Cashfloat's Payday Loans

Probably the best payday loan in the UK! We may not be the cheapest brand in the market, but we always treat our customers with understanding, respect and a smile. Get the money you need from a brand you can trust.

Apply for £300 - £1,500 now
Representative example: Borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, and last monthly repayment of £112.20. Total amount payable: £1,179.05. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74%. All our loans are available for 3 to 9 months - rates between 295.58% APR and a maximum APR of 1294%.
Warning: Late repayments can cause you serious money problems. For help, go to moneyhelper.org.uk
It takes only 2-3 minutes to apply
Yes, we are a direct lender
Our full FCA authorization number is: 714479
No guarantor is needed

A Payday Lender you can Trust

Cashfloat is an established payday loans lender in the UK. We help you get the money you need when you need it in the simplest and fastest way possible. Our customers are our number one priority, but don’t just take our word for it. See what our customers have to say!

“This is by far the best loan company I have used. Quick and easy to apply and prompt payment. Money even received on a Sunday! The website is brilliant when you have a loan and can make payments easily to save a lot of money on interest which I have found almost impossible on other loan websites.” Sadie Weller
“Just when I thought I’ll not be eligible but tried anyway, it came through and you saved me a whole lot of headache. Thank you” Albert O
“Was very pleased with service & ‘simple’ application form (completed evening) . No ‘pinging’ off pool of other companies. & funding was made before mid-day. Staff on phone were efficient & friendly: Thank you :)” M Mote
“Highly recommend very helpful cud not fault anything and the funds were in my account within a hour wud definitely use this company again and the interest isn’t that bad neither the service was very good there wasn’t anything I didn’t like about it.” JuliannaLucas

Getting a payday loan from Cashfloat

A payday loan can be the solution you need to cover life’s unexpected situations, and at Cashfloat we can help you get a decision fast. Our simple application takes just minutes to complete and can be approved the same day, helping you get the cash you need fast, even with bad credit credit history. Just click apply now and you can complete an application in minutes for a short term loan up to £1,500 today.

At Cashfloat, we provide payday loans for all types of credit scores, and we have already helped over 150,000 people, receiving plenty of great reviews from our customers. We respect our customer’s time and always strive to give them the best borrowing experience online.

You can discover everything you need to know about payday loans below and if they could be ideal for you in an emergency. Once you feel ready and well informed, just click ‘apply now’ button to begin your application.

Payday loans for bad credit

Do you have bad credit? Apply for a payday loan with us no matter your credit score.

Loans from a direct lender

Get your payday loan directly from Cashfloat, a trusted direct lender.

Payday loans online

Looking for a hassle-free experience? Cashfloat’s application form is 100% online.

Instant payday loans

Need cash fast? Cashfloat gives an instant insitial decision to all customers.

Best payday loans

Looking for the best payday loans? Cashfloat is a well trusted lender in the UK.

Quick payday loans

Need money quick? Apply now and get the money in your bank within 1 hour*.

Same day loans

Apply now for a loan with Cashfloat and get your money the same day.

Small payday loans

Need funding for a small emergency? Apply here for a payday loan from Cashfloat.

High acceptance payday loans

What are high acceptance loans and should you use them? Click to read more.

Everything you need to know about payday loans

What are payday loans, and when do they need to be repaid?

‘A payday loan is a relatively small amount of money lent at a high-interest rate on the agreement that it will be repaid when the borrower receives their next wages’ (Oxford dictionary). Payday loans tend to be between £100 and £1,000, with average APRs of over 400%. They are paid in instalments on the borrower’s salary day.

Are payday loans and short term loans the same?

Payday loans fall under the category of short-term loans as they’re typically borrowed over a few months only. When payday loans were introduced back in the earlty 2010s, they were typically borrowed for just 1 month until the customer’s next payday, but almost all payday loans today are synonymous with short term loans in that they’re repaid over several instalments instead of one lump sum.

When should you borrow payday loans?

You should use payday loans for urgent but temporary cash-flow problems, such as if you:

  • receive a one-off reduced salary, 
  • need to pay an urgent bill or an overdue debt
  • need extra income during holiday seasons, 
  • must cover an emergency medical bill. 

When should you avoid borrowing pay day loans?

You should never use payday loans to pay for recurring bills (like utilities or your rent/mortgage), to pay for luxury items, or non-essential expenses. Other common reasons people use these short term loans when they shouldn’t are:

  • To pay off other debts. It rarely makes sense to pay off other debt with a payday loan as the interest rate is so high. Instead, look into a debt consolidation loan
  • To pay your overdraft. Once in a while, it can be OK to cover your overdraft with a loan, but if this is constantly happening, you should cancel your overdraft to make it impossible to go overdrawn.

