Compare the best instant decision payday loans

There are plenty of payday lenders willing to transfer cash fast. But even if you're in a hurry, it's worth taking moment to compare the best deals.

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Despite what some lenders promise, “instant” payday loans simply don’t exist – but there are some fast options out there, and we can help you compare them.

While some lenders only approve loans during business hours, with no guarantee of when they’ll get round to it, other lenders make an automatic decision where a loan application meets certain criteria, after which you’ll be in for a wait that could be as short as 15 minutes.

Let’s take a look at how long it takes to get cash from some of the key players in the UK payday loans market. We’ve covered high-cost loans paid back in one lump sum on your next payday, and those paid in a few instalments.

warning icon Warning: late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

warning icon 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.

Company How fast is it?
247Moneybox 247Moneybox says that If your application is approved before 5pm it typically sends payment instructions to its payment provider on the same day. If your application is approved after 5pm it typically sends payment instructions the next working day. Go to site
Dot Dot Loans Dot Dot loans says that if your loan is approved between 8.30am and 4.30pm Monday-Friday, it aims to have your funds in your bank account within 1 hour. Go to site
Lending stream Lending Stream says in most cases it will give an instant decision, and once agreed, stream the cash to your bank in under 90 seconds. Go to site
The Money Platform The Money Platform says that if you agree terms before 3pm on a weekday you'll have the funds in your account that day within a few hours, if you agree terms after 3pm Monday to Thursday you'll have the funds the next morning, and if you agree terms after 3pm on Friday, you may not receive the funds until Monday. Go to site
Peachy Peachy says it will process your online application within couple of seconds of receipt, and that once approved, receiving funds usually takes about 15 minutes, but depending on your bank could take up to 1 hour. Go to site
PiggyBank PiggyBank says it aims to pay out approved loans within 1 hour. Go to site
QuickQuid QuickQuid says it will do its best to make a decision within 30 minutes, and that it pays out approved loans within 10 minutes. Go to site
sunny logo Sunny says it will give a quick decision and it pays out approved loans within 15 minutes. More info

Can I get a payday loan instantly?

Realistically you’ll be hard pressed to get a payday loan instantly, but some lenders have managed to streamline their processes to the point that borrowers who get approved can go from hitting “apply” to receiving funds comfortably within an hour.

Text loans and loans that access your online banking can in theory deliver funds even faster, but you’ll need to be an existing customer. However, you should never get to the point where you’re using this type of loan regularly – they’re simply not suitable for sustained borrowing.

So what happens after I submit my application?

The lender will run your application through its own in-house assessment (in many cases, this part of the process is automatic, but in more “borderline” cases may require human involvement – potentially even a discussion with you) and will also request a credit search from a credit reference agency (CRA).

Provided the lender’s happy to proceed, it will then make you a formal offer. In some cases, if the lender doesn’t feel able to approve the application in its received form, this offer may be for a lower amount or shorter loan term than you originally applied for.

Once you’ve accepted the offer, it’s then simply a matter of transferring the funds. This should in theory be fairly fast, depending on how slick the lender’s (and your bank’s) systems and processes are.

Compare payday and short-term instalment loan rates

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
£50 to £800
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.
£300 to £800
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.
£100 to £1,000
Representative example: Borrow £400 for 6 months at a rate of 229.95% p.a. (fixed). Representative APR 720% and total payable: £707.01 in 6 monthly payments of £117.83.
£50 to £1,000
Representative example: Borrow £250 for 74 days at a rate of 292% p.a. (fixed). Representative APR 1300.5% and total payable: £398.00, in 1 payment of £74.00 and 1 payment of £324.00.
£300 to £1,000
Representative example: Borrow £500 for 5 months at a rate of 292% p.a. (fixed). Representative APR 1,297% and total payable: £867.05 in 5 instalments of £173.41.
£100 to £1,000
Representative example: Borrow £480 for 9 months at a rate of 133.1% p.a. (fixed). Representative 535% APR and total payable £959.04 in 9 monthly payments of £106.56.
£100 to £2,500
Borrow £100 for 8 months at a rate of 204% p.a. (fixed). Representative APR 567% and total payable £199.33 in 8 monthly payments of £19.93. You can repay this loan early.
£250 to £1,000
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.

Compare up to 4 providers

Important information: 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
Moneyboat Short Term Loan
Peachy Loan
QuickQuid Short Term Loan
QuidMarket Short Term Loan
Satsuma Short Term Loan
Sunny Loan
The Money Platform Short Term Loan

Tickets to the game

Man on tablet Hugo’s best friend is moving soon, and he wants to treat him to tickets for the big game. Good seats are costly — about £90 per person — and Hugo knows they’ll be sold out if he waits until his payday.

He decides to look into a payday loan that deposits cash directly into his current account. Hugo compares lenders to find a company with a competitive rate, checks he’s eligible, then completes an online application. Within an hour, he has the money he needs to give his friend the send-off he deserves.

Hugo pays off the £200 loan in under a month. It’s been quick and convenient, but cost him an eye-watering £32 in interest.

Top features to compare

If you’re thinking of applying for an instant payday loan or short-term instalment loan, take some time to review these key features to choose a lender that’s right for you.

  • Total amount payable. This figure should be your main focus when comparing lenders. It takes into account the rate plus any fees. Keep it as low as possible while ensuring the repayments are affordable.
  • Eligibility. Don’t waste time looking into (let alone applying for) a loan if you’re not eligible for it. Remember that each application for credit will affect your credit record.
  • Amounts and terms available. A loan with a great rate is one thing, but if you can’t get it for the duration and amount that you need, it’s unlikely to be suitable or cost-effective.
  • Turnaround time. Most payday lenders like to shout about how fast they are – as you can see from the table of turnaround times on this page. If you’re really in a rush, choose one of the faster options.
  • Early repayment terms. Most short-term lenders only charge you for the days on which you borrow, and will happily let you repay some or all of your loan early at any time. If you think this would be a possibility for you, double check the lender’s policy before proceeding – there are significant savings to be had.

Benefits and drawbacks to consider

What are the benefits?

  • You can use the funds for almost any purpose. Payday and other short-term loans are an option when you’ve been hit by an unexpected, temporary shortfall. This could include paying a bill that was larger than anticipated, car repairs or fixing an appliance.
  • You can still apply with bad credit. Bad credit doesn’t have to stop you from getting a loan. Most direct payday loan providers focus on your ability to repay, instead of your credit rating.
  • You’ll get the money quickly. If you need money in a hurry, applying for a payday loan is one of your options. Some lenders can give you the required money within minutes.

What are the drawbacks?

  • Sky-high rates. Payday loans tend to charge considerably higher interest when compared with conventional loans. If you don’t repay your loan on time, you could be penalised with additional fees and it will damage your credit record further.
  • It’s a short-term solution. Hopefully your loan will get you out of a jam. Realistically, it’s not a cure-all for ongoing money problems, though. Try not to use these loans repeatedly, or you’re likely to get stuck in a cycle of debt.

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although 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, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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