Cheap Loans

Looking for a cheap loan? Cashfloat offer cheap loan deals at competitive interest rates. We are an FCA authorised lender offering up to £1100. Worried about your bad credit score? Don’t be. It may still be possible for us to offer you a loan. Need it fast? We give you an instant decision after applying and if approved, same day funding.


Your Cheap Loans Information Card
  • You can get cheap loans from £200 to £1100
  • Feel free to apply, even with a bad credit score
  • You can repay your cheap loan in up to 4 instalments
How Much Can I Borrow?
  • 3 minutes to complete the online application form
  • 90 seconds instant lending decision
  • 1 hour from approval, the money should be in your bank account

* Average numbers

How Fast Can I have the Money?
  • We are an FCA authorised cheap loans direct lender.
  • We welcome people with bad-credit
  • Unsecured loans, no guarantor needed
Why Cashfloat?
FAQs about Cheap Loans

You might need a loan to complete a big purchase or investment, or you might just need a loan to cover an emergency expense until payday. Either way, every type of loan has a price range. Before taking the first offer, explore all your available options to make sure you are making the right decision – you may even find a cheaper option that is better suited for your needs! In this article, we will look at what cheap loans are, where they can be found in the UK and how to compare them.


Cheap Loans UK

So you’re looking for cheap cash loans online. Before you begin, you need to understand what makes certain loans cheaper than others:

  1. Security – Secured loans often have the cheapest loan rates since your loan is secured against collateral, so there is little risk for the lender. This means that if you don’t pay your loan, the lender is legally allowed to confiscate the secured valuable to cover the expense of the loan.

  2. Guarantor or no guarantor? – Guarantor loans have cheaper loan rates than no guarantor loans since if you do not pay the loan, the lender can legally require your guarantor or cosigner to pay the debt instead.


  3. Credit History – Many times, lenders offer better rates to customers who have a better credit rating as there is a stronger likelihood that they will get their money back.

  4. Length of loan – Shorter loans for smaller amounts may have higher interest rates, they can end up being cheaper than bigger loans taken over a longer period of time with the same interest rate.

Are Cheap Loans Safe?

Although our Cashfloat loans have a cheap loan rate, we do not compromise on the safety of lending to you. All our loans are FCA authorised and we therefore comply with all the regulations they have set down. This ensures we lend fairly and morally. All our loans are unsecured and therefore, you are not required to have a guarantor. This makes them easier for you to access and overall a faster loan process.

Cheap Loans – Bad Credit

If you are looking specifically for cheap loans, bad credit can get in the way, as traditional lenders are not always happy to risk lending to people with bad credit. To obtain a cheap loan with bad credit, you may have to give the lender collateral that they can reposess in the case of non-payment. Another way to get cheap loans for poor credit is to take a guarantor loan, or a loan where you co-sign with someone else. This means that if you do not pay the loan, the guarantor or cosigner will legally have to pay it for you.

Does Cashfloat Give Cheap Loans for Bad Credit?

If you have a bad credit score, not every lender will agree to lend you money. Some lenders might only agree to give you cheap rate loans if you have a guarantor. Of course, this makes the process much harder, especially if you don’t feel comfortable approaching friends and family for help. Luckily, unsecured loans for bad credit with no guarantor do exist in the UK. With Cashfloat, you can apply for cheap unsecured loans and we will never ask you to cosign with a guarantor. If you have bad credit, we will still do our best to approve you as long as you pass all our other lending checks. Apply now for an instant decision!

Are Cheap Cash Loans Available Online in the UK?

It’s funny to think that just a few decades ago you could only borrow money from a bank or a traditional moneylender. Nowadays, new generation lenders like Cashfloat make borrowing cash online seem effortless. Online rates are competitive, and it only takes a few minutes to apply. If you are approved, the money can be with you in just a few short hours. Nevertheless, because cheap loans online are so accessible, you need to make sure that you are only borrowing when you really need to. Cheap loans in the UK are easily available online but should only be borrowed after careful consideration, as with any other financial product.

How Can I Compare Cheap Loans with Low Interest Rates Online?

