Instalment Loans Online | Instalment Loan Lenders (Bad Credit)

Instalment Loans Online
About…

The instalment loans sector (installment in U.S) has emerged as the most fiercely contested in recent years, with 50+ local brands currently challenging for market share. Payday lending had previously been dominant. This came to an end after the FCA’s 2015 interest cap went through. This pushed many payday firms across to instalments where they could attain increased profits on longer contracts (usually lasting up to a year). There was however many casualties both online and on the high street. Retail estates like Cheque Centre & Speedy Cash are today a thing of the past whilst the historic market leader (The Money Shop) lost most of their stores and no longer offer loans.

Lending Stream was the first major player to focus on longer terms at a time when payday was all the rage. They launched in 2008 and later switched to instalments in 2011. As it stands today they are now the top visited lender (in light of Wonga’s recent closure). They’ll now see Satsuma and Sunny as their key rivals. Moving along to today’s comparison, we have analysed 3 and 6 month loans online. Given the choice, it does make greater sense to opt for 6 months to benefit from more manageable bitesize repayments and lower daily calculated rates. Similar to monthly lending, bad credit is considered the same way, assuming that you aren’t requesting sizeable sums like £1000+.

Brand New Instalment Lenders 2019

Similar to payday, there have been no fresh entries in either 2018 or 2019. In 2017 there was a fair number of newcomers though including Capfin, Dot Dot, Fernovo, PDNet & Tappily. In-Sync launched and then closed and unfortunately another fresh entrant (Track Loans) arrived yet soon closed. This is a great shame since Track had offered the cheapest subprime deals that were only edged out by Drafty who require good scores. Track’s £300 total costs were just £59.46 (3m) & £108.66 (6m) that shows how competitive they were. Their site now just redirects to the owner’s original operation (Street UK) who provide a 12 month West Midlands only service.

Compare 3 Month Loans: Direct Lenders 2019 (41 Brands)

3 Month Cost /£300

£205.20 to £216 (promo)

£129.26

£216

£213.60

£150

£144.80

£155.97

£112.76 to £117.76 (promo)

£144.06

£136.30

£143.70

£48.60

£104.49

£143.70

£154.26

£134.56

£151.23

£154.26

£145.60

£102.09

£92.85

£91.80

£155

£143.70

£155.96

£127.05

£154.37

£92.85

£147.51

£111.36 /£200 (82d)

£112 /£250

£146.25

£152.28 /£600

£57 /£100 (85d)

£109.94

£149.15

£113.08 /£200 (83d)

£121.59

£129.63

£156

Sums (+Return)

£50 to £1000 (£1500)

£100 to £1000 (£2000)

£100 to £500 (£1000)

£80 to £500 (£1000)

£50 to £350

£200 to £500 (£1000)

£100 to £1000 (£1500)

£100 to £1000

£100 to £7200

£200 to £800 (£1500)

£200 to £500 (£1100)

£50 to £3000 (£5000)

£50 to £500

£200 to £500 (£1100)

£50 to £700 (£1000)

£200 to £1750 (£5000)

£100 to £300 (£750)

£300 (£1000)

£100 to £300 (£700)

£200 to £400 (£1000)

£100 to £1000

£100 to £2500

£200 to £1000 (£1500)

£200 to £700 (£2000)

£100 to £1000

£100 to £600 (£1250)

£200 to £1000

£100 to £1000

£100 to £400 (£1000)

£150 to £200 (£500)

£250 to £1000

£50 to £600 (£2000)

£100 to £2000

£100 to £150

£100 to £1000

£50 to £500 (£1000)

£150 to £200 (£500)

£300 to £1000 (£2000)

£200 to £500

£200 to £500 (£1100)

£200 to £500 (£1000)

Terms (Notes/+Return)

1m to 3m

3m to 12m

LOC (when paid | reloan)

1m to 6m

1d to 6m

3m to 6m

7d to 5m

1m to 12m

3m to 24m

2m to 6m

1m to 4m

LOC (no fixed date)

21d to 3m

1m to 4m

1m to 4m

3m to 12m (3m to 36m)

1d to 3m

3m

1m to 6m

7d to 12m

2m to 6m

LOC (when paid | reloan)

1m to 5m

1m to 6m

1m to 12m

3m to 9m (3m to 12m)

