Same day loans
Looking for same day loans? Drafty offers loans from £1,000 to £3,000 to cover unexpected expenses and financial emergencies. We’ll send the cash to your bank the same day if approved. Although it may take longer to reach your account depending on your bank’s processes. Drafty is an FCA-authorised direct lender in the UK. We also consider people with bad credit history.
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 same day loans?
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.
What are same day loans?
Same day loans are short term loans designed to provide quick financial support in urgent situations. They can cover emergency expenses, bills, repairs, and any other unexpected expenses. Once approved, the money is typically transferred directly to your bank account on the same day.
There are many lenders in the UK offering online loans. Often, same-day loans involve a simple application process. They also have flexible repayment periods, and consider individuals with poor credit history.
Eligibility for a same day loan with Drafty
To apply for a same day loan with Drafty, you need to meet the following requirements:
- Age: You must be at least 18 years old.
- Residency: You must be a UK resident.
- Income: Be in regular employment with a monthly income 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 same day loan online with Drafty
Here’s how to apply for a same day loan with Drafty:
Apply
Click on the apply now button below and complete our online application process. Choose how much you want to borrow. Then, fill in your personal, employment, and bank account details. It takes around 15 minutes to complete (application completion time varies).
Checks & approval
Once you submit the application, we’ll run credit and affordability checks. This is 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
How much can I borrow with a same day loan?
The amount you can borrow with a same day loan depends on the lender, your financial circumstances, and your credit score. Many lenders in the UK offer loans starting from a few hundred pounds. Some lend up to several thousand.
The approved amount depends on factors such as your credit history, credit score, and ability to make repayments.
When you apply for a Drafty loan, we’ll give you an instant decision. You can borrow between £1,000 – £3,000. If we approve you, we’ll send the money to your bank in 90 seconds. Please note, it may take longer to reach your account, depending on your bank’s processes.
What can I use a same day loan for?
Same day loans are designed to provide quick access to cash for urgent financial needs. You can use loan to:
- Relocate or move
- Make home improvements
- Cover unexpected expenses
- Fix your car and other vehicle repairs
If you are considering a same day cash loan, look at the interest rate and repayment terms. Ensuring you can comfortably repay the loan is the key to avoiding financial difficulties.
Representative 79.9%APR
Can I get same day loans for bad credit?
Yes, you can get same-day loans if you have bad credit. Many lenders in the UK consider applications from individuals with less-than-perfect credit scores. They instead look at factors like your current financial situation and regular income.
However, it’s important to be aware that most lenders charge higher interest rates for borrowers with a bad credit score, as they are considered a higher risk.
At Drafty, we understand that bad credit can happen to anyone. That’s why we consider applications from people with poor credit ratings.
Do same day payday loans exist?
Yes, same day payday loans do exist and are offered by payday loan lenders in the UK. These loans are designed to provide quick access to funds. But it’s important to be cautious when considering a payday loan.
While they can be helpful for addressing urgent financial needs, the high interest rates can lead to a cycle of debt if not managed properly.
At Drafty, we offer an alternative to traditional payday loans. You can borrow between £1,000 and £3,000 with flexible repayment periods of 12, 18, or 24 months. Plus, we allow early repayment, helping you save money on interest.
FAQs – Same day loans
How quickly can I get a same day loan with Drafty?
With Drafty, if your application process is approved, we transfer the funds to your bank within 90 seconds. Processing times depend on your bank, but most applicants receive their funds on the same day. This makes Drafty an excellent option for emergency expenses or unexpected bills, ensuring you get the money quickly without delays.
Can I get same day loans with no credit check?
No, it’s unlikely to get a same day loan without any credit check. All FCA-regulated direct lenders are required to perform creditworthiness checks which may include a credit check. This ensures responsible lending practices and a thorough assessment of each application. You should avoid lenders offering loans with no checks, as they may have hidden fees or unclear terms that may worsen your financial situation.
Is there a way to get a loan on the same day?
Yes, many lenders offer same day loans with quick online applications. You’ll need a valid bank account, proof of regular income, and meet their affordability assessments.
Can I get guaranteed same day loans?
No lender can guarantee a same-day loan, as approval depends on factors like passing eligibility, ID and creditworthiness checks. Drafty works to provide fast decisions. While we cannot guarantee approval, we ensure a fair and transparent application process for all customers.
Are same day loans safe?
Yes, same day loans are safe when taken from FCA-authorised and regulated UK lenders. Drafty sticks to FCA rules ensuring clear terms and no hidden fees. We conduct responsible credit checks and offer flexible repayment options, helping you manage emergency expenses securely and stress-free.
Will a same day loan affect my credit score?
Yes, a same day loan can affect your credit score in both positive and negative ways. Making timely payments and repaying the loan can improve your credit score by demonstrating responsible borrowing and payment habits. Not following the repayment schedule or missing a payment can hurt your credit score.
Can I really get a loan on the same day?
Yes, many lenders, including Drafty, provide funds on the same day if your application is approved. Once approved, Drafty transfers the money to your bank within 90 seconds, ensuring you can handle emergency expenses or unexpected bills without delays. Please note, it may take longer to reach your account depending on your bank’s processes.
What if I’m not approved for a same day loan?
If you’re not approved for a same day loan, it’s important to understand why. Factors such as a poor credit history, low credit score, or insufficient regular income may affect your eligibility. Start by reviewing your credit report for any errors and take steps to improve your credit rating over time.
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.