Best Instalment Loans | Direct Lenders Compared

Compare Instalment Loans

About

Lending Stream launched in 2008 with a payday loan similar to what was available elsewhere across the market. Step forward to 2011 and they would unveil a new instalment product. This showed that they were one of the early trendsetters. Mass switching would eventually follow with many payday firms when price capping was actioned in 2015. Today, providers may offer flexible terms across any number of months, but the most queried niches are 3 and 6 month loans that we’ll be scoring at below. The key benefit for borrowers is the ability to spread a chunky balance out across several months. This creates more manageable repayments to minimise that chance of late payments and even default.

This assumes of course that you are applying for a similar level of cash as you would over a shorter term. The interest also works out cheaper for instalments since a fixed rate is impacting a reducing balance. Search data showed that a higher number of users search for installment loans (the Americanised spelling). The specific most popular choice is a 6 month loan. This is a handy period to create bitesize repayments and at the same time if you decide to settle early then most lenders are happy to let you do this. There is little difference between eligibility for payday/instalments. Applying for modest sums and being prepared to upload documents is advised.

Sample Listing:
Brand (Launch Year) | Alexa UK Ranking
– Available Amounts (Reloan Cap) | Available Terms (Reloan Cap) | Cost Per £300 (3m & 6m)
– Opening Hours
*Notes

Alexa Sorted Instalment Loans Direct Lenders Only List 2018

1) Wonga (2007) | #6298

Wonga Loans

– £50-£600 (£2000) | 1-35d, 3m or 6m | £156.74 (3m) & £277.90 (6m)

– Mon/Sat (7am-8pm), Sun (8am-5pm)

*Non.

2) QuickQuid (2007) | #8830

QuickQuid Loans

– £50-£1000 (£1500) | 1-3m | £205.20/£216 (3m)

– Mon/Fri (8am-9pm), Sat/Sun (10am-6.30pm)

*£205.20 for new customers with promo discount.

3) Lending Stream (2008) | #10,972

Lending Stream Loans

– £50-£800 (£1500) | 6m | £275.52 (6m)

– Mon/Sun (8am-8pm)

*Non.

4) SafetyNet Credit (2014) | #12,428

SafetyNet Credit Loans

– £100-£500 | 1d-12m+ | £96 (3m) & £96 (6m)

– Mon/Fri (8am-7pm), Sat (9am-5pm)

*24/7 pre-approved when reloaning. Draw from £20.

5) Sunny (2004/2013) | #13,100

Sunny Loans

– £100-£2500 | 6m, 7m, 9m or 14m | £198.88/£295.91 (6m)

– Mon/Thurs (8.30am-7pm), Fri (8am-5pm), Sat/Sun (10am-3.30pm)

*£198.88 for new customers with promo discount. Rebranded from 1 Month Loan.

6) WageDayAdvance (2004) | #14,561

WageDayAdvance Loans

– £80-£500 (£1000) | 1-6m | £211.20 (3m) & £253.99 (6m)

– Mon/Fri (8am-8pm), Sat (9am-5pm), Sun (10am-4pm)

*Non.

7) Satsuma Loans (2013) | #19,706

Satsuma Loans

– £100-£1000 (£2000) | 3-12m | £129.26 (13w) & £274.60 (26w)

– Mon/Fri (8am-8pm), Sat (8.30am-5pm)

*Repaying monthly is £142.80 & £268.80.

8) Pounds to Pocket (2010) | #28,211

Pounds to Pocket Loans

– £200-£2000 | 6-12m | £203.85-£208.08 (6m)

– Mon/Fri (8am-9pm), Sat/Sun (10am-6.30pm)

*£203.85 for new customers with promo discount.

9) CashFloat (2014) | #31,577

CashFloat Loans

– £200-£500 (£1100) | 1-4m | £145.71 (3m)

– Mon/Fri (9am-5.30pm)

*Non.

10) PiggyBank (2012) | #34,897

PiggyBank Loans

– £100-£1000 (£1500) | 7-35 days, 2-5m | £155.97 (3m)

– Mon/Thu (8am-6pm), Fri (8am-4.30pm), Sat (9am-1pm)

*Non.

11) MyJar (2009/2013) | #36,752

MyJar Loans

– £100-£3600 | 3m, 6m or 12m | £144.07 (3m) & £234.56 (6m)

– Mon/Fri (8am-8pm), Sat (8am-6pm), Sun (9am-6pm)

*Rebranded from TxtLoan.

12) Ferratum Money (2010) | #37,088

Ferratum Money Loans

– £50-£700 (£1000) | 1-4m | £154.26 (3m)

– Mon/Tue (8am-7pm), Wed (8am-5pm), Thu (8am-7pm), Fri (8am-5pm), Sat (8am-12pm)

*Sunday payouts on reloans.

