QuickQuid short-term loans review

QuickQuid provides short-term loans designed to help you manage unexpected expenses between paydays.

Last updated:


Flexible short-term loans from QuickQuid can get you quick access to up to £1,500, with clear terms and a straightforward online application process. QuickQuid tells you the total cost of your loan upfront, so that you know exactly what you’ll need to pay and when.

QuickQuid loans are paid back in either one, two or three payments, depending on the term of the loan. If you opt for a longer loan, where you pay the loan back in two or three payments, then your first payment(s) will purely cover the interest accrued. With the final payment you’ll pay back interest plus the original amount borrowed. This might seem like a good idea, because all but the final instalment will be smaller than if you were steadily chipping away at the capital, however the reality is that you’ll pay more interest overall with an interest-only loan (compared to an interest and capital repayment loan at the same rate).

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.

QuickQuid QuickQuid

5% off the interest of an approved loan

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.

Last verified

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

Payday loans, and high-cost, short-term credit are a very expensive method of borrowing and should only be considered as a last resort. They may not solve your money problems, and are not a good idea for borrowing over longer periods, or for sustained borrowing.

Before you apply for a payday or short-term loan, make sure you’ve considered other options. 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’re struggling to pay a bill, then why not talk 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.

Key features of a QuickQuid loan:

  • Loans up to £1500. The amount you’re able to borrow will depend on your personal circumstances.
  • 1, 2 or 3 month terms available.
  • Simple application. Fill in your personal, contact, employment and financial details online.
  • Access funds quickly. If approved, get cash sent within 10 minutes of approval
  • Repay early at any time. This could save you money in interest.
  • Late repayment fee of £15.

How do QuickQuid’s loans hold up against the competition?

Table: promoted deals, sorted by total payable

As well as comparing short-term loans with other types of credit, before you apply for a loan, it’s a good idea to shop around and compare a range of lenders. You can use the tool below to get an idea of how much the loan that you have in mind might cost.

How much money do you need to borrow?

How long do you need to borrow over?

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

How does a short term loan from QuickQuid work?

If you’re looking to get a loan over more than one month, then unlike most of their competitors, QuickQuid won’t ask you to pay back the original amount borrowed until the end of the term (your first payment(s) will consist of interest only). So your first payment(s) will be smaller, while your final payment will be significantly larger. This might seem fantastic, but bear in mind that this means you’ll pay more interest overall than if you were chipping away each month at the capital borrowed.

You can apply online for a loan amount and repayment period. You can either link a debit card for your repayments or authorise direct debit from your bank account. Repayment(s) will then be collected from your preferred repayment method on the date(s) listed on your contract. Your loan won’t be funded until you have authorised a valid repayment method.

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, although you can cancel this at any point by either consulting with your provider or your bank.

What are the different repayment periods?

  • 1 period. Your loan amount and accrued interest are due on your repayment date
  • 2 periods. Your accrued interest is due on your first repayment date. On your second repayment date, you’ll pay your loan amount plus additional accrued interest.
  • 3 periods. Your accrued interest is due on your first two repayment dates. On your third repayment date, you’ll pay your loan amount plus additional accrued interest.

No matter which repayment period you choose, you’re able to repay part, or all of your loan early at no additional cost. This can help you save money by reducing the amount you pay in interest.

What are the eligibility requirements?

You should only apply for a QuickQuid loan if you’re certain you can meet the repayment schedule, and you also meet the following criteria:

  • You have a valid UK bank account
  • You are employed and receiving a regular paycheque
  • You’re a UK resident
  • You’re at least 18 years old

How do I apply for a loan from QuickQuid?

  1. Estimate the cost of your loan using their online tool
  2. Start your online application by filing in your personal details
  3. Fill in your employment and financial details
  4. Select the loan you want
  5. Your application will be approved, under review or declined
  6. If accepted, receive your cash within 10 minutes of application approval

Additional borrowing options

Top-Ups. If you have an active loan in good standing, you may be eligible for a QuickQuid top-up on your loan if you have principal remaining on your approval limit. If you apply and are approved for a top-up, you will repay your original loan amount, plus top-up, interest and any fees, either according to your current repayment schedule or in conjunction with an extension.

Extensions. If you need more time to pay back your loan, you may be able to request an extension by logging in to your online account. If approved for an extension, you’ll be able to extend repayment of your loan’s principal by either one or two additional pay periods. You will be assessed daily interest for this additional time. You can apply for a maximum of two extensions per loan, for a maximum total loan duration of three periods.

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.

Frequently asked questions

Back to top

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.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site