Due to the confusion caused by lenders offering loans with different types of interest rates, the representation of interest rates as an APR was introduced to make loans easier to compare. As a result, any lender that you look into should have a representative APR shown clearly on their website.

However, we have found that APR can be misleading as it gives you the rate of interest that you will pay over a year, even if the loan is just for a few months. For this reason, payday lenders have sky-high APR rates – as their products usually only span over a month. Therefore, when using the APR parameter to find cheap interest loans, only compare similar types of loans.

Where Can I Find Quick and Cheap Loans from a Direct Lender with an Instant Decision?

With Cashfloat, you can apply for a quick and cheap payday loan in under 3 minutes. We are a direct lender, which means that the process is way quicker than if you would be dealing with a broker. Our instant decision feature means that you can have a lending decision within 90 seconds of applying. If approved, the money can be with you by the end of the day.

Our loans are not the cheapest loans in comparison to other financial products, but they are affordable. When used correctly, a Cashfloat loan could be just the thing you need to get you through that rough patch.


How Much Can I Get with a Cashfloat Cheap Loan?

When you are unable to obtain small cheap loans through the traditional methods of borrowing, you can get small payday loans online with an APR as low as 997% from Cashfloat. Cashfloat offers small loans ranging from £200 to £1,100. Although you agree to pay your loan in 1-4 months, we allow you to pay however much you want whenever you want through our 24/7 online self service option. Want to find out more? Chat to us now!

Small loans can be obtained from various places. You can ask your bank what their cheapest small loans are, however, they might offer you a credit card with a low credit limit instead. Another option is using the unauthorised overdraft facility on your current account, but this can prove very expensive if not managed very carefully.


Do Cashfloat Offer Cheap Loans with Same Day Funding?

Our payday loans are not just one of the cheapest loans in the UK, they are quick too. Once you have received our instant decision, Cashfloat does its best to deposit the loan on the same day. This can often only take an hour. We understand that time is important for your peace of mind and also your line of bills waiting to be paid. However, although we do our bit on this side to ensure we give you the loan as soon as possible, it may take more than 1 day for you to see it in your account. This is often due to your bank not supporting Faster Payment Service (FPS) or you applied during a weekend.


What is the Loan Process?

The first thing you need to do is fill out our cheap loan application form online. This should take no more than 2-3 minutes. However, it is essential that your details are accurate as we check your credit score and evaluate your affordability. Once you have applied, in most cases, it takes us only 90 seconds to respond. The decision time can extend up to 30 minutes on a working day. If you are approved for a cheap loan, we do our best to fund you on the same day. Again, this is dependant on your bank and if it is a working day or weekend.

Cheap Loans For 5000

£5,000 loans are already considered bigger loans. The interest rates can vary depending on the institution you are borrowing from or the terms of the loan agreement, such as whether the loan is secured or not. The most important thing to do when looking for cheap finance loans is explore all your options and get several quotes before finalising any agreement. If you have poor credit and are declined a bigger loan, don’t be tempted to take several smaller loans as these can work out far more expensive and harder to manage!

Cheap Loans Rates

Different types of loans have different loan rates. For example, a bank loan can have an interest rate as low as 3%, whereas a cheap loans APR for a payday loan is 997% (Yes, Cashfloat’s APR is 997%, and is one of the cheapest available for payday loans!) To find cheap APR loans that are suitable for your current situation, you will need to roll up your sleeves and do some research. Don’t rely on loan comparison sites as they will only show lenders that pay to be there. There may be better lenders online that are not featured on comparison websites but have great service, cheap APR and flexible repayment options.


Best Loans

Google does not know what is best for you – it is not aware of what the loan is for, what your affordability looks like or how credit worthy you are. So, it hardly makes sense to google ‘best loans online for me’. If you need to find the best loan for you, you need to think about what you need the loan for, how much you need and how much you can afford to repay. Then you can search for different lenders until you find one that meets all your requirements

First of all, when you are looking for cheap finance loans online, you need to think about which features are important to you. For example, if you need the loan asap, you will need to look for the best quick loans. If you are on a very tight budget, you might search for cheap loans online instead. At the end of the day, what is best for you is not also best for Tom, Dick and Harry. So, first decide what you need out of your loan and then find a lender that offers loans that tick all the boxes. Of course, don’t forget to check out the lender too and make sure they tick all the boxes of a safe and responsible lender. You can find out what to look for in a lender here.


