What is a same day loan?
A same day loan is a short-term loan where the money can reach your bank account on the day you apply, if you're approved. Through SmartLoans you can look for loans of £100 to £5,000*. These loans usually cost more than a standard personal loan, so it's worth understanding the costs before you apply.
SmartLoans is a credit broker, not a lender. We introduce you to lenders on our panel, and you decide whether to accept any offer.
How same day loans work
- 1
Apply online
Tell us how much you'd like to borrow and a few details about you. It only takes a few minutes.
- 2
We search our lenders
We look through our panel of UK lenders for products that may suit you. Lenders carry out affordability and credit checks. Approval is never guaranteed.
- 3
Get your results
See your options in minutes. If you accept one, your chosen lender pays the money out, often by Faster Payments.
How quickly could I get the money?
Speed depends on the lender, when you apply and your bank. Applications approved earlier on a working day are more likely to be paid the same day. Later applications, weekends and bank holidays can mean the next working day. Not all lenders can offer £5,000 or transfer the funds the same day.
What does a same day loan cost?
Same day loans are a high-cost form of credit. The cost depends on the lender and the loan you're offered. Here is a representative example:
Missing a payment could lead to extra charges and could affect your credit file. Always check the total you'll repay, not just how fast the money arrives.
Who can apply?
- You're aged 18 or over and a UK resident
- You have a regular source of income
- You have a UK bank account and debit card
- You can afford the repayments, which lenders will check
All credit types are welcome to apply, but each lender makes its own decision, so approval can't be promised. Not sure? Check if you qualify.
Before you borrow: cheaper options to consider
- Ask your bank about an arranged overdraft
- See whether a local credit union offers small loans
- If you get Universal Credit, ask about a Budgeting Advance
- Ask your employer about a salary advance
Same day loans: your questions
How do I get £200 today?
Apply online and we'll search our panel for options. If a lender approves you, the money could arrive the same day, depending on timing and your bank. Only borrow what you can afford to repay.
Who lets you borrow money instantly?
No one can guarantee an instant loan. Authorised lenders must check affordability first. Some pay out within minutes of approving an application.
What's the best same day approval loan?
The best loan is one you can afford to repay. Compare the total repayable amount, not just the speed.
Can I get a same day loan with bad credit?
You can apply, and we work with lenders who consider a range of credit histories. Each lender decides for itself, and approval is not guaranteed.
What happens if I can't repay?
Contact your lender as early as possible. Free, impartial debt advice is available from MoneyHelper.
Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.