Representative example on a loan of £200 repaid after 30 days: Total charge for credit: £248 Payable in one payment of: £248 Interest: £48 Interest rate: 292% p.a. Representative APR: 1223.6%
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VERIFIED 18/08/2025
Payday loans are becoming increasing popular throughout the years between 2001 till now. Most of these loans are not secured and may have a no guarantor criteria. As these loans require no guarantor, they require only one applicant to undersign to the loan agreement.
Lenders are offer payday loans no guarantor can facilitate your loans much faster than necessary due to the small amount of formalities involved.
Loans can be between £100 to £1,000 and can be repaid between 1 to 24 months. No guarantor payday loans are efficient and may consist of just one application. Most lenders who offer these loans may just require all applications to be carried out online.
The underwriting process may take up to 1 to 3 hours to facilitate. When applying for payday loans no guarantor, the disbursement of cash can take up to 1 hour to reach into your account. Bank statements or Payslips may be necessary in order to carry out a full and through affordability assessment.
Criteria per application without guarantor would be: minimum age 18 years or older; have a UK debit and UK bank account and be a full or part-time employment. As there will be no guarantor, there is less time assessing the payday loans application.