Instant Loans

Get between £50 - £5,000 paid out by

How much would you like to borrow?

£
  • 100% Online Process

  • Borrow up to £5,000

  • UK Based Lenders

  • Bad Credit Accepted

  • 2 Minute Application

  • Same Day Transfer

  • Representative Example: Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). *HappyPenguin will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

    Your Guide to Instant Loans

    Have you ever been in a situation where you need to borrow money, and you need it fast?

    When your car breaks down in the middle of the road, you’ll need cash so that you can call a specialist out to come and tow you to safety. You’ll also need money to pay for the garage to fix your vehicle so that you can go to work the next day and earn the income you need to pay other essential bills.

    When your dog suddenly gets sick and needs emergency treatment at the vet, you won’t have time to wait until your next payday to treat your four-legged friend. Instead, you’ll need to seek assistance for them as quickly as possible.

    If you’re not lucky enough to have a huge savings account that you can use when you’re dealing with an emergency or a family member who can bail you out, then you’ll need a loan. Unfortunately, most loans take a while to apply for. Even if you’re approved within 48 hours, you’ll still need to wait for your money to be transferred into your bank account.

    How much would you like?

    £
    Apply Online

    What Are They?

    They’re a form of short-term loan designed to give you the money you need in an emergency as fast as possible. Otherwise known as payday loans, instant loans can deliver the money that you desperately need into your bank account within a matter of hours. However, you’ll also be expected to pay the money you owe back quickly too. In some cases, you might repay the money all at once on your next payday. In other situations, you might prefer to use an instalment loan to pay the cash back in chunks.

    These types of loans are easy to access and quick to apply for. There’s no collateral or “security” needed to access your loan. This means that you don’t have to worry about putting your home or vehicle at risk. Additionally, because most loan providers will allow you to apply for the money you need online, you can usually get approval within a matter of minutes.

    How to Apply

    Applying for an instant loan or a 6 month loan is similar to asking for any kind of short-term or payday cash advance. Remember that although most providers will be willing to offer a loan with people than less than perfect credit, the companies offering you an instant loan will still need to check your credit history.

    However, more often than not, their main focus will be on your employment history, and whether you have a steady source of income. Companies providing instant loans need to see evidence that you can pay back the money that you borrow as quickly as possible – typically in the next few months.

    There are many different ways to apply for instant loans. Some companies offer the opportunity to apply on the phone with a professional loan assessor. Most people, however, will prefer to simply finish their application online. Usually, all you’ll need to do to get started is sign up for an account on the loan provider’s website with a few basic details, such as your physical address and your email address.

    To complete the application, you’ll need to enter some additional information about how much cash you want to borrow, and how long you want to hold onto the money for. The lender may charge you additional processing fees so that they can get the cash you need into your account within the same day too.

    How Does Happy Penguin Compare?

    Why Use HP?
    What's the max loan amount?
    Up to £5,000
    No hidden fees.
    Is approval instant?
    Yes, immediate.
    On Screen Decision
    Poor Credit Possible?
    Yes. Bad credit too.
    All considered.
    Same day transfer?
    Within the hour!
    Direct to bank!
    Flexible Repayment Dates?
    Flexible terms.
    Quick and easy.

    Who Can Apply

    Some loans are restricted for specific people. For instance, you can’t apply for a student loan if you’re not a student, or a re-mortgage if you don’t already own a property. One great thing about this type of loan is that they’re available for practically anyone. If you can offer proof of employment or show the lender that you have a steady source of income, then you’re already on the right track with your application.

    The other restrictions you might see on your application will depend on who you apply for a loan with. For instance, some providers will also ask for a specific credit rating or score so that you can get the best possible deals. You may also need to provide details of your recent payments with a pay slip or bank statement. You can check the website for your lender to find out what kind of documentation they might ask for.

    You’ll also need a UK bank account so that your provider can pay the money you need to you as quickly as possible. Other common requests include:

    • You must be over the age of 18
    • You need to be a resident of the UK
    • Your bank account given should be the same as the account you get your salary paid into.
    • You’ll need a valid email address and phone number
    • You can’t currently be in debt management circumstances or bankruptcy proceedings.

    What Do They Cost?

    The amount you can expect to pay for instant loans will depend on a number of factors, including which payday loan companies you choose to borrow from. Interest charges, terms, and fees will all differ from one lender to the next. However, most lenders will do their best to remain as competitive as possible. One thing you’ll need to consider when you’re comparing loans is the terms and conditions you can access.

    For instance, one loan provider might offer the opportunity to roll your loan details over if you need a little longer to pay back what you owe. On the other hand, other lenders might immediately begin charging late fees if you can’t pay what’s needed on time.

    There are also some additional fees that certain providers require, such as processing costs. When you’re looking at your options, make sure that you add these fees in with the cost of the loan APR and interest rates.

    How Quickly Can You Get Them?

    The industry for short-term loans has seen significant growth in recent years. That’s because there are plenty of things that might prompt a person to apply for a loan that they need within a matter of hours. When an emergency strikes, you need to be able to access funds immediately. That means that you can’t afford to spend time jumping through hoops with common personal loans.

    The introduction of this type of same day loan has given companies a way to provide their customers with new and improved borrowing experiences. With instant loans, you can apply for the money you need in a matter of minutes online, get approval within a couple of hours, and have the money delivered to your bank account in the same day.

    There even some providers that can offer credit within an hour of receiving your application. Sometimes, the speed at which your cash is promised will impact the overall cost of your loan. Keep that in mind when you’re comparing your available deals.

    Can People with Bad Credit Get Instant Loans?

    If you have less than perfect credit, getting any kind of cash advance can be difficult. With that in mind, it’s easy to see why most people panic about getting access. However, the truth is that many short-term loans come with options that are specifically designed for those with bad credit.

    The companies offering them in the UK market understand that everyone can face an emergency at some point during their lives. Financial problems aren’t reserved for people who have the best credit rating. If your score is poor, then you might want to seek out a bad credit lender. You can find out more about the deals that a company offers for people with bad credit by checking out their website.

    The good news is that you can rest assured that you’re protected. Even these emergency short-term loans are regulated by the Financial Conduct Authority to keep you safe.

    What to Look for Instant Loans

    The features that you need will depend on your circumstances. For instance, you might need someone who can offer financial support to people with a bad credit history. Alternatively, you might need to track down a lender that can offer bigger loan amounts than other providers. Whatever you might be searching for, remember to check for:

    • No guarantor or security: You should be able to apply without a guarantor or any security.
    • Bad credit support: if you have poor credit, make sure that your provider can still give you the loan you need.
    • Speed and simplicity: Find a lender who can give you the money you need fast, usually with an online application.
    • An easy-to-understand process: Ensure that you understand exactly what you’re signing up for with your new loan.
    • Simple repayments: Make sure that you understand how you’re going to pay the money that you owe back.

    When emergencies come your way, this type of loan is a great way to get you and your family back on track.

    Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Happy Penguin is a broker, not a lender, and does not make credit decisions.