Same Day Loans

Quick loans paid out the same day?** You got it! Apply Now

Apply Now!

100% Secure Online Application

Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed).Representative 669.35% APR (variable).

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

Cobra Payday Loans Hero

Get Quick Cash

Quick Decision Loans – Same Day Funding

There are many reasons why you may want a same day loan. Whether you require an emergency cash loan for car repairs, are replacing an appliance or looking for a loan to tide you over until payday, these loans may be the best option for you. Providing quick, convenient, and practical access to great lenders is what we do at Cobra Payday Loans.

What is a same day loan?

Same day loans are a kind of fast, accessible loan you can utilise if you require access to money as quickly as possible. These types of loans are often advertised as payday loans or emergency loans UK because they are commonly used as a way to make your cash stretch a bit further until your next payday. However, quick cash loans aren’t designed in the same way as long-term loans or mortgages. Instead, they’re a type of emergency short term lending because you pay them back quickly, over a couple of months in some cases and within a year in others.

Typically, these loans meet three criteria: they are short-term online loans, meaning your repayment will likely be anything from one to twelve months. They are also higher-cost than more extended forms of credit, meaning they aren’t a cheap instalment loans option if you want to borrow money for an extended period. Fast payday loans online are also available in much smaller amounts than a mainstream loan, with amounts up to £1,000 available for lending being the norm.

Are there any risks to using this type of credit?

As with any type of loan, there is a risk attached to this kind of borrowing. This is especially true if you cannot make the payments you agreed to on your payday loan or find yourself falling behind on paying your loan on time. If you find you’re in serious trouble with money, speaking to services such as Money Helper should be the first thing you do.

Since new regulations, lenders must be fully transparent with the cost of their loans. As such, it’s essential to read the repayment information carefully to decide if it’s a suitable option for you. In addition, any form of financial lending should be thought about before you apply to ensure you have the means to pay that credit back.


What Our Customers Say About Us

How do same day loans work?

Just as any other type of loan, emergency loans UK don’t do anything new and innovative – they function precisely the same as other borrowings, and the process is pretty much the same wherever you go or whatever you do. So whether you fill out an online application for payday loans or you go to a high street service, FCA regulated lenders will all follow the same process.

The first step to any loan is filling out and sending off an application for suitability. This will include necessary information, the amount you’d like to borrow and approval for a credit check. Online applications are the ideal choice, especially through our services as Cobra Loans, as they only take minutes to complete – and you will hear back far faster on approvals.

It’s essential to be as accurate as possible with your application, and have your ID and bank account information to hand will help the process go far more smoothly. You should also have the details of your current job, including your annual salary, as this may be included in the decision-making process. Be prepared, and your application for a quick loan will be far more manageable.

Usually, repayments for short term loans are made through direct debit – the same as long-term loans. This means you provide your details on the application, and a direct debit is then set up to withdraw the agreed amount of money each month. However, if you’re unable to set up a direct debit with your bank, speaking to your lender should be the first thing you do.

What is a same day loan used for?

There are many reasons why you might want to take out a same day loan. Some people use payday loans for car repair; others use same-day lending to replace appliances. It could be a way to access money quickly to cover bills until payday or a way to pay an unexpected expense. These loans are a quick way to get money fast, and unlike a mortgage or a car loan, you won’t be asked what the money is for – your credit check will see if you can afford the amount you’d like to borrow.

There’s no wrong or right way to use a payday loan. But generally, you want to take out a loan fast for unexpected or irregular incidents – such as a washing machine breaking down or suddenly needing to pay more on a bill for a single time. These types of loans aren’t designed to be taken out to cover your spending every month, and if you find yourself in this cycle, speaking to a money advice service should be a high priority.

Ready to apply?

Borrow from £100 to £5000

Will I be approved for a loan?

To be approved for any form of credit in the UK, you must both pass a credit check and fulfil all the lending criteria of your choice of lender. In most cases, for those looking for fast payday loans UK, that means providing your age, where you live and your current employment. These factors are usually checked before you go on to the credit check process to reduce the chance of a bad credit search against your name if you fail those initial checks.

Lending criteria can vary, but typically it’s preferable that you’re in employment full or at least part-time and that you earn more than £500 each month. You will also need a bank account based in the UK, as this is where your loan will be deposited. Once these checks are complete, you then go on to credit checking. While often people go looking for payday loans, no credit check instant approval services, almost every application will require a credit check, even for services that advertise themselves as same day loans for bad credit.


Frequently Asked Questions

  • Will there be a credit check for a same day loan?

    While one of the most common searches for loans is ‘no credit check loans’, there’s no such thing as a reputable company offering lending without credit checks in place in the UK. Any firm authorised under the FCA is obligated to check your credit history as part of the lending process. However, that doesn’t mean it’s impossible to get a loan with bad credit. Instead, it may mean you have to pay back a higher amount to mitigate the risk to the lender, or it may mean you can borrow less.

    If you’re concerned that you won’t pass a credit check, choosing an alternative to same day loans to borrow money may be a better fit for you. For example, you should use an authorised lender if you decide to take out a payday loan, or you may want to borrow money from family or friends if they are willing to offer you this alternative.

  • If you’re looking to borrow an amount ranging from £100-£5,000, you may find that fast payday loans with same day deposit are the best fit for you. Many of the lenders we work with at Cobra Payday Loans offer loans within that range, with some offering more, also depending on your specific circumstances. Depending on your criteria and information, you may be offered less than you originally applied for.

