Compare 3 Month Loans: Bad Credit Direct Lenders

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Compare 3 Month Loans
About: History

Instalment loans stand out more so than anything for the high volume of competing brands. There are collectively now almost 40 loan options available to UK residents in this featured 3 month niche. The boom in supply ramped up significantly in early 2015 when price capping pushed many payday firms on to this side. We’d assign instalment lenders as being any company that offers an online loan between the period of 2 and 11 months. The most popular micro-niches for instalments are 3 month loans and 6 month loans. There is often a heavy cross-over with firms offering each of these options. We’ll however be comparing each niches individually, starting with the smaller option here today.

The history of 3 month loan products is tied to QuickQuid (now closed) who had offered a 3rd monthly pay option for a long time. WizzCash appears to have been one of the first specialised firms. They launched in 2012. Historically, payday lenders would just offer rollover extensions. Rollovers do have a bad rep and the FCA has enforced a ruling that limits the number of rollovers to just 2. Quantity-wise, there are more brands offering 3 months, but this niche isn’t quite as competitive, since Lending Stream and the now closed Sunny have competed aggressively for 6. Satsuma is generally considered as the largest instalment provider. They’ve however paused lending (pandemic) that has allowed rival Dot Dot to muscle in.

About: Niche

One of the major problems with payday products is that any money borrowed + interest will need to be repaid fully on the next pay date. This could be a sizeable debt of several hundred pounds and so this can be tricky to pay off over such a short period, especially if the borrower is taking out other loans or racking up a large credit card debt. It is understandable that some people do run into issues and end up missing payments and in some cases lose their account to debt collectors. With a 3 month loan you are at least eradicating that requirement to pay a lump sum in one go.

It’s not only the case that the balance is spread out, but you’ll also be paying less interest since the rate is taken from a reducing balance. Given the choice of course, if a lender does offer a wider range of terms then it may make sense to spread the repayments out even further for greater affordability. Do remember that early settlements are widely available that you should be able to do quickly via your account login. If you were to borrow £300 over 90 days then in general the total charge would typically float around £150. Good competitive value would be seen by those charging less than £100 and there are several companies offering such deals.

Compare 3 Month Loans: Bad Credit Direct Lenders (Alexa Ranked)

Top Ranked

Brand + Alexa Rank
1) SafetyNet | #97,639

SafetyNet Loans

/£300 Price (3m)
£216

Borrow (Existing)
£100 to £500 (£1000)
Choices
Line of credit (reloan monthly when paid)
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-5pm)
Notes
7/7 reloan payouts
Brand + Alexa Rank
2) Drafty | #503,324

Drafty Loans

/£300 Price (3m)
£48.60

Borrow (Existing)
£50 to £3000 (£5000)
Choices
Line of credit (no fixed date)
Opening Hours
Mon/Fri (9am-6pm), Sat (9am-1pm)
Notes
7/7 reloan payouts. Good score required
Brand + Alexa Rank
3) Mr Lender | #591,244

Mr Lender Loans

/£300 Price (3m)
£142.40

Borrow (Existing)
£200 to £500 (£1000)
Choices
3m to 6m
Opening Hours
Mon/Fri (8am-6.30pm), Sat/Sun (8am-3.30pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
4) Tappily | #621,058

Tappily Loans

/£300 Price (3m)
£91.80

Borrow
£100 to £2500
Choices
Line of credit (reloan monthly when paid)
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-5pm)
Notes
7/7 reloan payouts. Good score required
Brand + Alexa Rank
5) MoneyBoat | #624,266

MoneyBoat Loans

/£300 Price (3m)
£136.30

Borrow (Existing)
£200 to £800 (£1500)
Choices
2m to 6m
Opening Hours
Mon/Fri (8am-5pm)
Notes

Brand + Alexa Rank
6) Dot Dot Loans | #642,785

Dot Dot Loans

/£300 Price (3m)
£155.46

Borrow (Existing)
£100 to £1000 (£5000)
Choices (Existing)
3m to 9m (48m)
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-2pm)
Notes
7/7 reloan payouts. Required age (21+) for larger loan
Brand + Alexa Rank
7) CashFloat | #652,336

CashFloat Loans

/£300 Price (3m)
£143.70

Borrow (Existing)
£200 to £500 (£1100)
Choices
1m to 4m
Opening Hours
Mon/Fri (9am-5.30pm)
Notes

Brand + Alexa Rank
8) QuidMarket | #896,021

QuidMarket Loans

/£300 Price (3m)
£154.38

Borrow (Existing)
£300 to £600 (£1500)
Choices
3m to 6m
Opening Hours
Mon/Fri (8am-6pm), Sat (10am-2pm)
Notes
Required age (23+)
Brand + Alexa Rank
9) Fast Loan UK | #1,269,674

