£100 loans
Borrow 100 pounds today: fast approval & same-day funding
Need to borrow extra cash to cover a shortage or unexpected expense? No problem! You can apply for a quick £100 loan today with Instant Lolly's simple online application. Get approved in minutes, and with £100 loans funded the same day†, we'll have you back on track in no time.
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FCA: 742221
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ICO: Z3495700
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£100 loans: key information
| What are they? |
Short-term lending option designed to help with cash flow issues and small emergency expenses. |
| Loan terms |
Typically between 1 and 12 months, but potentially longer. |
| Loan types |
Payday loans (up to 30 days), Short-term instalment loans (2 to 12 months). Unsecured, with no guarantor required. |
| Accessiblity |
Bad credit considered and alternative incomes accepted, including benefits, pensions and self-employment. |
| Loan providers |
Direct lenders, specialising in small personal loans. |
How It Works
Instant Lolly: the hassle-free way to apply for a small loan
Skip the search, and find your perfect £100 loan with Instant Lolly. Get a quick decision and the cash you need fast.
Application process
Apply online (It's easy!)
No paperwork, meetings, or hold music. Just fill out our quick online application.
Get a fast decision (Minutes)
We'll send your info to lenders and get you a decision in just a few minutes.
Review & decide (You're in control)
If approved, we'll show you the offer details on a secure lender's page. Take your time to review everything. If it's a good fit, sign electronically.
Get your personalised quote in under 10 minutes
- Supercharge your loan search
- See your rate & costs upfront
- Keep your credit score safe
Get a Quote
It's fast, free and won't affect your credit score‡
Eligibility criteria
To apply you must:
- Be at least 18 and a permanent UK resident.
- Have a regular monthly income of at least £500.
You will also need a:
- Mobile phone and email address.
- UK bank account with a debit card.
Privacy assured: We will never use, sell or share your information for marketing purposes. ICO registration: Z3495700.
Costs
How much will a £100 loan cost?
The cost of a £100 loan depends on the lender and your specific situation, but there's an upper limit due to FCA regulations.
In simple terms, each £100 you borrow comes with a daily fee, which is capped at 80p per day. So, for a short-term or payday loan of £100, the maximum daily interest will be 80p. The total cost will depend on how long you need the money.
A personalised breakdown of the costs will be provided once you apply, which could be cheaper, but the table below should give you a general idea.
Repayment
How repayment works
The majority of short-term loans are repaid in equal monthly instalments. Your lender will set up the collection of payments from your bank on the agreed dates. You just need to make sure that there are enough funds available on those collection days.
£100 loan repayment terms
While we offer flexible repayment terms from 1 to 12 months for a £100 loan, a shorter repayment period (ideally between 1 and 3 months) is typically recommended. This helps keep the overall cost lower.
Responsible Borrowing: Only borrow what you absolutely need and can realistically repay on time. Don't use a £100 loan to solve long-term financial problems. Consider free financial advice services if you're struggling with debt.
FAQs
£100 loans: your questions answered
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Can I get a £100 loan with no credit check?
No, true "no credit check" loans aren't available in the UK. Responsible lenders are required to conduct affordability checks, which typically include reviewing your credit history. This rule applies even to smaller loans, such as £100. However, there's good news for those with bad credit:
- We collaborate with a network of direct lenders who consider factors beyond your credit history when making decisions.
- We assess your eligibility for a £100 loan without impacting your score with a hard credit check.
So, while "no credit check direct lenders" aren't a reality, Instant Lolly can still help you explore potential options and find more adaptable lenders that fit your situation.
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Can I apply for a £100 loan with bad credit?
Yes, you can apply for a £100 loan with bad credit. We work with lenders who prioritise affordability first and foremost. While they do consider your credit history, they also take into account your current income and financial situation to ensure you can comfortably repay the loan. So, even with bad credit, if you're confident you can afford the repayments, we encourage you to apply.
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Can I borrow £100 for a week or two, or repay an instalment loan early?
Yes, you can. Many direct lenders allow you to repay your loan early and save on interest charges, which is known as "early settlement".
For example, if you know you'll get paid in a week, you could opt for a 30-day (payday) loan and settle it as soon as you get paid (requesting early repayment). That way, you only borrow £100 for a week rather than a whole month, potentially saving up to £18 in interest (based on a rate of 0.8% per day).
Keep in mind that early settlement terms vary by lender, so be sure to check your loan agreement once you're accepted.
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Are there any hidden fees or charges with a £100 loan?
Our service is free and there are no upfront costs from lenders we work with. However, as with most loans, some lenders may charge fees for late payments. Be sure to check the terms carefully before applying.
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Can I apply for a £100 loan if my main income comes from benefits?
Yes, you can apply for a £100 loan on benefits, but it depends on whether you are receiving regular benefits or are currently out of work:
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On regular benefits (e.g. disability benefits):
We work with specialised lenders who consider regular benefits like disability income when evaluating loan applications. We can connect you with these lenders who can assess your situation and determine if a loan is a suitable and affordable option for you.
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Out of work (e.g. claiming Jobseeker's Allowance):
Unfortunately, we cannot provide loans to unemployed individuals due to the unpredictable nature of jobseeker's allowance and the likelihood that benefits will be below our minimum income threshold.