1m to 6m

1m to 6m

2m to 4m

3m

1m to 3m

7d to 8m

1m to 12m

3m

1m to 12m

2m to 6m

3m

3m to 12m

3m & 6m

1m to 3m

3m to 6m

Traffic Rank (Alexa)

#8957

#16,733

#30,907

#33,595

#34,382

#44,140

#45,300

#46,636

#54,159

#66,173

#74,604

#75,305

#77,984

#80,328

1.4m

1.4m

1.9m

2.6m

3m

3.3m

3.3m

3.4m

3.6m

3.8m

4m

4.2m

4.4m

4.8m

5.2m

6m

6m

7m

8.9m

11.4m

11.4m

12m

13.8m

Unranked

Unranked

Unranked

Unranked

Compare 6 Month Loans: Direct Lenders 2019 (36 Brands)

6 Month Cost /£300

£275.52

£174.80 to £270.09 (promo)

£277.50

£268.80

£292.38

£432

£287.98

£150

£203.85 to £208.08 (promo)

£254.40

£220.37 to £225.37 (promo)

£234.54

£259.64

£297.34

£97.20

£272.36

£239.64

£165.83

£172.98

£183.60

£115

£599.76 /£600

£267

£296.45

£300

£172.98

£223.86

£281.10 /£600

£154.94

£162.30

£147

£243.14

£300

£247.83

Sums (+Return)

£50 to £800 (£1500)

£100 to £2500

£200 to £1000

£100 to £1000 (£2000)

£200 to £500 (£1000)

£100 to £500 (£1000)

£80 to £500 (£1000)

£50 to £350

£200 to £2000

£200 to £500 (£1000)

£100 to £1000

£100 to £7200

£200 to £800 (£1500)

£150 to £500 (£1000)

£50 to £3000 (£5000)

£200 to £1750 (£5000)

£100 to £300 (£700)

£200 to £400 (£1000)

£100 to £1000

£100 to £2500

£100 to £1000 (£3000)

£200 to £700 (£2000)

£100 to £1000

£100 to £600 (£1250)

£200 to £1000

£200 to £3000

£100 to £1000

£50 to £600 (£2000)

£100 to £2000

£100 to £1000

£50 to £500 (£1000)

£200 to £500

£300 to £1000 (£2000)

£200 to £500

£200 to £500 (£1000)

£100 to £500 (£1500)

Terms (Notes/+Return)

6m

6m to 14m

6m to 12m

3m to 12m

4m & 6m

LOC (when paid | reloan)

1m to 6m

1d to 6m

6m to 12m

3m to 6m

1m to 12m

3m to 24m

2m to 6m

4m & 6m

LOC (no fixed date)

3m to 12m (3m to 36m)

1m to 6m

7d to 12m

2m to 6m

LOC (when paid | reloan)

6m to 18m

1m to 6m

1m to 12m

3m to 9m (3m to 12m)

1m to 6m

6m to 24m

1m to 6m

7d to 8m

1m to 12m

1m to 12m

2m to 6m

6m

3m to 12m

3m & 6m

3m to 6m

6m

Traffic Rank (Alexa)

