Cheap Payday Loans

£100 to £5,000, same day payout*

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

Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).

*Boutell does not perform a credit check on any of our applicants however lenders will determine if you're eligible for a loan via a soft search. If you accept the loan offer a hard search is performed.

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15 Essential Tips for Getting Cheap Payday Loans Online

Before you try to get any of the cheap payday loans the internet has to offer, there are some tips that you will need to learn about. These tips can help you to get the necessary funds without being tripped up by any unnecessary problems. Far too many people rush into obtaining loans without really thinking about this process. No matter what your purpose is for trying to get a loan, this information can benefit you tremendously.

How much would you like to borrow?

Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).

1. Use a Good Broker

One of the best possible things that you can do to get a great deal on a quick loan is to use a reliable credit broker like Boutell. By doing this you will greatly improve your chances of getting exactly what you need. It will save you time while ensuring the best possible terms for your loan. Few people have the time to research lender options on their own these days. This is why it is so important for you to consider going through a broker service.

2. Apply on a Weekday

It’s always better to apply for an online loan on a weekday. This will give you a better chance of getting the money you need without delay. You should also try to submit your application early in the day. You don’t want to delay when it comes to doing this, because it will only work against you in the end.

How much would you like to borrow?

Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).

3. Stay Organised

You also need to stay organised when it comes to collecting any documents that the lender requires for all applicants. This means having proof of income, identification, and anything else you might need when applying. If it seems like you are disorganised, you are unlikely be approved for a loan.

4. Only Use Secure Websites

When you are attempting to get a loan online, you will need to make certain that you only go through secure websites. Look for the little lock icon on the side of the address bar at the top of your browser. This indicates that the website you are on is secure, so you won’t have to worry about your information being stolen or compromised in any way. Identity theft is a major concern when using the internet these days, so you need to remember this.

5. Don’t Assume You’ll Get Approved

People tend to get sloppy and make mistakes when they just assume they are going to be approved for a loan. You need to be extremely careful throughout every step of this process. This will significantly boost your chances of getting the funds you require. While the odds are most likely in your favour, it’s always a good idea to play it safe.

6. Think Twice About Borrowing from a Bank

Getting a loan from a bank might seem like the natural first step to take, but there are plenty of reasons not to do this. Banks do not give out payday loans, and their standards for approval are much higher than most private lenders. People with bad credit have a very tough time getting approved by banks. You will also have to wait a lot longer to get your money when going through a bank.

Some banks don’t even offer online loan applications, so you might have to fill out paperwork by hand. This is ultimately a slower and more cumbersome borrowing option that should be avoided in general. When you want to get a cheap loan, private lenders are almost always the best option you have.

7. Evaluate Loan Offers Carefully

Make sure that you closely evaluate any loan offers that you get so you know what each one says precisely. Even those with bad credit need to make a point of doing this. Just because your options are limited doesn’t mean you shouldn’t review them carefully. You need to be okay with all of the terms and conditions of the offer before you officially accept. Once you give the lender your signature, you will be required to pay back the loan. You are not obligated to accept any loan offer though.

8. Know How Much You Are Going to Pay

It is crucial that you know exactly how much you are going to pay for your loan, including interest and any other fees. This is important because you have to know that you can afford to pay back the full amount on time. Borrowing more money than you can afford to will only hurt your credit and finances as a whole. You can get this information by prequalifying with each lender. This will provide you with an accurate number, so you know exactly what to expect in terms of the full loan amount.

9. A Shorter Terms is Usually Better

A shorter loan term might not seem like it is a good thing, but it will ultimately help you save money. The less time you have to pay back the loan, the less interest you will end up paying. The average term for a short term loan is about 3 months. This should provide you with an adequate amount of time to cover what you have borrowed. You will be able to use your next paycheque to pay back the lender in full.

10. Review the Lender Requirements

Depending on the lender, you might not qualify for the loan you need. You can save yourself a good amount of time by getting this information upfront. There is no point in spending time filling out an application if you have no hope of being approved.

11. Get Help from a Friend or Family Member

Sometimes the best way to get cheap payday loans is to have someone you know co-sign your loan. This can lower your interest rate considerably, so it is worth trying. If you don’t have very good credit, this can help a lot. Some lenders are far more willing to give the green light to applicants who have a co-signer.

How We Compare

  • Boutell
    Why Use Us?
  • How much can I borrow?
    £100 - £5000
    No hidden fees
  • Over how long?
    1 - 36 months
    Flexible repayments
  • Can I apply with bad credit?
    Yes
    Quick decision
  • How do I apply?
    100%
    Online fully SSL secured
  • When can I apply?
    24/7
    Even on bank holidays
apply now!

12. Opt for Automatic Repayment

When you choose to repay the lender automatically, you won’t have to deal with any late fees or other annoying consequences. Some lenders make this mandatory, while others offer it is as an option to borrowers. The funds that you owe will be taken right out of your current account on the date that the loan is due.

13. Pay Your Fees Upfront

If you are required to pay any fees other than interest on your loan, you should pay them upfront. This will prevent them from being rolled up into the loan itself, which will increase the amount of interest you’ll have to pay. This is something that a lot of private lenders actually allow borrowers to do. It is one of the most effective way to go about saving yourself money, even if it is just a little bit.

14. Assume There Will be a Credit Check

All lenders run credit checks on applicants, so this is something that you should expect. It is therefore a good idea to take a look at your own credit before applying. You should have a realistic idea as to what your credit is like, because it is going to be important. People with bad credit can still get payday loans, but this is still a crucial step for you to take.

15. Clear Your Current Debt

It is important to make sure that you clear all of your existing debt before applying for a fast loan. This will give you a much better chance of approval. When you have your finances in order, you will be able to get the cheap loans you need.

The internet is the best place to go when looking for cheap payday loans. These loans are available to lots of different people, including those who are self-employed. Whether you want to start a new business or just catch up on some bills, these loans are worth exploring. This is a borrowing option that can work well for most people, including people with bad credit. You should be able to get an amazing deal on one of these loans with minimal effort.

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