There are many factors to consider when searching for a top payday loan lender. Each lender has features that differentiate it from others; And knowing which one to choose is not always simple.
The top 10 payday loan lenders in the UK have many compelling features. And as online reviews show, they've surpassed other lenders by providing an excellent service for their customers.
You may be familiar with some or all of these lenders. If not, we've carried out this quick review to show you a few of their essential features and terms.
So here's our brief guide to the top 10 payday loan lenders in the UK
PaydayUK is one of the best lenders in the UK. They have favourable terms and one of their best features is that they deposit funds in your account within an hour. They don't require you to fax any documents and they charge £25 for every £100 you borrow.
2. Quick Quid
Quick Quid allows you to borrow up to £1500 and this is a lot more than you'll get from other lenders. But they won't approve you for that amount on your first application. There are no hidden fees involved with your loan and funds are deposited in your account quickly
3. Payday Express
Payday Express is a good alternative to other payday loan lenders. They provide a top-notch service and lend you up to £800. They charge 25% on every £100 borrowed and the funds are transferred to your account the same day.
Wonga offers one of the easiest application processes. And they provide a loan slider on their website that allows you to see how much you'll repay. They also charge based on how long you borrow and this is reflected on the loan slider too.
5. Txt Loan
Txt Loan is different from other lenders and usually lends about £100 over a one week period. It is one of the best because of simplicity and quick application process. And you can apply for a loan wherever you are via SMS - which is as simple as sending a text.
6. Lending Stream
Lending Stream offers a variety of loans and you can repay in installments of 4, 5 or 6. They allow you to pay off your loan early to save on charges. And they don't carry out any credit checks on your application and you won't have to fax anything.
Speed-e-loans is a good lender and provides other services like prepaid credit cards for people with bad credit. They are a relatively new entrant but have a growing reputation. They charge 1% per £100 borrowed per day, which can save you a lot if you repay early.
8. Mr Lender
Mr Lender is another new payday loan lender. They offer complete transparency over charges and their model is similar to Wonga's. They also include a loan slider which offers a complete breakdown of what you repay on your next payday. Their charges are £25 on every £100 borrowed, irrespective of the loan duration.
9. Wage Day Advance
Wage Day Advance is one of the most reputable lenders in the UK. They offer loans of up to £1000 and complete a same day transfer. Like many other lenders, they charge £25 for every £100 you borrow, but they have a £15 same day transfer charge which is higher than what other lenders charge.
You can borrow up to £750 from CashGenie and easily repay it from your bank account on your next payday. Their charge for every £100 borrowed is £30, which is higher than many other lenders in the industry. They have received many positive online reviews for their excellent service.
There are many other good lenders in the UK and we recommend you search around before applying. We also recommend you apply through a reputable broker who will send your application to all the top lenders.
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