Best Loans UK

Are you looking for the best loans in the UK? Newsflash: So is everyone else. It’s not so easy to find the best installment loans in a short amount of time, so be prepared to put in a decent amount of time for your research.

Remember: The best loans are not necessarily the cheapest loans! In today’s day and age, we pay for quality. For example, if you buy cheap shoes, they are less likely to last you a reasonable amount of time. Many times, if you invest a little more, you get better quality with better service and better terms. The same applies when looking for the best cheap loans online. The cheapest option is not always the best option for you.

Best Loans for Bad Credit

If you have bad credit, it may be harder for you to obtain credit online. It is a good idea to try and improve your credit score before trying to apply so that you don’t have too many credit searches showing on your credit file – that can be damaging to your credit file too.


Best Loans for Poor Credit

The best loans for poor credit will be loans where you don’t need to give any collateral or guarantor. The obvious downside is that they are not as cheap. Cashfloat offers loans for bad credit across the UK at a reasonable price. What’s more, we can help you IMPROVE your credit just by giving you credit. Now that can be a worthwhile investment!


Best Loans Company

Nowadays, there are so many ways to compare loan companies online, but we prefer the old fashioned way. Rather than using biased loan comparison sites, we suggest that you make a list of all the lenders that you are interested in. Then go on each of their websites and compare their features until you come out with a winner. For the best payday loans, here are some features we think you should compare:


Best Loans Online

Like we said, the best loan for you is not necessarily the best loan for someone else, but if you are looking for a payday loan online, Cashfloat could be just the right address.

With Cashfloat, you get flexible loans at an affordable price with great customer service. Of course, you don’t have to make a hasty decision. Do your research first and then come back and apply when you are sure that we are the best loan provider for you.

What are the Best Unsecured Loans for Poor Credit?

There are lots of different types of unsecured loans. However, if you have a bad credit history, the best loans for bad credit could be from bad credit payday lenders. These could be the best loan companies for bad credit as they don’t require any form of security (such as your house or car) for you to borrow the loan. What’s more, they will often give you the best loan deals for poor credit if you fit all of their other lending criteria. Cashfloat.co.uk supplies cheap unsecured loans for bad credit through our online website. Even with a hopeless credit score, we still believe in you!

How can I Find the Best Low Interest Loans?

To find the best loan interest rates, the best thing to do is check each lender’s website separately. Make a note of the criteria needed to take a loan, the amount and duration ranges, the various loan types and whether the company is FCA authorised or not. Also, make sure to jot down the lenders’ APRs so that you can have a look at which lender offers the best APR loans.

Once you have found a loan that is right for your needs and that has an interest rate that you are happy with, you can use online loan calculators to help you work out the loan particulars before you actually take the final step of borrowing.


How to Spot the Best Loan Providers

Firstly, the best personal loans lenders will definitely be fully authorised by the FCA, so always check the FCA Register for the company’s name and authorisation number. If you are not sure, stay away!

The best loan providers always have the best loans sites. Their website will be fast and easy to use. You will see easy-to-understand language and clearly laid out terms and conditions. If there are lots of vague terms, you should be suspicious that they have something to hide. The best loans websites also look clean and professional. If it looks like your 10 year old sibling decided to have a go at website development, then click ‘Back’ and look for another website.


Conclusion

If you are looking for very cheap loans, a payday loan might not be the best solution for you. Although payday loans can offer fast relief, they can get expensive if not repaid on time. Therefore, make sure to only apply for even the cheapest online loans in the UK if you can repay them.

Finding the best loan at a cheap price is no easy task. However, using Cashfloat, a moral direct lender as your answer, may be your best choice yet. We comply with FCA regulations and offer instant decision and fast payouts of approximately 1 hour. Apply for up to £1100 with bad credit too.


Written by: Sarah Connelly
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