Is Cashfloat Right For You?

Cashfloat might be right for you! We are a direct FCA authorised lender and we give an instant decision and same day payout on our loans. Borrow up to £1100 with bad credit too.


Your Information Card About Loans Right For You
  • You can get a loan right for you from £200 to £1100
  • Feel free to apply, even with a bad credit score
  • You can repay your right loan for you 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 direct lender right for you .
  • We welcome people with bad-credit
  • Unsecured loans, no guarantor needed
Why Cashfloat?
FAQs about our Loans Right for You

Is Cashfloat right for you and can you trust us?


Cashfloat is a responsible direct lender. We provide transparent, affordable and responsible short-term loans to citizens in full time employment in the UK.


Before applying for a loan with us, we strongly recommend that you read our product guide. Don’t worry, it’s not as scary as it looks. We wrote this guide using simple language with our customers in mind. In the guide you can find all the information you need about how our loans work, who our loans are for and how to apply. Our business goal is not to give as many loans as we can. Instead we are dedicated to helping as many people as we can with providing the right loan for them.

Don’t believe us? Check out our online reviews!

But please remember, we designed our responsible short term loans to help customers through a temporary financial shortage. You should not use them as a long term borrowing solution. We are not always the cheapest option in the market and we would like to encourage our customers to compare our interest rates with alternative financial institutions on the market.

What do I do to apply for a loan?

Getting a responsible short-term loan from us requires that you have a full time employment; you have an active bank account and an associated debit card to your main bank account. You will also need to earn a minimum NET monthly income of £1000 and be able to show us that you have enough disposable cash at the end of the month to accommodate the loan repayments. If your NET monthly income is below £1000 or if you are in temporary employment or in receipt of benefits, we will not be able to offer you a loan.


Our highly trained team always try to ensure that our customers pay the minimum possible, not the most that the FCA allows. We design our collection practices to promote fairness and find mutual solutions that will benefit both parties.

Please understand that we do not accept applicants who are already dealing with a debt management company. If an applicant does apply while they are already having their debt managed by a third party, we generally will not accept repayment offers from the said third party.

How much is right for you to borrow?

Our loans range from £200 to £1100. Before applying for a loan right for you, you must decide how much you need. We recommend borrowing the amount you truly need and not what the lender can offer you. For example, if you only need £300, don’t apply for £600. In the long run, this could cause you to fall into debt or cause you to borrow again to keep up with repayments.

What happens after I apply?

Once you have applied, our complex algorithms do the hard work. They evaluate your affordability based on your details and credit score and whether cashfloat approves you for a payday loan. This should only take about 90 seconds, but in particular circumstances, it can take up to 30 minutes.

We receive and assess thousands of loan requests every week, and we commit to giving our customers the loan that is appropriate to their current financial situation. Therefore, we have developed an affordability evaluation system to help us determine whether our loan is right for you. We don’t rely on technology, for example computer systems to approve or decline loans. Our highly trained team of underwriters make every approval decision because our business success is based upon our customers’ ability to afford their loan repayments. We need to make sure that Cashfloat is right for you.


When will I receive my loan?

After receiving our instant decision, Cashfloat gets to work! It can take us as little as 1 hour to deposit the payday loan into your account. However, we do our best to fund you on the same day. Some banks, however, do not support Faster Payments (FPS) and it could take up to 1 day for the money to appear.

Can I get a loan with bad credit?

You’ll be happy to know that Cashfloat offer loans for bad credit. What’s more, you can apply for them online – making the process quicker and much more accessible. Cashfloat looks at more than your credit score; we assess your current affordability. People with a bad credit score are welcome to apply for our short-term loans. We recommend that you evaluate whether taking out a loan is right for you altogether. If you know you may not be able to make the repayments, it may be worth looking for alternative ways to borrow money.

We formulated our loans with the FCA cost cap in mind and we never charge hidden fees. Prior to any loan, we always present to the customers the potential costs involved during the life cycle of their loan, like interest payments or default fees. You can find a summary of terms below.


If you need any additional information then please feel free to contact our friendly support team or take a look at our frequently asked question page.

All short-term loans are defined with the following cost framework:

  • The maximum loan value we allow is twice the principal. When a customer borrows £200 they never have to repay more than £400.
  • We never apply any card authorization fees.
  • CPA cap(Continues Payment Authority) restricts to 2 attempts unless the cusomter gives authorisation – our system will try to collect the scheduled repayment amount in full as agreed in your loan contract. We will not use any partial amounts or different dates for automated collection purposes.
  • Default fee is £15 if customer fails to pay by 5pm on a scheduled repayment day.
  • Most of our loans have no penalty interest. You simply continue to pay the ongoing amount at a daily rate.
  • All our loans are capped with a daily interest rate of 0.8%. The actual interest is calculated according to the amount and the duration of the requested loan. The maximum interest cap covers all loan statuses including rollover, loans in arrears and any operational fees.
  • Loan arrears interest is accrued for a maximum of 60 days:

Representative Loan Example APR 997%

Amount£500
Duration4 month
Total amount payable£863.24
Monthly Repayment£215.81
Total Interest£219.40
Interest pa (variable)270.10%
APR997%
Effective interest72.64%
Default fee (per loan)£15
Card Verification£0

*Example calculated based on loan taken on 20.05.2017 for 4 month (4 monthly payments at the last Friday of the month)


Do Cashfloat offer payday loans near me?

We are an online loans lender, which means that our loans are never too far from reach. As long as you have Internet access, you can apply for payday loans 24/7 on our website. The whole process takes place online and if approved, you could receive the money in just a few hours. However, if you’re looking for ‘loan shops near me’, you may be led to a payday loan shop where you’ll need to fill out paperwork etc. You could end up waiting a long time for the money to reach you. Instead, try Cashfloat’s online payday loans for a faster and more convenient service.

With Cashfloat, if I pay a loan off early, is it cheaper?

Some lenders charge an early repayment fee if you want to pay your loan off before the agreed date. At Cashfloat, there is no early repayment fee at all. Instead, the earlier you pay your loan, the more you save! We only charge you for the days that you have had your loan. If you want to pay early, you can make payments or close your loan online using your Cashfloat account. Repay early, repay less. Simple.

What happens if I default on my payday loan?

Defaulting on your payday loan can cause you to feel pressured, but it really shouldn’t. The first thing you need to do is contact your payday lender ASAP. By contacting them and explaining the problem, they are likely to be more understanding and not pursue legal action. If you don’t contact your lender on the day that the payment is due, a £15 late payment fee may be added to your account. At Cashfloat, our top priority is helping our customers throughout the entire loan process. If you can’t pay back your loan on time, our friendly support agents will help you to arrange an affordable repayment plan.

Is Cashfloat one of the direct loan lenders in the UK with no fees?

Cashfloat.co.uk is a direct payday lender in the UK. We do our best to get you the money you need fast and there are no hidden fees. Some payday lenders charge some of these fees: Application fee, card authorisation fee, early repayment fee, same day funding fee and handling fees. With us, you will pay none of the above. The only charges we will apply to your loan are if you default on payments. Other than that, you pay interest on the money that you borrowed, and that’s it.



Loans Right For You!

As a direct lender authorised by the FCA, we provide you with a responsible and easy borrowing experience. Borrow up to £1100 and receive an instant decision. We do our best to fund you on the same day. Is a bad credit score making you unsure? Cashfloat offers loans to people with bad credit too.


Written by: Kelly R
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