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.
Sites like PiggyBank
The now-defunct direct lender PiggyBank provided straightforward payday and short term loans online. PiggyBank's application and approval process was ultra–streamlined, but the loans came with very high rates of interest. We’ve put together a list of UK lenders offering similar services.
PiggyBank provides short term loans over terms from as little as one week through to five months, to be repaid, monthly, weekly or even fortnightly. They’re fast, flexible and available to borrowers with a wide range of credit histories.
This convenience is offset by high interest rates, however. “Payday”-style loans are meant to get you through the month after an unexpected expense, until your next paycheck reaches your account, so they’re only suitable for one-off, unforeseen expenses.
While the well-known lender Wonga isn’t an option anymore, there are a series of alternative loan companies vying for your custom.
You can expect similar features from all of them: low or zero fees, high APR, quick access to the money once the application has been accepted and only a small amount of time to repay your debt, typically no more than six months.
Our tool at the end of this page allows you to compare the cost of payday or short term loans from multiple lenders. Alternatively, here are some sites similar to PiggyBank.
Estimate the cost of borrowing
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 table below to get an idea of how much the loan you have in mind might cost.
We compare payday/short-term loans from
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