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Auden short-term loans

Auden aims to offer an ethical take on the traditional “payday” loan, with flexible loans of £200 to £1,000 repayable in up to 12 months.

Auden is a “for-profit social enterprise” that uses advanced technology to undercut more established lenders in the high-cost, short-term loan market. It claims to be a new type of short-term lender, taking its social responsibilities seriously and permitting borrowers more flexibility than is normal with short-term loans.

But what does all that mean in reality? Well, it doesn’t charge some of the penalties that are normal for many traditional payday lenders, it caps both rates and the maximum amount you can end up paying for your loan at a slightly lower point than the legal requirement and it offers a degree of flexibility in its loans.

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 to support sustained borrowing over long periods and would be expensive as a means of longer term borrowing.

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

If you’ve used the calculator on Auden’s 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
£50 to £800
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1333% APR and total payable £386.61 in 6 monthly payments of £64.44.
£150 to £5,000
Representative Example: Borrow £350 for 6 months at a rate of 220% p.a. (fixed). Representative 651.4% APR and total payable £605.55 in 6 monthly payments of £100.93.
£100 to £1,000
Representative example: Borrow £400 for 6 months at a rate of 259.33% p.a. (fixed). Representative APR 947% and total payable: £750.78 in 6 monthly payments of £125.13.
£100 to £1,000
Representative example: Borrow £250 for 30 days at a rate of 292% p.a. (fixed). Representative APR 1270% and total payable: £310, in 1 payment of £310.
£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.
£50 to £200
Representative example: Borrow £80 for 29 days at a rate of 292% p.a. (fixed). Representative APR 1281.8% and total payable: £98.56, in 1 payment of £98.56.

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
On Stride Personal Loan
Peachy Loan
PiggyBank Short Term Loan
QuickQuid Short Term Loan
QuidMarket Short Term Loan
Satsuma Short Term Loan
247Moneybox Payday Loan

Key features of an Auden loan:

  • Borrow £200-£1,000 over 2-12 months. New customers who have never used a short-term loan before are limited to a loan amount of £400.
  • High, fixed rates. Auden charges a high fixed rate for the first 90 days of your term, followed by a lower rate per day for the remainder. Although Auden aims to undercut competitors by “up to 40%”, it is still realistically an expensive way to borrow money.
  • Quick access to funds. Following approval, funds are usually transferred within an hour.
  • Repay in daily, weekly or monthly instalments. Match up repayments with with your paydays.
  • No late fees. Auden will not charge you a penalty if you are late with a payment, although you will pay extra interest. Always speak to an advisor if you run into difficulties with your repayments as it will harm your credit rating if you are late.
  • Apply for an extension or repayment holiday. If you are struggling to make your repayments, there is an option to extend your loan or take up to two repayment holidays. Bear in mind that you will pay more in interest in the long run.
  • Early repayment. You can pay off your loan in part or in full at any time without being penalised. Doing so could save you money in interest.

How does an Auden loan work?

  1. Use the sliders on the homepage to choose how much you would like to borrow, how long for, and what repayment dates would suit you best.
  2. Click the “Apply now” button to complete the simple application with your personal and financial details. This usually takes about 10-15 minutes.
  3. With your consent, Auden will perform an identity and credit check on you. It will also take into account your personal financial situation before making a decision on your loan.
  4. Once approved, you should receive the money within 15 minutes, however Auden does not pay out over weekends.

How do I pay back my loan?

Like most short-term loan providers, Auden uses a Continuous Payment Authority (CPA) to collect your repayments. As part of the application process, Auden will take details of your debit card and carry out a zero-authorisation check. It does this to verify that the debit card belongs to you and was issued by your bank.

On each loan repayment date, Auden will use these details to collect payment from your current account using your debit card. Your repayment will be debited between 10am and 12pm on your chosen dates.

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. CPAs differ from direct debits 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 CPAs to collect your repayments, however you can cancel this at any point by either contacting your provider or your bank.

What are the eligibility requirements?

You should only apply for an Auden loan if you are certain you can meet the repayment terms. You must also:

  • Live in the UK.
  • Be at least 18 years of age.
  • Have a bank account.
  • Have a debit card which passes a zero-authorisation check
  • Have a mobile phone and email address

Additional borrowing options

  • Extensions. You can request to extend your loan for up to 12 months. This may help to make payments more manageable, but bear in mind that you will pay more in interest.
  • Repayment holidays. Auden offers the option to take two repayment holidays after your first payment but not more than one in any four-month period. Again, this will mean that you pay more in interest overall.
  • Change your repayment date. You can change your repayment date on two occasions but not more than once in any four-month period.

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?

Short-term loans offer a quick solution when you get into difficulty with your finances, but they are a very expensive method of borrowing. Therefore, you should only consider this as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and are not suitable for borrowing over longer periods, or for people who are in serious debt.

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 can defer a purchase then you could save yourself money in the long run. If you are struggling to pay a bill, then try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan. Read more about alternatives to payday loans at moneyadviceservice.org.uk.

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*Disclaimer: The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms "Best", "Top", "Cheap" including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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