What are Payday Loans with No Credit Check?

Payday loans with no credit check are short-term loans that aim at helping you funding your small needs, for instance, payment of outstanding utility bills. The length of these loans does not extend beyond a mon th, which is why the maximum disbursal limit is not more than £2,500. Conventional lenders have certain policy with the repayment period and the disbursal limit and hence their offerings do not include payday loans. Of course, you will not take out a personal loan if you need a small amount of money. Thanks to direct lenders like A One Finance who do not stop from borrowing small amount of money.

Payday loan is a modern concept of lending. You can borrow as little amount as possible that you are bound to pay back as you receive your pay cheque. A credit check makes the lending complex: it is a time consuming process and it increases the chances of rejection in case of impaired credit standing, which is why we offer payday loans with no credit check.

With no credit check, footprints do not show up on your credit report, which means you will not lose your credit score. We will decide your creditworthiness on basis of your income statement.

Here is how no credit check loans work:

  • Submit your online application form
  • Get instant decision
  • Receive funds

How Much Will Payday Loans with No Credit Check Cost Me?

How much a particular type of loan will set you back depends on your credit needs. Since you are borrowing without credit check, the interest rates are likely to be higher. The amount you borrow is also an important factor. Though these loans are easily accessible due to features like no spending restrictions and fast turnaround, you should not borrow more than your needs. The cost of the loan mounts up if you fail to pay off the debt on the due date because you will end up with late payment fees and interest penalties.

Points to bear in mind while applying for these loans:

  • You should have a repayment plan.
  • Compare interest rates before making a decision.
  • You do not borrow for impulsive purchases.

What is the Repayment Length of Payday Loans with No Credit Check?

Mainstream lenders do not allow for more than two-week repayment plan for these loans. As 14 days pass by, you are supposed to pay off the whole of the debt. Since the repayment term is very short, it is likely that you fail to arrange enough cash to settle your debt. We do not want to throw you in a debt cycle therefore try all our best to offer you convenience.

Disbursal limit (£) Repayment period Payment Method
0-1000 Two weeks Lump sum
1001-2000 Two Weeks Two instalments
2001-2500 One Month Four Instalments

What if I Need Over £2,500?

Financial emergencies can crop up anytime and you cannot decide beforehand how much money you will need. As long as your requirement is not more than £2,500, you are perfectly eligible for taking out payday loans with no credit check. If you need money a bit higher, for instance £2,600 or £2,700, we will not turn down your application. We will examine your income sources and if we find that you can afford to pay back the money, we will transfer funds to your account. However, the borrowing amount cannot be higher than £3,000. Otherwise, you need to apply for bad credit loans. Note that the repayment length will not exceed one month even if you borrow between £2,500 and £3,000.

Am I Eligible if I am a First-time Borrower?

Payday loans with no credit check are generally popular among those borrowers who do not want a lender to run a credit check due to one reason and the other, but lenders have introduced these loans for first-time borrowers as they have no credit history. If you fall short of cash to meet your expenses, you can take out these loans. You must have a steady source of income to borrow money. Note that you are not eligible for payday loans even though your credit rating is stellar if you are living on benefits. We recommend you to apply for unemployed loans.

Do Payday Loans with No Credit Check Build Your Credit Rating?

First-time borrowers and poor credit borrowers always try to aim at building credit rating. A good credit score gives you a chance to borrow money at a low interest rate down the road. Your lender will inform credit reference agencies of your regular payments. It is good if you build your creditworthiness, but payday loans with no credit check cannot help you with it. These are very small loans and they do not prove your credibility despite timely payments. The repayment term should be a bit longer, at least 12 months, hence apply for instalment loans to boost your credit score.

Can I Find a Low Interest Rate Deal?

Since the decision is made without perusing your credit report, mainstream lenders charge high interest rates, but we try our best to provide payday loans with no credit check at affordable interest rates. Beware of lenders who follow bait-and-switch scheme. Research can help you avoid falling into a trap of expensive deals. Loans are usually expensive as you have pay interest on top of what you owe. Make sure that you have a repayment plan.

Do you need money urgently? Apply for payday loans with no credit check today.

Why Choose Payday Loans with No Credit Check

Apply Online and get cash as soon as into your pocket.

  • Borrow up to 5000 pound for 6 months
  • Available for all UK & non-UK Citizens
  • No checking of your past credit history for approval
Representative example
  • Amount of Borrowing

    £1,500 over 6 Months
  • A Variable Representative of

    96.5% APR
  • Monthly Repayment Amount

    £324.88 for 6 Months

Borrowers must be UK residents and aged 18 or over. Credit limits and interest rates vary based on your individual circumstances.

Keep in mind: Late repayment can cause you serious money problems.
For help, go to moneyadviceservice.org.uk

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