  • Unfortunately, there’s no such thing as a guaranteed same day loan. FCA regulations require a full credit and criteria check before loan approval, so no company can say you will 100% be accepted for their service before this process is completed. If you’re offered cash without undergoing credit checks, be wary. This is a common tactic for loan sharks, an illegal form of lending that can result in blackmail, high repayment costs and more.

  • You’re welcome to apply for a loan if you’re currently unemployed, some of the lenders we work with will consider a wide variety of circumstances. Lenders typically use your income as a deciding factor in offering you money, so as long as you have a consistent form of income that is provable you should stand a good chance.

I have a bad credit history – can I not get a same day loan?

Same day loans for bad credit history are advertised online – but what does that mean? It depends on what you consider to be ‘bad credit’. For example, if you haven’t borrowed money before but work full time, your credit score may be low. However, this doesn’t necessarily mean you’ll get turned down for a fast bad credit payday loan, but it could reduce the options available to you as you’re ‘untested’ in terms of lending.

In many cases, people have bad credit scores because of failure to cover existing financial commitments. This could be defaulting on a loan, missing payments on a credit card, or even a CCJ or bankruptcy. Your credit score in this care indicates you aren’t a suitable candidate for a loan – because based on your history, you may not be. If your credit score is particularly bad, no legitimate financial service will offer you guaranteed loan approval no credit check because of the regulations required in the UK.

During a credit check, the lender will decide whether you’re a good candidate for the loan you’re applying for. Of course, bad credit history will work against you for this, so it’s a good idea to check your credit score yourself online before making an application. This can prevent the inclusion of negative marks against your credit score from a failed credit check.

What do I do if I’m turned down for a loan?

If you don’t meet the requirements, credit score and criteria required for a specific lender, you’re likely to be turned down for the loan you’ve applied for. While this can be distressing for many looking for a same day emergency loan, it’s important to look at why you were turned down. Improving your credit score is the best way to ensure you pass the criteria the next time you apply for a loan.

Alternatively, using a credit broker like Cobra Loans is ideal for finding a lender that works for you. We send your application off to multiple FCA-approved lenders to find the right one for you. If you’re concerned about your credit history or you’ve failed applications in the past, going through us is the ideal way to find the best options available to you.

Is a same day short term loan right for me?

Only you know what financial options are best for you, but it all comes down to your specific set of circumstances. In many cases, a short-term loan can be exactly what’s needed to resolve an unforeseen issue, such as a car breakdown or emergency funds to pay an unexpected fine or bill. However, it’s vital that you understand the terms of a quick payday loan UK, as you need to pay the amount back in full plus interest.

Before you apply for an emergency payday loan, take the time to figure out if you’ll be able to pay your loan off without hardship over the next few months to a year. It’s also worth thinking about if a short-term fast loan is the best fit for your specific needs or whether an alternative form of borrowing would suit you better.

Can I apply for a loan now and receive it as soon as possible?

As the name suggests, same day payment loans are usually paid into your account on the day you apply – hence the ‘same day’. So when you apply through us as Cobra Payday Loans, we immediately send your application on to our choice of lender for approval. Once we’ve received the go-ahead, your application is complete, and the money is deposited into your bank – often immediately.

However, your specific bank and the length of time taken to decide to approve your application may lengthen the time between applying and the funds arriving in your account. For small loans under £1000, you’ll often have the loan in your bank the same day. Sometimes, fast emergency loan lenders can even pay the money within 15 minutes of approval – ideal if you need access to cash fast.

Can I use a guarantor for a same day loan?

While other long-term loans do offer the option of a guarantor, typically, lenders for FCA regulated payday loans don’t offer a guarantor as an option. However, if you can find a credit option that does offer this, they may provide a loan based on your guarantor.

Apply for a loan today

Borrow from £100 to £5000

Does it cost more for a loan paid on the same day?

The lenders we work with at Cobra Payday Loans typically offer a same-day transfer of your loan at no extra cost or charge. However, there may be variations in the actual cost of your payday loan, depending on your choice of lender. This is due to the different interest rates you may be offered. Under UK law, there are specific regulations for APR as of 2014.

These regulations ensure your daily interest rate cannot be higher than 0.8%. For longer-term loans – for example, a year-long repayment plan – this means you pay more interest than you would on a three-month loan. Something worth considering when you decide how long you’d like to pay your same-day UK loan back.

What does Cobra Payday Loans cost to use?

Our service is entirely free for people looking to borrow money through a same-day loan in the UK. We help you find the best option for your specific needs, and once you’ve been approved, you’re good to go. It’s that easy.

Why work with Cobra Payday Loans instead of direct lenders?

While some people feel safer using lenders directly instead of using a lender broker service, like the one we provide, we’re a service you can trust. As a fully FCA-regulated brokerage company, we offer the same high standards of security and customer service as you’d expect from a direct lender for small loans and same day lending. We also increase your chances of approval by sending your application to multiple lenders, and we only work with fully FCA approved partners.

Cobra Payday Loans also doesn’t carry out any credit checks, keeps your data safe and is free to use. With all of those benefits, there’s a reason we’re a popular choice of broker for loans in the UK. So why not apply for a loan today!