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Why Choose Us
My Personal Loans Why my-quickloan.com
You could Borrow £100 to £5,000 Instant Decision
What is the loan repayment term? 3 – 36 months 100% Online
How loan does it take to get funds? Funds in 10 minutes^ High Acceptance Rate
Do you charge Fees? We charge No fees Safe and Secure
What if i have poor credit history? All credit histories welcome No Obligation

 

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Your questions answered

Here at My-QuickLoan, we want to help you understand the things that you need to know about loans, in a way that is easy to understand.

So we have gathered together some facts from frequently asked questions of our customers to help you make the right informed decisions about your payday loan.

 

Do you charge fees?

 

We won’t ever charge you fees for using our services. A lot of brokers used to charge high fees for introducing your application to a panel of lenders.

However, since lenders and credit brokers became authorised by the Financial Conduct Authority, if a credit broker charges you a fee they have to make this completely clear from the start.

This is why many people search for payday loan direct lenders, however using a free brokerage service is much more to your advantage than filling out numerous application forms.

Our service is completely free for you to use, as we will receive a fee from the lender that we introduce you to.

 

What is payday loan?

 

Payday loans are often referred to in other terms such as short-term payday loans, instant decision payday loans, same day payout loans, and even quick loans. But they generally mean the same thing.

Payday loans are typically an amount of borrowing between £100 up to £5,000 with a repayment term of 3-12 months.

 

What can a payday loan be used for?

 

Same day payday loans are used for short-term borrowing purposes to help cover some of life’s unexpected costs like a broken down washing machine or car repairs.

Many people also use quick loans to help spread the costs of that family summer holiday or to help repay other debts.

We can help you find a loan whatever the reason, we just ask that you make sure that you can afford to make the repayments before agreeing to the terms and conditions of the lender.

 

We can help you to find the best rates!

 

We use our partner’s award-winning piece of software that allows us access via the platform, to a large panel of lenders. The platform searches for short-term payday loans as soon as you hit the apply button on our application page.

Within milliseconds your details are passed to most of the UK’s leading lenders.

The panel of lenders in this platform are ranked in order from the lowest interest rate at the top, the software will start at the top and work it’s self down the list of lenders until you get accepted. This meaning you are always getting the best rates available to you.

 

Can you offer instant payday loans?

 

Payday loans are known for their speedy pay-out with most, if not all lenders offering pay-out of the loans the same day you apply.

This is due to the application mostly being completed online now, so there’s no longer a need to send any paperwork in the post, as e-signatures can be applied to the loan agreement.

 

How quickly will the funds be in my bank account?

 

If you are looking for an immediate payday loan, then you have come to the right place as we specialise in making your loan application as quickly as possible.

Usually, you will receive the money in your account within the hour after being approved, meaning that you will have quick access to the funds you need when you need it.

It’s worth noting that whilst most lenders can offer immediate payout on payday loans, this is, of course, subject to a couple of things.

Firstly, that you are approved for the loan and secondly that your bank is able to accept faster payment processes. Most, if not all banks do accept faster payments – we are after all in the 21st Century!

What are the advantages of using My-Quickloan? 

One of the most popular advantages that our customers love about using our services, is that if you want an instant decision payday loan, you could have just that within minutes of filling out our easy to use application form.

We also guarantee that you will always receive the best payday loan interests rate to your circumstances. As mentioned above, the clever software we use will automatically match you with the lowest rates. This is much easier than using payday loan comparison sites.

Payday loans do also come with disadvantages so please be sure to consider this type of borrowing before taking out a loan.

Some of the disadvantages include higher interest rates to your longer-term borrowing such as personal loans. Also, if you don’t repay your loan on time you may incur further charges on top of the interest making this a more expensive type of borrowing.

If you do want to consider a personal loan, you can apply to borrow between £1,000 – £25,000 on our sister site my-personalloan.com.

How much do the payday loans cost?

How much you back pay on your payday loan will vary from lender to lender and on your personal circumstances.

However, by law, since the UK became regulated by the FCA, each lender has to show on their website a ‘representative APR’. This is the amount that the average customer is expected to pay.

What is a representative APR?

A representative APR shown by any lender is by calculated by the average amount that 51% of their customers can expect to be charged.

But please keep in mind that a representative APR is just a guideline and it is not guaranteed that you will be charged that amount. The amount charged is based on your personal circumstances, and so this could be less or higher.

We recommend that you check the lender’s agreement to make sure that you are happy with the interest stated. It’s important to read this so that you fully understand the total amount repayable, along with any charges that may be incurred, before signing the agreement and committing to the terms.

What if I have bad credit – can I still apply for a payday loan bad credit?

In a short answer – yes! Many of the payday lenders our partner has have access to understand that many of life’s unexpected events happen to all of us regardless if you have good or bad credit.

That’s why most of the lenders specialise in helping people with bad credit by taking into account your ability to repay the loan instead of simply looking at your credit score.

Looking for a Payday Loan No Credit Check?

Please visit our bad credit loan page for more information on no credit check loans.

What are the requirements I need to meet to apply for payday loans in the UK?

To apply for payday loans in the UK through My-Quickloan you must meet the following basic requirements;

You must be 18 years or over

Have a regular source of income

Have an active bank account with a debit card

Be a UK resident.

If you meet the above criteria, then you can apply for a quick loan up to £5,000, subject to your personal circumstances and approval.

Get A Payday Loan Quote

Click HERE to get an online quote today.

Once you have filled out our short application form, click apply and our partner will automatically match you with the lender with the best rates to your circumstances. You are under no obligation to accept this quote.

If you are still interested and want more information on Payday loans, Money Saving Expert has got a great blog which might be of interest to you.

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