#8364

#11,315

#14,914

#16,733

#17,381

#30,907

#33,595

#34,382

#34,558

#44,140

#46,636

#54,159

#66,173

#71,249

#75,305

1.4m

3m

3.3m

3.3m

3.4m

3.7m

3.8m

4m

4.2m

4.4m

4.7m

4.8m

7m

8.9m

11.4m

12m

18m

Unranked

Unranked

Unranked

Unranked

*Notes:
~ Alexa.com: Rankings are sorted by Alexa UK ranks. Sites with much less traffic can only manage a global rank that is used next. The remaining sites are tied (these had no UK or global rank).
~ Borrowing sums & terms: These often see caps and so whilst £2000 may be pitched, you’d likely have to select the longest repayment option to receive that £2k. If you chose a short term option like 2 months then they may cap borrowing at say £300.
~ Characters used: 🔞 = Anico Finance (21+ applicants), Pera (23+ applicants) & The Money Platform (20+ applicants). 🅿️ = Drafty, Tappily & The Money Platform (prime only). 🎓 = Smart-Pig (students only). ❌ = No examples available.
~ LOC: This refers to line of credit, meaning that funding is available whenever it is requested. For SafetyNet & Tappily (same owner), repayments occur when you are paid from work, but you can reloan on that same day. Unfortunately, the daily interest caps that each company offers wouldn’t become active since you are reloaning.
~ Pricing: A sample £300 loan has been compared over both 3 and 6 months in split comparison charts. When £300 wasn’t selectable, we added other examples such as doubling to £600.
~ Promo discounts: These are shown for Peachy, Pounds to Pocket, QuickQuid & Sunny. See profiles for active codes.
~ Recent closures: Credio, H&T Finance (online), In-Sync Credit Services, MPP Money, Pixie Loans, Pogo Loans, Tiger Loans Company, Track Loans, Wonga & Zippa Loans.
~ Repayment options: These are sometimes offered both monthly or weekly (this impacts the overall cost). In the comparison we always added the cheapest option from each lender.
~ Specific lender notes: JL Money’s guarantor loan specs were ignored. Smart-Pig as noted above is student-only.

Feedback: Best Reviews
Feefo
Past 12 Month Data

1) WageDayAdvance
96% Rated | 1140+ Reviews (12m)
WageDayAdvance

2) Savvy
96% Rated | 770+ Reviews (12m)
Savvy

3) Fair Finance
96% Rated | 460+ Reviews (12m)
Fair Finance

Reviews
All-Time Data
1) Fast Loan UK
100% Rated | 60+ Reviews
Fast Loan UK

2) Mr Lender
98% Rated | 22,440+ Reviews
Mr Lender

3) Lending Stream
98% Rated | 19,690+ Reviews
Lending Stream

Trustpilot
All-Time Data
1) Oakam
97% Rated | 15,760+ Reviews
Oakam

2) Mr Lender
96% Rated | 4870+ Reviews
Mr Lender

3) MoneyBoat
95% Rated | 2050+ Reviews
MoneyBoat

Pricing: Cheapest 3 Month Loans with Bad Credit
Top 3m Prime: Drafty: £48.60 /£300
1) Quick Loan Shop
= £152.28 /£600 [£76.14]

Quick Loan Shop

2/3) Fernovo
= £92.85 /£300

Fernovo

2/3) Quidie Online Lending
= £92.85 /£300

Quidie Online Lending

Pricing: Cheapest 6 Month Loans with Bad Credit
Top 6m Prime: Drafty: £97.20 /£300
1) Fair Finance
= £115 /£300 (£88 on reloans)

Fair Finance

2) Quick Loan Shop
= £281.10 /£600 [£140.55]

Quick Loan Shop

3) Anico Finance
= £147 /£300

Anico Finance

Weekend Instalment Loans: Opening Hours

~ Cash Asap: Mon/Fri (8am-9pm), Sat (8am-7pm), Sun (9am-7pm)
~ CreditStar: Mon/Sun (9am-8pm)
~ Drafty: Mon/Fri (7am-10pm), Sat/Sun (7am-10pm)
~ Lending Stream: Mon/Sun (8am-8pm)
~ Mr Lender: Mon/Fri (8am-6.30pm), Sat/Sun (8am-3.30pm)
~ MyJar: Mon/Fri (8am-8pm), Sat (8am-6pm), Sun (9am-6pm)
~ Oakam: Mon/Sat (9.30am-6pm), Sun (10.30am-4pm)
~ Peachy: Mon/Fri (8am-8pm), Sat/Sun (10am-6pm)
~ Pounds to Pocket: Mon/Fri (8am-9pm), Sat/Sun (10am-6.30pm)
~ QuickQuid: Mon/Fri (8am-9pm), Sat/Sun (10am-6.30pm)
~ WageDayAdvance: Mon/Fri (8am-8pm), Sat (9am-5pm), Sun (10am-4pm)
~ Smart-Pig: Mon/Fri (9am-7pm), Sat/Sun (10am-6pm)
~ Sunny: Mon/Thu (8.30am-7pm), Fri (8am-5pm), Sat/Sun (10am-3.30pm)
~ Swift Sterling: Mon/Sat (7.30am-11.30pm), Sun (2pm-10.30pm)

Note:
The support teams of Ferratum, SafetyNet and Tappily aren’t available 7/7, but existing customers are still funded Monday to Sunday. This is subject to the account being in good standing and there being no payment maintenance issues.

Last Update: February 19th, 2019