13) Smart-Pig (2012) | #37,385

Smart-Pig Loans

– £50-£350 | 1-180d | £150 (3m) & £150 (6m)

– Mon/Fri (9am-7pm), Sat/Sun (10am-6pm)

*For students only.

14) Drafty (2016) | #44,426

Drafty Loans

– £50-£3000 (£5000) | 1d-12m+ | £48.60 (3m) & £97.20 (6m)

– Mon/Sun (7am-10pm)

*24/7 pre-approved when reloaning. Draw from £20 (after initial £50).

15) H&T Finance (2015) | #45,725

H&T Finance Loans

– £100-£1000 | 3-8m or 18-36m | £142.05 (3m) & £254.58 (6m)

– Mon/Fri (9am-8pm), Sat (9am-5pm), Sun (10am-2pm)

*Larger borrowing available in-store. Pawnbroker since 1897.

16) Mr Lender (2009) | #50,880

Mr Lender Loans

– £200-£500 (£1000) | 3-6m | £144.80 (3m) & £254.40 (6m)

– Mon/Fri (8am-6.30pm), Sat/Sun (8am-3.30pm)

*Non.

17) Oakam (2007) | #52,092

Oakam Loans

– £200-£1750 (£5000) | 3, 6 or 12m (24 or 36m) | £134.56 (3m) & £272.36 (6m)

– Mon/Fri (8am-7pm), Sat (9am-6pm)

*Non.

18) Trusted Quid (2011) | #64,197

Trusted Quid Loans

– £100-£500 (£1500) | 6m | £247.83 (6m)

– Mon/Fri (8am-11pm), Sat (8am-8pm)

*Non.

19) WizzCash (2012) | #95,343

WizzCash Loans

– £300 (£1000) | 3m | £154.26 (3m)

– Mon/Fri (9am-5.30pm)

*Non.

20) Peachy (2011) | #96,942

Peachy Loans

– £100-£1000 | 1-12m | £155.11 (3m) & £291.10 (6m)

– Mon/Fri (8am-8pm), Sat/Sun (10am-6pm)

*Non.

21) NextCredit (2012) | #97,090

NextCredit Loans

– £100-£1000 | 1-12m | £150.86 (3m) & £587.52 (/£600) (6m)

– Mon/Fri (8am-8pm), Sat (9am-1pm)

*6m requires £410+.

22) Uncle Buck (2004) | #116,988

Uncle Buck Loans

– £200-£500 (£1000) | 4 or 6m | £292.38 (6m)

– Mon/Fri (9am-6pm), Sat (9am-3pm)

*Non.

Alexa Global Rankings (No Local Ranks)

23) Cash Asap (2012) | #1,591,968

Cash Asap Loans

– £100-£300 (£750) | 1-35d, 3m | £151.23 (3m)

– Mon/Fri (8am-9pm), Sat (8am-7pm), Sun (9am-7pm)

*Non.

24) Swift Sterling (2010) | #2,113,870

Swift Sterling Loans

– £200-£1000 (£1500) | 1-5m | £155 (3m)

– Mon/Sat (7.30am-11.30pm), Sun (2pm-10.30pm)

*Non.

25) Fernovo (2017) | #2,160,099

Fernovo Loans

– £100-£1000 | 1-6m | £92.85 (3m) & £172.98 (6m)

– Mon/Fri (9am-6pm)

*Saturday & Sunday payouts on reloans.

26) MoneyBoat (2014) | #2,252,086

MoneyBoat Loans

– £200-£800 (£1500) | 2-6m | £136.30 (3m) & £259.64 (6m)

– Mon/Fri (8.30am-5.30pm)

*Non.

27) QuidMarket (2011) | #2,630,951

QuidMarket Loans

– £300-£600 (£200-£1000) | 3-6m (1-6m) | £154.37 (3m) & £296.45 (6m)

– Mon/Fri (8am-6pm), Sat (9am-4pm)

*Reloan starting amounts and terms differ as shown.

28) Savvy (2013/2014) | #2,759,796

Savvy Loans

– £200-£3000 | 6, 12, 15, 18 or 24m | £300 (6m)

– Mon/Thu (8am-7pm), Fri (8am-5pm), Sat (10am-2pm)

*Rebranded from Valour & Lightning Loans.

29) Quick Loan Shop (2012) | #3,032,064

Quick Loan Shop Loans

– £100-£2000 | 1m, 3-12m | £152.28 (/£600) (3m) & £281.10 (/£600) (6m)

– Mon/Fri (unknown)

*3m/6m requires £400+.

