A £500 loan is a short -term loan which is repaid over a short period of time between 3 and 24 months in general.
Generally, we process loans for people every day looking to borrow money for short terms. Our partner lenders are very adept in handling many types of applications coming from people with very good credit to people wanting loans with very bad credit. Regardless of which type of credit rating you may have you can go ahead and apply today for your £500 loan and our partners’ panel of lenders will match your application very quickly using a soft credit check to the lender most likely to fund your application.
Once an appropriate lender match has been found you could have the cash in your bank account within 15mins† of approval so that you can get to work sorting out that annoying financial issue.
Most people who take out 500 loans generally do so to sort out urgent bills which need paying. Although when you receive your 500 loan you can in theory use the money to spend it on anything you like. The 500 loan is not held on account for the purpose of any specific purchase.
Ideally these 500 loans should be used for urgent pressing expenses and they are not recommended for long term borrowing. When you apply for a 500 loan you can state the purpose of the loan.
When we need money now we can make the wrong decision since we want to sort the problem out as soon as possible just so that we can just get on with our day. We don’t want to spend the morning looking for the best payday loan provider.
To that end, we want to help you by taking the stress off of your shoulders and do the search for you. With over 50 direct lenders to choose from and growing, we could find for you the best lender faster than it would take you to make a cup of tea.
Our application process is designed to be as simple and stress-free as possible. Only a handful of questions to answer which normally takes no more than 5 minutes of your time and you are under no obligation to accept any offer should we find for you a lender willing fund your £500 loan, if you’re accepted for the loan you could have the cash in your account within the hour If not quicker†.
£200 borrowed for 35 days
Annual interest rate of 292% (Fixed)
Total amount payable is £256
1212% APR Representative
You can apply for a £500 loan regardless of your credit rating. Although lenders will be looking at more than just your bad credit rating, they will also need to consider your current financial situation. Such as how much you currently earn, or if you are on benefits how much you receive each month. They want to be sure that you can comfortably afford the repayments each month and not place yourself into any financial corner. You can apply today for a 500 loan for people with bad credit and 500 loan for people with no guarantor.
Getting a £500 loan no credit check is unlikely as no legitimate lender would consider lending money to anyone unless they performed a hard credit check. This is as much for your protection as it is for them, firstly they want to ensure that you can afford the repayments which causing you any financial hardship and secondly they obviously would like to recover the money in the way of monthly repayments and also it is required by law. These are the rules laid out by The Financial Conduct Authority who regulate financial firms here in the UK.
If a lender offers you a £500 loan with no credit check you may want to see if they are regulated, they may not be telling the whole truth, you can visit The Financial Conduct Authority website and see if they are authorised to provide credit, requires all firms engaged in credit activities i.e. offering 500 pound loan no credit check.
Applying for a loan is straightforward and is all online.
Before you start your application have this ready
Simply chose how much you wish to borrow and over how many months you wish to repay the loan
Fill in our simple application form which takes only a few minutes and then apply for your loan
We send your application to our panel of lenders, once approved you will receive the funds directly to your bank account
Your 500 pound loan will be sent straight into your bank account, there is no other way it can be paid. This is why during the application process we ask you for your bank details for this very purpose. Once the funds are in your account then you may withdraw as cash.
Any loans that are advertised as “cash loans” simply means that after the loan has been approved it will be sent to your bank account can then be taken out as cash for you to spend.
They can be if expensive if they are not repaid in time, normally we find people taking these £500 loans out for short periods of time, generally between 3 and 12 months.
Before taking out any type of loan we advise you to determine what you can comfortably afford to repay each month without causing yourself any financial problems and that you have money in the bank at the end of each month to repay the instalment loan on the dates agreed with your lender.
When payday loans were new to the market interest rates where quite high, since then payday loans have come under great scrutiny from The Financial Conduct Authority and they placed a cap on the rate of interest which can be charged each day, this is currently set to 0.8% on any short term loan per day and you’ll never repay more than double the amount borrowed overall, including interest and fees.
There are so many payday lenders advertising they are the best online, there are direct lenders and there are brokers like Cashute.
Regardless whether you opt for a direct lender or a broker make sure that they are registered and authorised by The Financial Conduct Authority.
When contacting your lender they ought to respond to your questions quickly and accurately and that your loan Is approved and has the money in your bank account as quickly as possible. Although it is worth mentioning that your bank can also play a part in how quickly the funds appear in your account.
Also, you want to check that they accept applications for bad credit loans. If the website also features a blog on the latest news and education on how to improve your finances is also a sign that they have your interests in mind.
The biggest benefit is, of course, the ability to respond to an unexpected event with a lump sum of cash. But, compared to other types of credit, there are other benefits to applying for a short-term loan through Cashute:
Depending on your circumstances, you should apply if:
How do I apply for the best payday loan?
To apply a loan is simple. Provided you meet the criteria listed below you can start your application process:
Once completed submit the application form by clicking on the “Apply” button and we’ll find the best match for you. The search will not take long and you’ll have a response in minutes.
When you receive the loan proposal can decide if you wish to proceed with the offer. If you do want to proceed with the loan just apply and the funds will be deposited into your bank account within hours, always remember that you can apply with no obligation even if you have bad credit as many direct lenders support payday loans bad credit.
I am finding handing my debts difficult, what should I do?
If you find yourself in difficulties and are unable to make your repayments, we strongly advise that you contact your creditor immediately, we also recommend that you speak to the companies listed below.