Compare Best Payday Loans Direct Lenders UK: Apply Online or Over the Phone

Compare Best Payday Loans Direct Lenders UK: Apply Online or Over the Phone

Compare Best Payday Loans Direct Lenders UK: When in need of emergency cash in hand, the best option is to apply for payday loans online or over the phone. Here we will compare the best payday loan direct lenders in the UK.

Payday loans are short-term cash advance loans convenient for meeting expenses until the upcoming payday. We also check reviews of the best 5 direct lenders in the UK.

Compare Best Payday Loans Direct Lenders UKIt is quite confusing to choose the best payday loan company when applying online. There are several lucrative offers often garbed under some serious terms and conditions. To ease things for you, we have herein provided the best direct payday lenders reviews based on our findings, experience, and user ratings.

If you want to apply then, first of all, compare the best payday loan direct lenders in the UK and decide who is best for you. So, let’s check the top 5 lenders in the UK.

1. Sunny Now (Rated Excellent 9.10/10 by Trustpilot)

The company lends payday loans ranging from £100-£1000 at 16.8%/ month when you borrow the amount for six months. The Representative APR charged by the company is 569% much lower than other competitive options.

Key Features 

  • No additional costs for the loan application, late payment, or admin fee
  • For late payment, the interest is capped as low as 0.8% per day
  • Reduction in loan repayment when paid early
  • Quick loan processing and approval
  • Loan return duration of 5 days (you can return the entire loan amount within this time without paying anything in interest)

2. Wonga (Rated Good 4.2/5 by Trustpilot)

You can borrow short-term loans anywhere from £50-£400 at Wonga. The company charges fixed 292% pa and the representative APR is 1509%.

Key Features 

  • There is a grace period of 3 days for missed payments
  • There are repayment options in 3 or 6 months Flexi loan plans
  • No paperwork required
  • Top up the option to increase the loan amount at any point in time

3. QuickQuid

QuickQuid makes its position in the list of top 5 due to the availability of higher payday loan amounts. You can borrow a minimum of £100 to £1000+ amount. However, we suggest considering other alternatives, if your required loan amount is below £400. The company charges Representative APR at 13001.2% and an interest rate of 292% pa.

Key Features 

  • Allows flexible repayment options depending on your convenience
  • No hidden charges (no application or annual fees)
  • High-security online loan application and processing

4. WageDay Advance (Rated 5/5 by Feefo)

You can borrow any amount from £100 to £1000 at a fixed interest rate of 288% pa. The Representative APR is 1272.3%. On average, if you borrow £100 at Advance Plus loans, you need to pay £154.89 when paying in 4 monthly installments.

Key Features 

  • Flexible repayment period options are available for 4, 5, or 6 months
  • No hidden costs
  • Early repayment helps you to save money

5. Payday Express

This payday loan company makes its way into the top 5 list for having a reasonable Representative APR of 1164%. You can reduce the costs even further if you pay the loan amount early. When you borrow £150 at Payday Express with the repayment option of 3 months period, the total amount payable is £221.70.

Advantages of Direct Payday Loans

While payday loans are generally available at very high-interest rates, there are some benefits of choosing the option for meeting emergency expenses.

  • Compare the costs at various lending companies to find the least expensive option
  • You can apply directly online without paying any brokerage fee
  • Faster loan approval and direct fund transfer to your bank account
  • Choose a repayment period from the available flexible repayment options
  • Lowers the costs when you repay the entire amount early

The Final Verdict, 

The above-mentioned are the top 5 direct payday lenders in the UK based on user reviews and ratings. The choice is ultimately yours depending on the requirements, preferred loan amount, interest rates, loan processing, and other factors. Compare the loan products on various parameters to find the one that perfectly matches your choice. Read more articles on lookup.

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