Compare 2-month short term loans

If you're facing unexpected costs and need extra cash, you might be considering a 2-month short term loan. Compare rates and find out costs and other options.

It can be hard to predict what costs are around the corner. If you’ve been hit with an unexpected cost – for example a big car repair bill – taking out a two-month loan is one way to bridge the gap. Find out about the high costs of this type of loan, and alternative options.

Plenty of lenders offer loans you can repay in two monthly instalments. Normally the instalments are roughly equal, but some lenders in the first month only charge you the interest that has accrued, and then in the second month charge interest plus capital (the amount you borrowed). That can seem handy if you need a little time to get back on your feet – but it will cost you more in interest overall.

Two-month short-term loans are a fast but eye-wateringly expensive way to borrow, with interest rates typically higher than many other forms of credit. Before taking out a short-term loan, consider alternatives such as those outlined by If you do opt for a two-month short-term loan, online applications are simple and quick, and if your application is accepted, many providers can have your cash transferred to you in a matter of minutes or hours.

Warning: Late repayment can cause you serious money problems. For help, go to

Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

Table: promoted deals, sorted by total payable
How much do you need to borrow?

How long do you need to borrow for?

Name Product Available Amounts Monthly repayment Total payable Link
Lending Stream Instalment Loan
£50 to £1,500
Go to site
More Info
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
The Money Platform Short Term Loan
£250 to £1,000
Check eligibility
More Info
Representative example: Borrow £500 for 6 weeks at a rate of 255.5% p.a. Representative APR 839.20% and total payable: £647 in 1 payment.
QuidMarket Short Term Loan
£300 to £1,500
Go to site
More Info
Representative example: Borrow £300 for 3 months at a rate of 292% p.a. (fixed). Representative APR 1,301% and total payable: £454.37 in 3 instalments of £151.46.
CASH4UNOW Short Term Loan
£150 to £1,000
Check eligibility
More Info
Representative example: Borrow £200 for 4 months at a rate of 292% p.a. (fixed). Representative APR 1306% and total payable: £332.00, in 4 payments of £83.00.
Mr Lender Short Term Loan
£200 to £1,000
Go to site
More Info
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative APR 1,256.0% and total payable £367.40 in payments of £81.33, £73.23, £65.13, £57.33, £49.24, and £41.14.
With this loan your monthly repayment decreases over time. Our 'Monthly repayment' above is a representative figure designed to help compare lenders side by side.
Moneyboat Short Term Loan
£200 to £1,500
Go to site
More Info
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
Fund Ourselves (Welendus) Short Term Loan
£100 to £1,500
Go to site
More Info
Representative example: Borrow £200 for 122 days at a rate of 211% p.a. (fixed). Representative 501.2% APR and total payable £286.82 in 4 monthly payments of £71.71. Personal Loan
£200 to £1,000
Go to site
More Info
Representative example: Borrow £400 for 6 months at a rate of 291.5% p.a. (fixed). Representative 1,259.2% APR and total payable £799.98 in 6 monthly payments of £133.33.

Compare up to 4 providers

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

We compare payday/short-term loans from

Lending Stream Instalment Loan
The Money Platform Short Term Loan
QuidMarket Short Term Loan
CASH4UNOW Short Term Loan
Mr Lender Short Term Loan
Moneyboat Short Term Loan
Fund Ourselves (Welendus) Short Term Loan Personal Loan

Is high-cost, short-term borrowing a good idea?

Payday or short-term loans are very expensive and not a good idea for borrowing over longer periods, or for sustained borrowing. They may not solve your money problems.

Before applying for a payday or short-term loan you should always consider other options. Is the expenditure that you’re planning absolutely essential? If possible you should defer your purchases as this will save you money in the long run. If you need the money to pay a bill, it could be worth speaking to your provider to see if you can negotiate a payment plan or defer your payment. Read more about alternatives to taking out a payday loan at

What you need to know about 2-month payday loans

A two-month short-term loan is a high-interest form of borrowing, designed to be a temporary helping hand when you’re facing an unforeseen shortfall in cash. Two-month short-term loans are generally paid in two monthly instalments, however some lenders will also provide the option for weekly or fortnightly instalments. Before taking out your loan you should make sure you’re confident you’ll be able to make the agreed repayments – failure to do so will damage your credit score, making it harder to secure credit in the future.

