Auden

Auden loans review and calculator

Auden aims to offer an ethical take on the traditional "payday" loan, with flexible loans of £200 to £500 repayable over 3 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: Late repayment can cause you serious money problems. For help, go to moneyhelper.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.

Auden loans calculator

Table: promoted deals, sorted by total payable

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 Link
Auden Short Term Loan
£200 to £500
Go to site
More Info
Representative example: Borrow £500 for 91 days at a rate of 113.15% p.a. (variable). Representative 195.02% APR and total payable £595.64. You’d pay two monthly instalments of £198.55 and your third and final payment would be £198.54.
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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Key features of an Auden loan

Product NameAuden Short Term Loan
Available Amounts£200 to £500
Loan terms3 months
Soft search eligibility check
Funding speedAuden says that in most cases the loan will be transferred to your bank within 60 minutes of approval. The money is normally in your account soon after but at times this can take between 1-2 hours.
Repayment period optionsMonthly
Default repayment methodContinuous payment authority
Repay early at any point
FCA registration number674148
LinkGo to site

How does an Auden loan work?

  1. Use the sliders on our calculator to choose how much you would like to borrow then hit “Go to site”.
  2. On the Auden site, you’ll be prompted to “Continue my eligibility check”. This usually takes about 10-15 minutes, and it involves allowing Auden to make a secure connection to your main bank account to make sure your loan is affordable for you.
  3. If you give Auden your consent, it will then perform an identity and credit check on you.
  4. Auden will take into account your personal financial situation and then make a decision on your loan.
  5. Once approved, you should receive the money within 60 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:

ResidencyUK resident
Minimum age18
Additional eligibility notesYou must have a bank account (at the moment, Auden doesn't accept joint bank accounts).
You must have a debit card with a major bank (unfortunately, Auden can't accept Monzo, Starling or Revolut at the moment) which passes a zero-authorisation check.
You must have a mobile phone and email address.
LinkGo to site

Changing you loan: Additional borrowing options and early repayment

Option to change repayment date
Repay early at any point
Repaying early can reduce overall interest
Interest is only applied to days where funds are outstanding
Multiple loans allowed at the same time
Option to extend loan term
Phone number0808 258 2525
LinkGo to site

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.

Our verdict

We liked that Auden doesn’t charge late fees (late payments will hurt your credit score, however, and you’ll end up paying more interest too). We also liked that you can repay early and only get charged for the days on which you borrow. The interest rates are steep – you’re still better off trying to avoid any high-cost, short-term borrowing if you can – however plenty of other lenders in the same space charge significantly higher rates.

Some may be put off by needing to give Auden read-only visibility of their current account using open banking, however this technology is now becoming much more widely by finance apps and lenders alike.

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

Short-term loans from lenders like Auden 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.

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.

More guides on Finder

  • Sites like Auden payday loans

    Looking for a loan similar to Auden payday loans? Auden isn’t the only short-term loan provider around. Check out our list of UK lenders that offer similar products/services to Auden.

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