial emergency. At Payday Loans Net, we can provide short term borrowing between £300 – £1500 that can pay out the same day if approved. If you would like to apply today, you will need to meet the following requirements first as well as being at least 18 years old:

  • Reside in the UK
  • Have a UK bank account
  • Have a steady income

Once you have completed your application, we’ll provide a decision in 90 seconds and transfer the approved funds the same day where possible. We are happy to help those with a poor credit history if they can afford repayments. We cannot guarantee approval, however, and will still need to perform credit and affordability checks first.

Representative example

Total amount of credit: £700
Duration of the agreement: 5 months
Repayment total: £1,179.10
Interest is fixed at rate of 222.79% per year – 0.793% interest per day | Representative 832.04% APR
£235.80
Instalment 1
£235.80
Instalment 2, 3 & 4
£235.90
Instalment 5
Warning: Late repayments can cause you serious money problems. For help, go moneyhelper.org.uk