A newcomer to the short-term loans market, Tick Tock Loans says its “personal touch” is what sets it apart from its competitors. Rather than a computer making a decision on your loan, a personal account manager will consider your application on an individual basis.
Interest rates will vary depending on your ability to pay and your employment status. Make sure you always take the time to understand what the exact terms are that you’re being offered before you agree to a loan.
If you are approved for a credit facility with Tick Tock Loans, it will act as a direct lender (not a broker). Tick Tock Loans is authorised and regulated by the Financial Conduct Authority.
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 Tick Tock 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 do you need to borrow?
How long do you need to borrow for?
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
Is high-cost, short-term borrowing a good idea?
Short-term or “payday” loans offer a quick fix when you get into unexpected trouble 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 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 a necessity? If you can put off a purchase even for a few months, 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.
Key features of Tick Tock Loans
Borrow £200 to £1,000. Choose a loan amount that suits your circumstances. Never borrow more than you need, as it will cost more in interest.
Borrow for three to six months. Choose a term that makes the monthly repayments affordable for you.
Fast payment. Once approved for a loan, you can expect the money in your bank account within a few hours.
Fixed, high interest rates. With very high interest rates charged daily, this is an expensive way to borrow money.
Poor credit scores considered. Tick Tock Loans may still offer you a short-term loan even if you have a poor or limited credit history.
Manual underwriting. You will be assigned a personal account manager who will call you to talk through your circumstances before deciding whether to approve you for a loan. The interest rate you are offered will depend on your ability to repay the loan and your income.
Early repayment. You can pay off your loan in part or in full any time without being charged a fee. It is a good idea to do this if you can afford to as it will save you money in interest.
How does a loan from Tick Tock Loans work?
Use the sliders on the homepage to select how much you can afford to borrow and for how long.
Complete the online application form, which will ask for details of your monthly income and expenditures. You will need to provide at least three months of bank statements to confirm your income.
Tick Tock Loans will then perform a full credit search to assess your creditworthiness and ability to repay the loan. This will leave a footprint on your credit file.
You will be given a decision on your loan within one working day of your application being submitted.
Once approved, you will receive the money into your bank account within a few hours.
How do I pay back my loan?
You have two options for repaying your loan:
Direct debit or standing order. Simply complete the online form during your application and the money will be collected from your bank by monthly instalment on the agreed date.
Continuous Payment Authority (CPA). Many short-term loan providers use this method of repayment since it allows them to withdraw money directly from your bank account at any time.
What is a 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 a loan through Tick Tock Loans if you are certain you can meet the repayment terms. You must also meet the following criteria:
Be a UK resident.
Be at least 18 years old.
Be legally capable of entering into a binding agreement.
Have a UK bank account.
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 of loans (interest and fees) at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.
Frequently asked questions
This can vary depending on when you apply and how long it takes to verify your employment. Tick Tock Loans will call you on the work contact number you gave them without saying why they are calling or where they are calling from. If they can’t verify your employment this way, they will ask you to email your latest payslip as proof of employment.
The interest rates offered by Tick Tock Loans vary depending on your credit score and employment status. However, its range of rates is very high, making this an expensive way to borrow money.
You should call a Tick Tock Loans advisor as soon as you realise you will have difficulties making a repayment. They may be able to move your repayment date to help you. If you fail to contact them, a £12 charge will be added to your account.
You can see your outstanding loan amount and repayment history by logging into your online account through the website.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.