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. Loan amounts between £1,000 and £15,000 starting from 99.9%.
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Our calculator lets you pick how much you want to borrow over a time frame that suits you, so you can estimate how much you would pay back each month and pay back overall. We base our calculations on Evlo’s representative APR, but it’s important to note that your circumstances can affect the rate you’re offered.
How do Evlo loans compare against the competition?
See today's rates from across the personal loan market.
Everyday Loans was set up 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.
Evlo loan rates at a glance
The Evlo Personal Loan charges 99.9%APR representative on loans between £1,000 and £15,000. Evlo offers the unsecured personal loan with repayment terms between 18months and 5years, and applicants can apply to borrow from £1,000 to £15,000.
All interest rates are fixed for the duration of your repayment period. However, the rate you’re offered depends on factors like the amount you apply for, the loan’s terms, your credit rating and your income. It may differ from the advertised “Representative APR”.
Loan type
Unsecured Personal Loan
Loan amounts
£1,000.00 to £15,000.00
Loan terms
18 months to 5 years
Loan rate type
Fixed
Fee
Varies
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 methods
Direct Debit
APR and Representative APR explained
The Annual Percentage Rate (APR) is a summary of the yearly cost of a loan. It takes into account both interest and any unavoidable charges you'll need to pay (for example an arrangement/product fee) over the duration of a loan. Because Virgin Money doesn't charge an arrangement fee, its APR comprises just the interest rate – and so they're one and the same.
However, the vast majority of lenders tailor rates (and therefore APRs) to the individual applicant. If they think you're a riskier bet, they'll offset that by offering you a higher APR. The "representative APR" (as defined by the Financial Conduct Authority) is what Virgin Money gives to at least 51% of those who take out the loan. The other 49% could pay more. Virgin Money must calculate APR in the same way as other lenders, and must tell you your personal APR before you sign a loan agreement.
Virgin Money advertises a representative APR of 0.0% on loans between £0 and £0 on the Virgin Money Existing Customer Personal Loan.
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 are considered. You shouldn’t apply unless you’re certain you can meet the repayment terms and match 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 4.3 out of 5, based on more than 6,800 reviews (updated May 2024). Many customers praised their professional customer service, and others complained about their high interest rates.
Customer support
For help on your personal loans, you can fill out an online form on the Everyday Loans website or call on 0330 3033 503.
How do I apply?
If you’ve decided that an Everyday Loan personal loan is right for you, apply online by following the loan application process. New customers need to visit a branch, which can be found in most cities and major towns across the UK.
Our verdict
If you’re looking for a straightforward process where you don’t need to put up collateral, then Everyday Loans could be a good option. They base their lending on creditworthiness, so a good credit rating helps you when you apply. Not to mention, you can get quick and effective support from their customer service team if you need assistance.
Frequently asked questions
You need to bring the following documents:
Proof of Identity for each borrower (Passport/ Drivers licence)
Proof of where you live (Utility bill/ Bank statement)
Proof of income (Recent payslip/ 2 months’ bank accounts)
It takes a couple of minutes on the phone to arrange the first meeting. This meeting takes place at your local branch and should take no longer than 45 minutes – at which point, provided Everyday Loans have all the information they need, you can be issued a cheque before you leave.
A soft search allows you to receive as many quotes as you like without leaving a footprint on your credit file. This stops you from applying for the wrong products and harming your credit score, which would make it harder to be accepted for the right loan. You can then choose the right quote for you and proceed with that application.
No. Unlike some other loan lenders, Evlo does not charge any fees. Just a lot of interest
If you cannot make payments, it’s highly important to contact Everyday Loans to manage the situation.
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. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
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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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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 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 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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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