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Quidie short-term loans review

Quidie offers “payday” or short-term loans of £100 to £1,000 to be repaid over 2 to 6 months.

Launched in 2012, Quidie offers short-term loans that can be applied for and funded entirely online without the need to speak to an advisor. If you would like to ask Quidie a question about a loan, it offers a live chat service on its website. You can sign for your loan electronically and, once approved, the money will be in your bank account in just 15 minutes. Quidie funds its loans around the clock so you don’t need to apply in working hours. You have to live in England or Wales to be eligible.

Quidie offers a competitive interest rate at substantially less than the maximum allowed by the Financial Conduct Authority in this market. However, it is still higher than you would be offered by a mainstream bank, so this remains an expensive way to borrow money.

Quidie is authorised and regulated by the Financial Conduct Authority.

Key features of a Quidie loan:

  • Borrow £100 to £1,000. Choose an amount to suit you, up to £1,000.
  • Choose how you repay your loan. You can take out your loan as a payday loan, where you pay it off in one lump sum after you next get paid. Or you can spread the cost over instalments of between 2 and 6 months. This option may make the repayments more manageable, but it is worth noting that the quicker you pay off your loan the less you will pay in interest overall.
  • Fast payment. Once approved, the money can be in your bank account in just 15 minutes. Quidie funds its loans 24/7.
  • Fixed, high interest rates. Although Quidie’s interest rates are lower than many of its competitors in this market, this is realistically still an expensive way to borrow money.
  • No late fees. Quidie will not charge you if you miss a repayment. However, doing so will harm your credit rating and will cost you more in interest.
  • Early repayment. Once the loan is in effect, you can choose to repay it at any time prior to the agreed date. There are no early payment penalties for doing this. You pay interest only for the days that the loan is outstanding.

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 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 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

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

Short-term or “payday” loans offer a fast solution when you get into unexpected difficulties with your finances, but they are a very expensive method of borrowing. Therefore, you should only consider this option 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 if you have 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 unavoidable? 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.

How does a Quidie loan work?

  1. Complete the online application form with your personal, employment and financial details.
  2. Quidie will use the details you provided as well as information from credit reference agencies to assess your creditworthiness and ability to repay a loan.
  3. Quidie will give you an initial decision in seconds.
  4. If you pass these automated checks, you will be sent some documents over email which contain important information about your loan. It is essential that you read these carefully. If you have any questions at this point you can call a Quidie advisor or use live chat on the website to talk them through.
  5. Once you have read and agreed to the loan terms and conditions, you can electronically sign the document. This is a legally binding signature and has the same effect as if you had signed with your own handwriting.
  6. Depending on your personal circumstances, Quidie may perform a final, manual affordability assessment before agreeing to provide you with a loan. You will be given a final decision over email. Quidie aims to do this as quickly as possible and it will never take more than 24 hours.
  7. If you are approved, the money will be in your bank account within just 15 minutes.

How do I pay back my loan?

Like most short-term loan providers, Quidie uses a Continuous Payment Authority (CPA) to collect the repayments from your bank account 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.

CPA differs from 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 CPA to collect your repayments, however you can cancel this at any point by either consulting with your provider or your bank.

What are the eligibility requirements?

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

  • Be at least 21 years old.
  • Be a resident of England or Wales.
  • Be in regular, paid employment.

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.

Frequently asked questions

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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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