£3000 Loan
Need a £3,000 loan? At Drafty, we offer unsecured personal loans from £1,000 to £3,000, with repayment terms of 12, 18, or 24 months. There are no early repayment fees and we consider bad credit applicants. If approved, the money can be sent to your bank in just 90 seconds*.
Representative 79.9%APR
Representative Example: Given a Representative APR of 79.9%, if you borrow £1000 over 18 months at 59.9% p.a. (fixed), you would owe 18 equal repayments of £85.56. You will repay £1,540.08 in total.
Not all applications will be approved for credit. An offer of credit is subject to status and affordability checks.
Why choose Drafty for a £3000 loan?
Fast
Cash sent to your bank in under 90 seconds, if approved. It may take longer to reach your account depending on your bank’s processes.
Varied repayment periods
Repay in 12, 18 or 24 months.
Convenient
Secure online application available 24/7. An instant decision.
Eligibility criteria for a £3,000 loan
To apply for a £3,000 loan with Drafty, you need to meet the following criteria:
- Age: You must be at least 18 years old.
- Residency: You must be a UK resident.
- Income: Be in regular employment with a net monthly income (after tax) of at least £1,250.
- Bank account: A valid UK bank account and debit card is required.
Once you apply, we’ll run credit and affordability checks. We do this to make sure that you can afford the monthly repayments.
Representative 79.9%APR
How to apply for a £3,000 loan online with Drafty
Once you have checked our eligibility criteria, you can apply:
Apply
Click on the apply now button and complete our online application process. Choose how much you want to borrow. Then, fill in your personal details as well as employment and banking information. It usually takes 15 minutes or so, but application completion time may vary.
Checks & approval
Once we receive your application, we’ll run affordability and credit checks. We do this to see if you can afford the repayments on top of your existing financial responsibilities. In most cases, we’ll give you an instant decision.
Get your money
If approved, we will send the money to your bank in 90 seconds. It may take longer to reach your account, depending on your bank’s processes.
Representative 79.9%APR
Can I get a £3,000 loan with bad credit?
Yes, it is possible to get a £3,000 loan with bad credit. Some loan providers consider more than just your credit score when looking at your application. They may review your overall financial situation. This includes your income and ability to make monthly repayments.
At Drafty, we look beyond your credit rating. There’s a chance you could still be approved for a loan with a low credit score or poor credit history. We use a soft credit check to assess your eligibility without impacting your credit rating. A hard credit check is only added to your credit file when you take out the loan. If approved for a Drafty loan, we’ll send the money to your bank within 90 seconds*.
Drafty: A direct lender
If you choose Drafty, you’re borrowing directly from us – a direct lender. This means there are no middlemen involved in your loan application. You apply directly with Drafty and get an instant decision. If approved, we send the £3,000 loan to your bank within 90 seconds*.
So whether you’re looking for a £3,000 unsecured loan or smaller amounts, choosing a direct lender like Drafty may give you faster access to money.
Repaying your £3,000 loan with Drafty
Your loan is repaid in equal monthly payments. The repayment amounts depend on whether you choose a 12, 18, or 24-month term. Making repayments for your Drafty £3,000 loan is simple. With continuous payment authority, your monthly payments are automatically taken from your bank account on your due date.
Prefer to repay manually? You can also pay using a debit card, Google Pay, or Apple Pay through the Drafty app.
Want to repay your loan early? There’s no early repayment charge, so you can save on interest by clearing your balance sooner.
What can I use a £3,000 loan for?
A £3,000 loan can help cover a range of expenses when you need extra funds. Whether it’s an urgent cost or planned spending, a personal loan from Drafty gives you flexibility.
- Car Repairs – Fix an unexpected breakdown without delay.
- Home Improvements – Upgrade your space with repairs or renovations.
- Unexpected Bills – Cover urgent expenses without stress.
- Dental Costs – Pay for treatments or urgent care (if going through a private dentist).
- Emergency Expenses – Handle any sudden financial situation quickly.
What should I do if my £3,000 loan application is rejected?
If your £3,000 loan application is declined, don’t worry—there are steps you can take to improve your chances in the future.
Check Your Credit File
Ask the lender which credit reference agency was used to assess your application. You can then review your credit report to ensure all information is accurate.
Improve Your Credit History
Work on building a good credit score by making payments on time, reducing debt, and avoiding multiple loan applications in a short period.
Settle Other Debts
Paying off outstanding balances can improve your affordability and increase your chances of approval next time.
Seek Financial Advice
If you’re struggling with money management, a financial professional can help you explore other options.
How do I compare loans?
When comparing loans, it’s important to find the best option for your situation. Start by looking at the loan amount, interest rate, and representative APR to understand the total cost of borrowing. You should also consider the monthly payments. Using a loan calculator can help you estimate these and see if they fit your budget.
At Drafty, we offer 12, 18, or 24 month loans. A shorter loan term like 12 months may mean higher monthly payments, but you’ll pay less interest overall. This reduces the cost of the loan. A longer loan term like 24 months may make monthly payments more affordable, but it may result in paying more interest over time.
By comparing the terms, interest rates, and overall cost, you can choose the loan that best suits your needs and financial situation. At Drafty, we provide loans between £1,000 and £3,000, with flexible terms to help you find the right repayment plan.
FAQs – £3000 Loan
Does Drafty use a hard credit check?
During the initial application, Drafty runs a soft credit check, which lets us assess your eligibility without impacting your credit score. If you choose to borrow after approval, we will perform a hard credit check. Like other lenders, this hard search is recorded on your credit file and may temporarily affect your score.
Is Drafty personal loan unsecured?
Yes, Drafty offers an unsecured loan, meaning you don’t need to provide assets like a car or home as security. Unlike secured loans, our unsecured personal loan doesn’t require a guarantor either. A guarantor is a family member or friend who would be responsible for repayments if you couldn’t pay. With Drafty, you’re in control of your loan without needing anyone else to back it.
Is Drafty a trusted lender?
Yes, Drafty is a regulated lender and is authorised by the Financial Conduct Authority (FCA). Our FCA registration number is 689378, meaning we follow strict rules to ensure fair and responsible lending.
Please think carefully about whether Drafty is the right solution for you. This is even more important if you're in financial difficulty. If we don't think you can afford to repay your credit, we won't be able to approve you. We'll look at your current finances and credit history before we decide whether to give you credit. Failure to repay could impact your credit file.