Anico Finance short term loans review

Anico Finance offers loans of up to £1,000 for new customers, which can be paid back monthly, to help cover and spread the cost of an unexpected financial shortfall.

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Anico Finance

Launched in 2012, Anico Finance is a direct lender authorised and regulated by the Financial Conduct Authority (FCA). It offers short term “instalment” loans to customers who have trouble getting credit from mainstream financial institutions or need the money faster than many banks can accommodate. This includes those who work in the UK on a valid VISA and wish to send money back home to family abroad.

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.

Key features of an Anico loan

Unlike a “payday loan”, which is traditionally repaid along with interest in one lump sum on your payday, Anico allows you to pay your loan back in monthly instalments. Spreading the repayment over longer periods can make monthly instalments more manageable but pushes up the loan’s overall cost. Anico loan amounts range from £300 to £2,000, but any amounts over £1,000 are only for returning customers.

Product NameAnico Finance Short Term Loan
Available Amounts£300 to £2,000
Representative APR382%
New customer maximum£1,000
Loan terms3 months to 12 months
Maximum APR607.9%
Soft search eligibility checkcross
Funding speedAnico Finance aims to have the money in your bank account the same day as approval.
Repayment period optionsMonthly
Default repayment methodContinuous payment authority
Repay early at any pointtick
FCA registration number718188

How does a short term loan from Anico work?

If you want to apply for a short term loan from Anico, follow the steps below:

  1. You can apply directly online or speak with an advisor on the phone who can help you complete the application.
  2. Anico Finance will always speak with you to go over the details you have provided. An advisor will need to assess your personal circumstances and also make sure that you fully understand what you are applying for. Some documents will be required, but Anico aims to make this process as simple as possible.
  3. Your affordability and suitability for a short term loan will be assessed.
  4. An agent will contact you with a decision and guide you through your loan agreement and other documents, including the terms and conditions.
  5. Anico Finance aims to have the money in your bank account on the same day as approval.

How do I pay back my loan?

Like most short term loan providers, Anico Finance uses a Continuous Payment Authority (CPA) to collect your repayments on the monthly instalment dates. You can also choose to repay any amount of your loan at any time through a bank transfer.

What is a Continuous Payment Authority (CPA)?

With a CPA, you give a company permission to withdraw money from your account on a regular basis.

CPAs differ from a direct debit because they give the company being paid permission to take money from your account whenever it wishes and to take payments of different amounts without consulting you. Most payday loan companies will use a CPA to collect your repayments, but you can cancel this at any point by either consulting with the lender or your bank.

Under the Consumer Credit Act, you have 14 days in which to cancel a credit or loan agreement if you change your mind. This is known as the “cooling-off period”. You will need to repay the amount borrowed and any interest accrued, but no fees will be charged.”

Rachel Wait, financial journalist

What are the eligibility requirements?

You’ll need to meet the following criteria to apply for a loan with Anico:

ResidencyUK resident (with a valid VISA where applicable)
Minimum age21
Additional eligibility notesYou must be in regular employment or have a regular income.
Your wages or income must be paid directly into your bank account.
You must have a valid debit card and a working bank account.

Early repayment options

Repay early at any pointtick
Repaying early can reduce overall interesttick
Phone number020 7099 5882

Did you know?

In 2015, the Financial Conduct Authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.

It also capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.

Pros and cons of Anico short term loans


  • Personal service. Applicants will always speak to a customer service advisor before a decision on a loan is made. This means the lender can take into account your personal circumstances as well as your credit history.
  • Early repayment. You can settle your loan early at any time, free of charge. This is recommended if you can afford to do so, as it could save you money in interest.
  • No hidden fees or penalty charges. Anico will tell you exactly what you will have to repay before you take out a loan. It will not charge you if you are late on a repayment, but you will pay more in interest and it can affect your credit rating.
  • Fast access to funds. Anico aims to transfer funds on the same day as approval.


  • High interest rates. Like any short term loans, Anico loans have a high interest rate. Make sure you consider all other options before turning to a short term loan.
  • Higher age limit. You must be at least 21 years old to apply for an Anico loan.

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

If you have found yourself with emergency cash flow problems, a short term loan from lenders like Anico can offer a quick and easy solution. However, they are a very expensive form of borrowing and are not the answer for long-term or sustained borrowing or for people with serious debt problems.

Before you apply for a short term loan, make sure you have considered all other options carefully. Think about whether you really need to spend the money or whether you could ask a family member for help. Do you have any savings you could use, or could you borrow through an overdraft or credit card instead? Read more about alternatives to payday/short term loans at

Customer support

To get in touch with Anico Finance, you can call on 020 7099 5882 or send an email to

Our verdict

Short term loans are generally an extremely expensive form of borrowing and may lead to further financial issues down the line. For this reason, it’s crucial to consider all other options first and only use a short-term loan as a last resort. If you must borrow in this way, try to borrow as little as possible and pay it back as quickly as you can to reduce the amount of interest paid.

Frequently Asked Questions

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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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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