What are the main reasons people are declined a payday loan?

  1. If you’re unemployed or on benefits. Lenders will decline your application if you have no income from a steady salary or if you rely solely on benefits.
  2. You are not paying your current credit commitments. Some lenders will accept people with a bad credit history, but not many will accept someone who is not paying their current credit commitments.
  3. You’re borrowing lots of payday loans. Payday loans are heavily regulated, and lenders will be very cautious not to lend to someone who has back-to-back high cost loans.
  4. You’re gambling.

Why are payday loans legal?

Banning payday loans does not always have a purely positive effect (as seen from studies on the 12 USA states where these loans are prohibited). For people who need them and use them responsibly – two-thirds of borrowers based on our statistics – they are a valuable financial tool. Banning payday loans will remove this buffer that can help people avoid expensive overdraft or bounced cheque fees and help them cover emergency expenses.

People may be driven to loan sharks without payday loans – a far worse option. So, instead of banning them, the FCA decided to regulate the industry. 

Why Are payday loans So expensive?

Unless they charge high-interest rates, payday loan companies wouldn’t be profitable and would be unable to offer their services to the public. After all, with the current FCA interest cap in place, they only make £24 per £100 borrowed over 30 days. If they charged the same rates as long-term loans, they wouldn’t be able to help people who rely on payday loans for emergencies.

Can I get a cheap payday loan?

Payday loans are an expensive product, so it will be hard to find cheap payday loans. With Cashfloat’s easy start option, you can get a lower APR on your loan. Other lenders might offer more expensive loans to people with poor credit, but we offer the same rates to everyone – whatever your credit score.

Payday loans vs bank Loans

Payday loans differ from bank loans in that they are much quicker to apply for and the money will be in your account faster. However, payday loans come in much smaller amounts than bank loans, and also have very high interest rates. If you’re not pressed for time and just need a small amount to tide you over until payday, a small payday loan could be just right for you. Bank loans, on the other hand, are better for people who need to borrow more money. Many people take this kind of loan for improving their assets and consolidating existing debts.

Personal loans vs payday loans

If you can meet the lender’s requirements, personal loans will always allow you to borrow more money at once than any payday loan. They also go over the limit of many credit cards and overdrafts. Also, the loan repayments are typically in fixed monthly sums, making your repayments much easier to budget. Payday loans are easier to get approved for and can be in your account in mere hours. However, you can only borrow smaller amounts, and your debt can snowball if you cannot keep on top of the repayments.

How to apply for our payday loans online

Are Payday Loans Safe?

In 2015, the FCA introduced an interest cap on payday loans that changed the UK payday loan market forever. Now, when you borrow a loan online, the interest can’t exceed 0.8% per day, and you can’t be charged more than double the amount borrowed.

Default fees were also capped to £15 per loan, although if a lender takes legal action against you, legal fees will be added to your balance. We’re not saying payday loans are safe – but they are better regulated. Still, they’re expensive and should only be used in emergencies.


FAQ’s about Cashfloat’s Loans

Who can apply with Cashfloat?

As long as you live in the UK, have a UK bank account, are in full-time employment, and are over 18, you can apply for a loan with us. We process applications between 9 am and 5.30 pm on Sunday to Fridays, and on bank holidays.

How long does it take for Cashfloat to fund loans?

Once a loan underwriter approves your loan, it will be funded within 1 hour. So how long does it take for an underwriter to decide? This can vary between 20 minutes to 4 hours, depending on whether you’ve submitted all the information needed to make a final decision.

Do you offer payday loans with no credit check?

Payday loans with no credit checks do exist, but only from a payday loan shop or a doorstep lender. Since online lenders don’t know you and can’t verify your identity in person, a responsible lender will need to carry out a series of robust checks, including credit and fraud checks.

Do you have an alternative to payday loans?

Yes, if you are looking for a bigger loan with cheaper interest rates, you can apply for our small personal loans and get up to a £2,500 loan over a longer period than our short term payday loans. The cheaper rates on our small personal loans also make them far more affordable and help you finance larger expenses without getting stuck into a continuous cycle of debt.

I’ve been pre-approved for a Cashfloat loan. What happens next?

How much do you need?

Other amount

Ready to apply?

£500
Borrowing
£239.99
Interest
£739.99
Total amount payable

Repayment period: 3 months, 2 monthly repayments of £246.66, last month repayment of £246.67

APPLY NOW

Representative example: Borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, last monthly repayment of £112.20. Total repayment £1,179.05. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74% Our APR includes all applicable fees. Daily interest is capped at 0.793%.