Same Day Loans.

Apply online for an instant decision.

Fast affordable online loans for bad credit scores.

100% secure online application process

Money can be sent today

Check eligibility with a Soft Search

Thousands of loans found every month

Representative 79% APR

Representative Example: Borrowing: £1200 for 18 months, Total Repayable: £1843.68, Total Interest: £643.68, Interest Rate (Variable): 79%. Rates between 9.3% APR to Maximum 1721% APR

The Money Shop is a registered trading name of New Horizons Finance Limited, which is an Introducer Appointed Representative of Flux Funding Limited, who are a credit broker not a lender. Loan repayment terms are between 3 and 36 months.

Warning: Late repayment can cause you serious money problems. For help, go to

Same day loans

For anyone in a difficult financial situation, it can be difficult to know what to do next. That’s where a same-day loan can come in to bring about relief. At The Money Shop, our partner helps provide eligible customers with access to same-day loans that arrive directly into their bank accounts.

If you’re looking for a complete guide on same-day loans and want to know what to expect, read on. We’ll cover these loans’ ins and outs and how you can apply for one if you think it could be a solution for you.

Ready to search for your loan?

Get Your Quote

How do same day loans work?

Same-day loans work similarly to other types of short-term loans and are a great option if you’re in an emergency. Usually, a standard loan process takes up to a week, whereas same-day loans are processed much quicker. Same-day loans are also known as payday loans, small loans, and emergency loans in the wider financial world. A same-day loan usually will not exceed £5,000 and should be repaid between 3 and 36 months. 

If you get approval for a short-term loan, you could receive the money within the hour.

Your questions, answered

You could consider using a same-day loan if you need a quick financial solution to a problem. For example, perhaps your water pipe in your home has leaked; in this case, a short-term loan could help. Sometimes we can be faced with bills at inconvenient times and have no savings or money to take care of the problem. This is why many people turn to short-term loans and use them for these exact reasons.

First of all, before applying for any loan, it’s a good idea to get an idea of whether or not you’d be eligible. While there is no true way to identify whether you’d be eligible unless you apply, there are some indicators. If you have had no issue with taking out credit in the past and having a healthy credit score, you’ll likely be accepted for a same-day loan.

However, if your credit score is poor and you haven’t taken out a loan in a while, you may want to assess your chances of being accepted. Usually, a lender will consider someone who has poorer credit so long as they are in employment and can demonstrate their ability to pay the loan back. 

If you are currently not employed and have recently been rejected for a loan or credit, you should not apply for a same-day loan. When you apply multiple times in a short timeframe, you risk damaging your credit score further. Lenders will be able to see that you have applied and been rejected for a loan and will grow even more suspicious of lending you money.

To qualify for a short-term loan, you will need to submit information to the lender to assess your eligibility, for example:

  • You must prove that you are over the age of 18
  • You must show that you have a means of paying back the loan
  • You must submit employment information if applicable
  • You must agree to a credit check before the loan is approved

All U.K. based short-term providers can only pay into a U.K. bank account. If you’re approved for a short-term loan, you must acknowledge the terms & conditions set out and agree that repayments are made from the same account you’ve been paid into.

Yes, you will need to agree to a credit check against you to qualify for a same-day loan. If you are not confident that the credit check will go well, you can always consider a suitable alternative to taking out a loan. All of the lenders on our broker partner’s panel use soft search technology, so you can apply without damaging your credit rating.

If you have a poor credit history, you are more likely to be rejected for a short-term loan, which can negatively affect your credit score. If you suspect or know that your credit score is very bad, we advise against applying for a loan.

All of our partner’s lenders use soft search technology, so you can apply without damaging your credit rating.

As mentioned, short-term loans can be a great solution if you’re in a desperate financial situation. If you have a big bill to pay with no means of getting the cash to do so, a short-term loan could be for you.

Short-term loans usually have higher interest rates than standard loans, which is something to be aware of. Before you agree to take out a loan, be sure that you’re clear on the terms and conditions set out, so you know what you’ll be paying back. You should also make sure that you are aware of how much you’ll pay for missing a payment in the form of a ‘late payment fee’ too.

When you take out a same-day loan, you will agree to make the repayments set out in the lender’s terms and conditions. The payments will be taken directly out of your bank on a nominated day of the month. You can choose to have the instalments taken from your bank on payday, for example, or any other day you deem most suitable. If you cannot make repayment for whatever reason, we strongly advise you to contact your lender and inform them of your current circumstances.

Same-day loans are a solution to short-term financial emergencies, as we’ve covered. However, you shouldn’t use them for long-term debt consolidation or pay off other credit types.

Before you take out a same-day loan, be made aware of the interest and APR percentages. Many same-day loan providers will charge higher fees than average to reflect an unsecured loan type.

The Money Shop has helped thousands of customers across the country who have been in difficult financial situations. For those interested in taking out a same-day loan with one of our partner’s lenders, you’ll be happy to know that the process is made simple and quick. You could even have the cash in your bank account on the same day that you apply!

You can find more information about same-day loans on our website, where we have other useful articles to help. If you still have questions or queries about taking out a same-day loan through The Money Shop, contact our customer service team, who can provide answers.

If you’re wondering how you can apply for a same-day loan, here are the steps you will have to complete as part of the application process:

  1. Apply online at The Money Shop for a same-day loan. We will ask you to provide your current residential address, employment status and details, affordability, and personal details, including your name, date of birth, and banking details.
  2. Receive an instant decision on the same day that you apply from our partner’s market-leading panel of lenders.
  3. Be approved for the loan and receive the cash on the same day into your bank account. Your lender will inform you as to whether your loan application has been successful and when you can expect the money to reach you.
  4. Make the repayments as agreed and set out in your loan terms and conditions. You must review the terms to know what actions lenders can take if you miss a payment. You could be liable for a late or missed payment fee which could add more financial stress to your situation.

Sometimes, a same-day loan may not be suitable for you. This can become clear if you have been refused credit in the past and are concerned about the negative impact such a short-term loan could have. If you weigh up your alternative options, there are many other ways to lend.

Credit cards
Some credit cards will accept people who don’t have a healthy credit score. Even if you cannot get approval for other types of loans, credit cards can offer various options. Many credit cards can help you build up your credit score, and while the application process is longer, it can be worth the wait.

Credit cards come with limits and interest rates which you should compare before taking a credit card. If you think that the interest rates are too high or you could have difficulty making repayments, again, we advise against taking out this type of credit.

Bank overdrafts
If you have a good relationship with your bank and have been a loyal customer, you could be eligible for an overdraft. An overdraft is essentially a sum of money you can use when your banking balance falls to £0.

Overdrafts can be very helpful, though you will have to pay interest rates with other credit types. We advise visiting your bank and speaking to a team member who will best guide you on the best overdraft for your circumstances.

Payday loans
Like a same-day loan, a payday loan is a sum of money you borrow and agree to repay on your next payday. You must be in employment to be eligible for this type of loan, and there will be interest rates that you will need to pay.

You shouldn’t use payday loans for long-term financial needs, but they can certainly help if you have a short-term financial emergency.

If you need more information on same day loans, you are welcome to contact a member of our friendly team at The Money Shop, who will be happy to provide answers to your queries!