Some of SmartLoans Most Frequently Asked Questions

We've compiled some of our most frequently asked questions to help you find the answers you need.

We work hard to ensure we treat all our customers as individuals and in doing so we've made our application process as simple and as fast as possible, our process is completely transparent with no hidden fees or charges, our service is completely free with no fee!

You can apply if you are: over 18 years of age, living in the UK (England, Scotland, Wales and Northern Ireland), in employment and receiving a regular salary paid into a valid bank account that accepts direct debits.

You can apply 24 hours a day 7 days a week. Many of our lenders also work 7 days a week and can even deposit funds in your account at the weekend. Complete our quick and easy online form and just click 'Submit'. If you are approved you will be shown a comparison table of your results or you will be transferred to the lender’s website to complete the process. Your lender may ask some additional questions not captured on our application form. You then sign your loan agreement online and receive your loan from your lender.

Our panel of lenders currently offers loan amounts from £100 to £5,000 but not all lenders can offer £5,000. The amount you can borrow will depend on your personal circumstances and your credit report.

There are not generally any restrictions on what you can use the money for but our loans are usually used to bridge the gap between receiving your next pay check or to help in an emergency where you need access to cash with short notice.

Once accepted, the money could be sent to your bank account in minutes, however some lenders may include an extra charge for this service. Most loans are paid into your account on the same day and without any transaction charges. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures.

We work with a range of lenders to enable customers in varying circumstances to be able to find the products they need. Working with a wide range of lenders means the APR that you are offered can vary based on several factors. Our prime lenders may offer APRs from as little as 8.9% and other lenders may offer significantly higher rates based on the duration of the loan and your credit rating. Generally customers looking for short term loans with a poor credit rating may be offered higher rates than those with a good credit rating looking for loans over a longer period. Although we make every effort to find you the most suitable product from our panel of lenders, when looking for any financial products or service it is generally a good idea to shop around as there maybe more suitable products available to you through other providers. Representative Example: representative 8.9% APR. Based on a loan of £4,000 over 3 years, with 36 monthly repayments of £126.37 and total amount repayable of £4,549.32, which includes £549.32 interest at 8.9% fixed.

Your loan will usually be repaid in instalments that will be taken from your chosen bank account via direct debit. The terms and installments amounts will be outlined by the lender once you are accepted and approved.

CALL YOUR LENDER! If you think you’re going to have a problem with a payment, you should call your lender as soon as you can. The sooner they know there’s a problem, the sooner they can start to help. Your lender is there to help you and will do all they can to help find a solution. Please never ignore your financial difficulties or worries as this will only make them worse.

We do not carry out a credit search but our lenders may conduct a search when considering your application. When submitting your application you consent for our lenders to run their credit checks.

NO, we do not charge a fee for our services but we may receive a commission from a lender following a successful application. If you would like to learn more about commission we may receive, you can view our privacy policy or get in touch to find out more.