Everyday Loans

Everyday Loans review

Everyday Loans provides personal loans for bad credit, so if your credit history has had a few bumps in the road, Everyday Loans is a viable alternative to high street banks.

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Everyday Lending was setup back in 2006 with the goal of providing straightforward lending across the UK. It aims to provide a tailored, case-by-case service to each customer, by looking at more than just their credit rating.

Compare Everyday Loans

Table: sorted by representative APR, promoted deals first
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Name Product Total Payable Monthly Repayment Representative APR Link
Everyday Loans Personal Loan
Check eligibility
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Representative example: Borrow £10,000.00 over 3 years at a rate of 99.9% p.a. (fixed). Representative APR 99.9% and total payable £24,451.56 in monthly repayments of £679.21.

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

Everyday Loans loan rates at a glance

The Everyday Loans Personal Loan charges 99.9% APR representative on loans between £1,000 and £15,000. Everyday Loans offers the loan with repayment terms between 18 and 5 years and applicants can apply to borrow from £1,000 to £15,000.

Overview of features

Everyday Loans provides “unsecured” loans meaning they’re based on creditworthiness, rather than the use of property or other assets as collateral. Here are some of the main features of an Everyday Loan:

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £15,000.00
Loan terms18 Months to 5 Years
Loan rate typeFixed
Product fee0%
Same day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit

All interest rates are fixed for the duration of your repayment period, however the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, your credit rating and your income. It may differ from the advertised “Representative APR”.

What is APR?

If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.

All lenders must calculate the APR of their products in the same way, and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.

Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.

Am I eligible for an Everyday Loan?

When applying for a personal loan with Everyday Loans, factors such as your credit history, income and the amount you apply for will be considered. You shouldn’t apply unless you’re certain you can meet the repayment terms, and you meet the following criteria:

  • Aged between 18-75
  • UK resident
  • Have the ability to make regular payments

Everyday Loans customer reviews

Everyday Loans has received positive reviews from customers, according to review site Trustpilot. It currently has an “excellent” rating of 4.5 out of 5, based on more than 4,800 reviews (updated June 2022). Many customers praised their professional customer service and others complained about their high interest rates.

How do I apply?

If you’ve decided that an Everyday Loan personal loan is right for you, then you can apply online by following the loans application process. New customers will need to visit a branch. These can be found in most cities and major towns across the UK.

Frequently asked questions

Will you be approved?

Check your personalised rates and likelihood of acceptance.
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

  • Everyday Loans calculator

    Considering a loan from Everyday Loans? Use our calculator to work out how much it will cost you each month and overall.

  • Sites like Everyday Loans

    Everyday Loans is a specialist lender offering personal loans of up to £15,000 to borrowers with bad credit. A number of like-minded companies cater to this sector.

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