30) Dot Dot Loans (2017) | #3,228,460

Dot Dot Loans

– £100-£600 (£1250) | 3, 6 or 9m (12m) | £129 (3m) & £267 (6m)

– Mon/Fri (8.30am-6pm)

*Non.

31) Payday Loans Net (2017) | #3,544,660

Payday Loans Net Loans

– £200-£700 (£2000) | 1-6m | £145.71 (3m)

– Mon/Fri (8am-5pm)

*No 6m example (requires £1200+).

20) Fast Loan UK (2010) | #3,628,569

Fast Loan UK Loans

– £50-£600 (£2000) | 7-60d, 1-8m | £146.62 (3m) & £224.43 (6m)

– Mon/Fri (9am-5pm)

*Non.

33) The Money Platform (2016) | #3,718,050

The Money Platform Loans

– £250-£1000 | 1-3m | £112 (/£250) (3m)

– Mon/Fri (unknown)

*£300 unavailable. must be 20+. Peer-2-peer.

34) Cash4UNow (2011) | #3,719,245

Cash4UNow Loans

– £150-£500 (£1000) | 2-6m | £76.50 (/£150) (3m) & £255 (6m)

– Mon/Fri (9am-5.30pm)

*£300 unavailable for 3m.

35) Fair Finance (2005) | #3,811,202

Fair Finance Loans

– £100-£1000 (£3000) | 6-18m | £88 (6m)

– Mon/Fri (9am-5.30pm)

*Repaying weekly is £96. Must complete in person.

36) Track Loans (2017) | #3,876,098

Track Loans

– £100-£500 | 3-6m | £59.46 (3m) & £108.66 (6m)

– Mon/Fri (9.30am-5pm)

*Non.

37) Response Funding (2009/2016) | #4,072,364

Response Funding Loans

– £150-£200 (£500) | 3m | £167.04 (82d)

– Mon/Fri (9am-6pm)

*£300 only available on reloans. Must be 21+.

38) Quick Loans Express (2013) | #4,253,925

Quick Loans Express Loans

– £200-£500 (£1100) | 1-4m | £145.71 (3m)

– Mon/Fri (8am-5pm)

*Non.

39) Quidie Online Lending (2014) | #4,406,522

Quidie Online Lending Loans

– £100-£1000 | 2-6m | £92.85 (3m) & £172.98 (6m)

– Mon/Fri (9am-6pm)

*Must be 21+.

40) Tappily (2017) | #4,573,491

Tappily Loans

– £100-£2500 | 1d-12m+ | £76.50 (3m) & £76.50 (6m)

– Mon/Fri (8am-7pm), Sat (9am-5pm)

*24/7 pre-approved when reloaning. Draw from £20.

41) WeLendUs (2015) | #4,809,146

WeLendUs Loans

– £50-£500 | 21-30d, 2m or 3m | £105.62 (3m)

– Mon/Fri (9am-5pm)

*Peer-2-peer.

42) SkyQuid (2014) | #5,454,268

SkyQuid Loans

– £50-£500 (£1000) | 2-6m | £149.15 (3m)

– Mon/Fri (9am-6pm)

*No 6m example available.

43) Capfin (2017) | #6,490,996

Capfin Loans

– £200-£500 | 6m | £162.30 (6m)

– Mon/Fri (9am-5.30pm)

*Non.

44) JL Money (2004) | #6,509,415

JL Money Loans

– £200-£500 | 3 or 6m | £121.59 (3m) & £243.14 (6m)

– Mon/Fri (9.30am-5.30pm)

*Guarantor product also available.

45) Auden (2014/2017) | #7,013,925

Auden Loans

– £200-£400 (£1000) | 7-30d, 2-12m | £101.57 (13w) & £165.42 (26w)

– Mon/Fri (9.30am-5pm)

*Repaying monthly is £122.09 & £173.70. Rebranded from Uberima.

46) CreditStar (2011) | #7,383,826

CreditStar Loans

– £100-£300 (£700) | 1-6m | £153.66 (3m) & £271.92 (6m)

– Mon/Sun (9am-8pm)

*Non.

47) THL Direct (2008) | #7,888,712

THL Direct Loans

– £150-£200 (£500) | 3m | £169.62 (83d)

– Mon/Fri (9am-6pm)

*£300 only available on reloans. Must be 21+.

48) MyKredit (2015) | #9,096,643

MyKredit Loans

– £100-£400 (£1000) | 2-4m | £146.42 (3m)

– Mon/Fri (8am-7pm), Sat (9am-5pm)

*Non.

No Alexa Global Ranking (Alphabetically Sorted)

49-52) Care Finance and Loans (2010)

Care Finance and Loans

– £100-£150 | 3m | £57 (/£100) (85d)

– Mon/Fri (unknown)

*£300 unavailable.