Fast Loan UK Loans

/£300 Price (13w)
£146.25

Borrow (Existing)
£50 to £600 (£2000)
Choices
7d to 8m
Opening Hours
Mon/Fri (9am-5pm)
Notes
Monthly repay: £146.62
Brand + Alexa Rank
10) Oakam | #2,016,557

Oakam Loans

/£300 Price (3m)

Borrow (Existing)
£100 to £800 (£5000)
Choices (Existing)
6m (3m to 36m)
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-6pm)
Notes
No example provided. Reloan-only product
Brand + Alexa Rank
11) Cash Asap | #2,364,821

Cash Asap Loans

/£300 Price (3m)
£143.01

Borrow (Existing)
£150 to £400 (£750)
Choices
1m to 6m
Opening Hours
Mon/Fri (9am-5pm)
Notes

Brand + Alexa Rank
12) Auden | #2,448,097

Auden Loans

/£300 Price (3m)
£38.57

Borrow
£200 to £500
Choices
3m
Opening Hours
Mon/Fri (9am-5.30pm)
Notes
Good score required
Brand + Alexa Rank
13) MyKredit | #2,810,955

MyKredit Loans

/£300 Price (3m)
£146.43

Borrow (Existing)
£100 to £400 (£1000)
Choices
2m to 4m
Opening Hours
Mon/Fri (7am-5pm)
Notes

Brand + Alexa Rank
14) Polar Credit | #2,924,887

Polar Credit Loans

/£300 Price (3m)
£50.12

Borrow
£200 to £2000
Choices
Line of credit (no fixed date)
Opening Hours
Mon/Fri (9am-5pm), Sat (11am-5pm), Sun (11.30am-4.30pm)
Notes
7/7 payouts (all). Good score required
Brand + Alexa Rank
15) BingoLoans | #3,047,013

BingoLoans

/£300 Price (3m)
£156.52

Borrow
£50 to £1500
Choices
2m to 12m
Opening Hours
Not disclosed
Notes

Brand + Alexa Rank
16) LoanPig | #3,372,728

LoanPig Loans

/£300 Price (3m)
£156.52

Borrow
£50 to £1500
Choices
2m to 12m
Opening Hours
Not disclosed
Notes

Brand + Alexa Rank
17) Smart-Pig | #3,494,672

Smart-Pig Loans

/£300 Price (3m)
£150

Borrow
£50 to £350
Choices
1d to 6m
Opening Hours
Mon/Fri (9am-7pm), Sat/Sun (10am-6pm)
Notes
7/7 payouts (all). Students only
Brand + Alexa Rank
18) Kabayan Finance | #5,366,322

Kabayan Finance Loans

/£300 Price (3m)
£84

Borrow
£300 to £2000
Choices
1m to 12m
Opening Hours
Mon/Fri (9am-5pm), Sat (10am-2pm)
Notes
Required age (21+)
Brand + Alexa Rank
19) The Money Platform (Peer-2-Peer) | #5,438,348

The Money Platform Loans

/£250 Price (12w) | £300 Unavailable
£112 (variable)

Borrow
£250 to £1000
Choices
4w to 12w
Opening Hours
Not disclosed
Notes
Required age (20+) & good score
Brand + Alexa Rank
20) PM Loans | #6,456,739

PM Loans

/£300 Price (3m)
£156.52

Borrow
£50 to £1500
Choices
2m to 12m
Opening Hours
Not disclosed
Notes

Brand + Alexa Rank
21) Payday Loans Net | #6,771,842

Payday Loans Net Loans

/£600 Price (3m) | £300 Unavailable
£290.90

Borrow
£500 to £1500
Choices
3m to 6m
Opening Hours
Mon/Fri (9am-5.30pm)
Notes

Brand + Alexa Rank
22) Buffa | #7,294,766

Buffa Loans

/£300 Price (3m)
£144.06

Borrow
£100 to £750
Choices
3m to 6m
Opening Hours
Mon/Fri (9am-8pm), Sat/Sun (10am-6pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
23) Quick Loan Shop | #7,299,405

Quick Loan Shop Loans

/£600 Price (3m) | £300 Unavailable
£152.28

Borrow
£100 to £2000
Choices
1m to 12m
Opening Hours
Not disclosed
Notes
Instalments require £400+
Brand + Alexa Rank
24) THL Direct | #7,299,447

THL Direct Loans

/£300 Price (3m)
£183 (approx estimate)

Borrow (Existing)
£125 (£500)
Choices
3m
Opening Hours
Mon/Fri (9am-6pm)
Notes
Reloan example
Brand + Alexa Rank
25) Moneyline | #7,611,869

Moneyline Loans

/£300 Price (3m)
£53.01

Borrow (Existing)
£100 to £500 (£1500)
Choices
3m to 8m
Opening Hours
Mon/Fri (9am-6pm), Sat (9am-4.30pm)
Notes
In-branch option (17 network)
Brand + Alexa Rank
26) Anico Finance | #9,088,930