Key features

  • Small loan amounts. Although some lenders state that they offer short-term loans of up to £1000 or more, don’t expect to be approved for this if you’re a new customer – lenders will want to start small.
  • High interest rates. The interest rates typically charged on two-month loans are undoubtedly high. The maximum rate lenders can charge is 0.8% a day, but to put that into perspective, if you borrowed £200 for 2 months at a rate of 0.8% per day, and repaid in equal monthly instalments, the loan would cost you around £75 in interest.
  • Regular repayments. Normally you’ll pay back a two-month loan in two equal instalments – the first being one month after taking out the loan, and the second, final payment, two months after taking out the loan. Many lenders offer borrowers the facility to repay fortnightly or even weekly. It is often advisable to align repayments with paydays – so if you get paid weekly, it could be a good idea to request loan repayments to be taken immediately after you’ve been paid each week.
  • Early repayment. Although when you sign up to a two-month short-term loan you will agree set repayment dates with your lender, it is usually possible to pay all or part of your loan back early. This is generally a great idea, if you can manage it. By paying off your loan early you could cut down how much you pay in interest. Make sure you check the early-repayment terms set by the lender before taking out your loan.
  • Paid back by CPA. Repayments on payday/short-term loans are usually taken via Continuous Payment Authority (CPA), but you can usually opt to pay by direct debit or manually.
  • Fees. Although lenders generally don’t charge set-up/arrangement fees, expect to be charged up to £15 for a late repayment (this will also damage your credit rating, and your ability to secure affordable credit in the future).

Benefits and drawbacks

  • Spread repayments.
    Unlike a traditional “payday” loan, a short-term instalment loan allows you to spread repayment over two months. That means two smaller repayments, rather than one larger repayment. However because you’re borrowing for longer than you might with a payday loan, you’ll pay more in interest overall.
  • Quick turnaround time.
    Over the years lenders have made great efforts in reducing the time it takes to get your loan. Many can give quick decisions on your application and if accepted can transfer your loan in just a few hours or even minutes. It’s important that you don’t let these quick turn around times make you rush your decision.
  • Easier approval.
    Whilst you must meet certain requirements to secure a two-month short-term loan, many lenders are more willing to provide finance to those with poor credit than banks might be. Many lenders now base their decisions primarily on affordability rather than credit history, meaning that you could secure a loan despite having a bad credit history.
  • High interest rates.
    If you take out a two month short-term loan you should expect to significantly higher interest rates than you would with most other forms of credit. Although the cap for rates is 0.8%, most lenders will price their loans at or just below this rate. At such high rates it’s crucial that you pay back your loan as soon as you can. Short-term loans are not a long-term solution.
  • Not a long-term solution.
    Short-term loans are just that – for the short-term. They are designed to cover an unexpected shortfall. Don’t expect them to cover or solve longer-term financial difficulties. For help and advice on dealing with longer-term financial difficulties a good place to start is the government’s money advice service.
  • Disreputable lenders.
    Before taking out a two month short-term loan make sure you have done your research on the lender. There are many unauthorised providers online that look to take advantage of those looking for quick cash. You should never borrow from a lender that is not approved by the financial conduct authority (FCA), so check this before you apply.

Eligibility requirements

Requirements will vary by lender, but expect to be required to meet the following criteria:

  • Be aged 18 or over.
  • Be a UK resident.
  • Hold a bank account.
  • Have an email address and mobile number.
  • Have some form of regular income.

What is a Continuous Payment Authority (CPA)?

A CPA is a recurring payment in which you give a company permission to withdraw money from your account on a regular basis.

CPA differs from direct debit because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most payday loan companies will use CPA to collect your repayments, however you can cancel this at any point by either consulting with your provider or your bank.

Frequently Asked Questions

Back to top
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

More guides on Finder

  • Monzo review: Is it worth it?

    Is Monzo’s app-only current account the right option for you? Read our review to get the low-down on all of the features of the account, its card and the app.

  • Agricultural mortgage

    What you need to know about getting a mortgage if you’re buying or refinancing a farm or farmland, including the factors lenders consider when you apply for one.

  • Mortgage for a hotel

    In-depth guide to taking out a commercial mortgage to buy or refinance a hotel. Find out how to get the best rates, factors lenders consider and what you need to apply.

  • Bridging loan vs commercial mortgage

    Find out if a bridging loan or commercial mortgage would suit you if you’re buying or refinancing commercial property and when a bridging loan can be a better option.

  • 10 ways to improve your credit score

    The best methods for getting your credit rating in top shape, and boosting your credit score.

  • Chain break finance

    Learn everything you need to know about chain break finance – a type of bridging loan that stops you losing your dream home if the sale of your existing one falls through.

  • Fix and flip

    Read our in-depth guide to fix and flip and how this type of property investment works, including the factors you need to consider, the risks to be aware of and how to finance it.

  • Commercial bridging loan

    Everything you need to know about commercial bridging loans. We look at when they’re useful, how they work and what to be aware of before taking one out.

  • Hard money loans: Short-term finance in the UK

    Learn everything you need to know about hard money loans – also known as bridging loans. Find out how they work, what they can be used for and their benefits and downsides.

  • 100% bridging loans: How to get one

    Read our in-depth guide to 100% bridging loans, including how bridging loans work, how to borrow 100% of the property’s value, how to get the best deal and the pros and cons.

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site