Cheapest Payday Lenders

Warning: late repayment can cause you serious financial issues. Get help on moneyadviceservice.org.uk.

You would like to know which direct UK lender is the cheapest on the market?
I tried to find the answer for you. Even though it is not that easy to directly compare all of them as some only propose 3 months loans and minimum amounts can also vary, I have calculated the cost of borrowing £200 over 30 days and the daily interest rate.

In the table and the graphs below are the results of my calculations.
Please also consult the other sections of the site since this is only a cost comparison but depending on the term of the loan, this rankings could vary.

Chart Comparing the Cheapest Direct Payday Lenders


Compare Cheap Pay Day Lenders UK

Loan Type Repay per £200
over 30 days
Daily Interest
Rate (%)
Review Apply Now
UPLOAN
uploan-logo
Monthly Payments £910.34
(£500, 6 month)
0.40% Read Review
Representative Example: Borrow £1000 for 12 months. Total repayment: £1937.24 in 6 monthly payments of £161.44.Interest p.a: 146.10% (fixed). Representative 289.59%APR
WIZZCASH
Monthly Payments £248 0.80% Read Review
Representative Example: Total Amount of Credit: £300. Duration of the Agreement: 90 days. Total Amount Repayable: £454.26 to be re-paid in 3 equal instalments of £151.42 on your next 3 pay days. Interest is Fixed at a rate of 292% per year – 0.8% interest per day. Representative 1265% APR.
247MONEYBOX
247moneybox-logo
Payday Lender £248 0.80% Read Review
Representative example: Total amount of credit £80, duration of the agreement 29 days, rate of interest 292% per annum (fixed), total amount payable (in one repayment) £98.56. Representative 1281.8% APR.
PIGGY BANK
Payday Lender £248 0.80% Read Review
Representative Example: Amount of credit £250.00 for 30 days. Total amount payable £319.45. Interest rate 300% (fixed). Interest £62.50. Payout Fee £6.95. Representative APR 1355%
Cheapest Payday Lenders Daily % Apply Now
UPLOAN
uploan-logo
0.40%
WIZZCASH

Read Review
0.80%
247MONEYBOX
247moneybox-logo
Read Review
0.80%
PIGGY BANK

Read Review
0.80%

Warning: the word 'cheap' is used to mean 'the least expensive'. Payday loans are always expensive and should only be a short term solution. If you are in financial trouble, seek help from your local Citizens Advice Bureau or StepChange.

Graph comparing the Cheapest UK lenders by daily interest rate 

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