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 who 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 moneyadviceservice.org.uk.

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.

How do Anico’s loans compare against other lenders’?

Table: promoted deals, sorted by total payable

If you’ve used the Anico site to get a quote and want to see if you’re getting a good deal, find out how much a comparable loan is likely to cost you from some popular short-term lenders:

How much do you need to borrow?


How long do you need to borrow for?


Name Product Available Amounts Monthly repayment Total payable
Lending Stream Instalment Loan
£50 to £1,500
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.
Moneyboat Short Term Loan
£200 to £1,500
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.
QuidMarket Short Term Loan
£100 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.
Satsuma Short Term Loan
£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.
Sunny Loan
£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.

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
Moneyboat Short Term Loan
QuidMarket Short Term Loan
Satsuma Short Term Loan
Sunny Loan

Key features of an Anico loan

Unlike a “payday loan” 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 overall cost of the loan.

Product NameAnico Finance Short Term Loan
Available Amounts£300 to £2,000
New customer maximum£1,000
Loan terms3 months to 12 months
Maximum APR607.9%
Soft search eligibility check
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 point
FCA registration number718188
More Info

How does a short term loan from Anico work?

  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 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.

CPA’s differ from a 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 a CPA to collect your repayments, however you can cancel this at any point by either consulting with the lender or your bank.

What are the eligibility requirements?

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.
More Info

Early repayment options

Repay early at any point
Repaying early can reduce overall interest
Phone number020 7099 5882
More Info

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.

They additionally 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.

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 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. Is the expenditure that you’re planning absolutely essential? If you are struggling to pay a bill, then try talking to your utility provider to see if you can work out a payment plan. Read more about alternatives to payday/short-term loans at moneyadviceservice.org.uk.

Frequently Asked Questions

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.

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