49-52) Kabayan Finance (2010)

Kabayan Finance Loans

– £100-£1000 | 1, 3, 6 or 12m | £109.94 (3m) & £154.94 (6m)

– Mon/Fri (9am-5pm), Sat (10am-2pm)

*Non.

49-52) Pera Loans (2014)

Pera Loans

– £200-£500 (£1100) | 1-3m | £129.63 (3m)

– Mon/Fri (8am-5pm)

*Must be 23+.

49-52) Tick Tock Loans (2014)

Tick Tock Loans

– £200-£500 (£1000) | 3-6m | £156 (3m) & £300 (6m)

– Mon/Fri (unknown)

*Non.

Notes:
– Alexa.com rankings were taken in June 2018.
– Complete borrowing sum ranges are displayed. Some lenders enable you to pick any amount for any term choice, whilst others have set restrictions.
– Not included today: Credio and MPP Money haven’t took applications for some time and appear to be closed. Recent closures have included Pogo Loans and the Tiger Loans Company. Pounds Till Payday has become a broker whilst In-Sync Credit Services has pulled their subprime product.

Alexa Site Rankings

There are 52 active instalment loan brands and so the overall competition is much more fierce than payday, despite there being less consumer demand. To highlight the competitiveness, the top 7 ranked firms all achieved Alexa UK ranks within 20k whilst 21 made 100k. Overall market share is sporadic with Wonga facing increasing competition from the likes of Lending Stream, Satsuma and Sunny who all spend big on the advertising front.

Cheapest 3 Month Loans for Bad Credit 2018 (+Fair)…

1) Drafty: £48.60
2) TrackLoans: £59.46 (BC)
3) QuickLoanShop: £76.14 (/£600 split) (BC)
4) Tappily: £76.50
5+) Fernovo/Quidie: £92.85 (BC)

Cheapest 6 Month Loans for Bad Credit 2018 (+Fair)…

1) Tappily: £76.50
2) FairFinance: £88 (BC)
3) SafetyNetCredit: £96 (BC)
4) Drafty: £97.20
5) TrackLoans: £108.66 (BC)

£300 borrowing has been compared above. Quick Loan Shop’s example is however hypothetical since you’d need to borrow at least £400 for any instalment choices. Similar with monthly borrowing, both Drafty and Tappily stand out for value, but outside of these there are competitive options to those with bad credit. The micro niche of interest is 6 month loans where Fair Finance wouldn’t be possible to most due to loan completion having to be completed in-store. SafetyNet’s pricing is notable here since their very own cap has come into play, whilst Track is another good subprime pick. There is overall a sizeable gulf between the leading deals shown and those offered by the more recognisable brands. Wonga for instance asks for £156.74 (3) & £277.90 (6) that is very expensive in comparison.

Largest Facebook Communities

1) Wonga: 365,190+
2) Ferratum: 161,020+
3) PoundstoPocket: 62,770+.
4) Smart-Pig: 31,230+
5) Peachy: 29,100+

No Late Fee Instalment Loans

Auden, Capfin, DotDotLoans, Drafty, FairFinance, Fernovo, H&TFinance, MrLender, Oakam, QuidieOnlineLending, QuidMarket, SafetyNetCredit, SatsumaLoans, Sunny, Tappily, TrackLoans and WeLendUs.

Payouts Across Weekends

Those open 7/7 include Cash Asap, CreditStar, Drafty, H&T Finance, Lending Stream, Mr Lender, MyJar, Peachy, Pounds to Pocket, QuickQuid, Smart-Pig, Swift Sterling, Sunny, WageDayAdvance and Wonga. Outside of these, Fernovo claims to underwrite outside office times (7/7). Drafty, SafetyNet and Tappily of course offer credit lines and so once approved they can be used 24/7.

The Best Instalment Loan Alternatives?

Spreading the cost over several months helps to keep those repayments low. This can be improved upon further with a personal loan at the 12 month mark. That will be the next niche that we’ll compare. Higher acceptance rates can be found with doorstep lenders that offer similar terms. The delays and agent meet-ups won’t suit everyone though. Getting hold of a credit card can also take its time, but this would be the best recommended way to borrow over the long term. With good money management you can improve your score and be welcomed with frequent limit advances with the likes of Aqua and Vanquis (more so with Aqua).

The Best Instalment Loan Reviews 2018

Feefo.com (Ranked by 5 Stars)…
1) TrackLoans: 91% (5*) & 7% (4*) | (110+)
2) THLDirect: 89% (5*) & 10% (4*) | (210+)

Reviews.co.uk…
1) FastLoanUK: 100% (40+)
2) MrLender: 98% (21,570+)

Trustpilot.com…
1) Oakam: 97% (7550+)
2) MrLender: 97% (2770+)

Last Update: June 11th, 2018.