Anico Finance Loans

/£300 Price (3m)
£73.50

Borrow (Existing)
£300 to £1000 (£2000)
Choices
3m to 12m
Opening Hours
Not disclosed
Notes
Office & phone applications. Required age (21+)

Unranked (Alphabetically Sorted)

Brand
27-36) Care Finance and Loans

Care Finance and Loans

/£100 Price (3m) | £300 Unavailable
£60.35 (approx estimate)

Borrow
£100 to £150
Choices
3m
Opening Hours
Not disclosed
Notes

Brand
27-36) Chloe Brooke Loans

Chloe Brooke Loans

/£300 Price (3m)

Borrow (Existing)
£200 to £1000 (£2000)
Choices
1m to 6m
Opening Hours
Mon/Fri (8.30am-6.30pm), Sat (10am-4pm)
Notes
No example provided
Brand
27-36) Conduit

Conduit Loans

/£300 Price (3m)

Borrow
£200 to £1500
Choices
4w to 52w
Opening Hours
Mon/Fri (10am-2pm)
Notes
No example provided. Pause on lending (covid)
Brand
27-36) Creditstar

CreditStar Loans

/£300 Price (3m)
£157.88

Borrow (Existing)
£100 to £600 (£700)
Choices
1m to 6m
Opening Hours
Mon/Fri (9am-5pm)
Notes

Brand
27-36) Fernovo

Fernovo Loans

/£300 Price (3m)
£150.57

Borrow
£100 to £1000
Choices
1m to 6m
Opening Hours
Mon/Fri (8.30am-5.30pm)
Notes
7/7 payouts (all) due to 7/7 underwriting
Brand
27-36) Ferratum Money

Ferratum Money Loans

/£300 Price (3m)
£154.26

Borrow (Existing)
£50 to £700 (£1000)
Choices
1m to 4m
Opening Hours
Mon/Fri (8am-5pm)
Notes
7/7 reloan payouts. Pause on lending (covid)
Brand
27-36) Pera Loans

Pera Loans

/£300 Price (3m)
£129.63

Borrow (Existing)
£200 to £500 (£1100)
Choices
1m to 3m
Opening Hours
Mon/Fri (8am-5pm)
Notes
Required age (23+)
Brand
27-36) Response Funding

Response Funding Loans

/£300 Price (3m)
£183 (approx estimate)

Borrow (Existing)
£125 (£500)
Choices
3m
Opening Hours
Mon/Fri (9am-6pm)
Notes
Reloan example
Brand
27-36) Tick Tock Loans

Tick Tock Loans

/£300 Price (3m)
£156

Borrow (Existing)
£200 to £500 (£1000)
Choices
3m to 6m
Opening Hours
Not disclosed
Notes

Brand
27-36) WageMe

WageMe Loans

/£300 Price (3m)
£144.06

Borrow
£100 to £5000
Choices
3m to 18m
Opening Hours
Mon/Fri (9am-5pm)
Notes

END OF LISTINGS

Notes…

Alexa.com: Comparison listings are sorted by global traffic rankings. Those unranked are sorted alphabetically.

Amounts: Borrowing amounts displayed are complete ranges (across every term available).

Closures: Credio, In-Sync Credit Services, MPP Money, NextCredit, Pixie Loans, Pogo Loans, Pounds Till Payday, Quidie, Tiger Loans Company, Track Loans, WageDayAdvance, Wonga & Zippa Loans. More recent: MyJar, Peachy, PiggyBank, Quick Loans Express, QuickQuid, Satsuma Loans, SkyQuid, Swift Sterling & WizzCash.

Examples: £300 costs have been sampled. The exceptions are Quick Loan Shop where £600 is shown since instalments require £400+ alongside Payday Loans Net who allow £500+. The Money Platform’s sums rise in £250 increments and so £250 is displayed and finally £100 was added for Care Finance and Loans since they only extend to £150.

Cheapest 3 Month Loan Prices 2021 (90 Days /£300)

Best Prime Deal

1) Auden: £38.57

Subprime

1) Moneyline: £53.01

2) Anico Finance: £73.50

3) Quick Loan Shop: £152.28 /£600 [£76.14]

4) Kabayan Finance: £84

5) MoneyBoat: £136.30

Top Reviews 2021

Feefo.com

No listings

Reviews.co.uk (Percentage + Rounded Counts)

1) Mr Lender: 97% (22,940+)

2) CashFloat: 97% (650+)

3) Fast Loan UK: 96% (100+)

Trustpilot.com (Percentage + Rounded Counts)

1) Moneyline: 98% (2310+)

2) Mr Lender: 96% (8020+)

3) Smart-Pig: 96% (1680+)

Recommended

Drafty Loans

Prime: Drafty

Auden have recently revamped to deliver the cheapest 3 month loan available at £38.57 per £300. There is unfortunately now just a 3m term option there. Drafty still deliver excellent value at £48.60 and as a line of credit their term flexibility is as good as it gets with 24/7 access to your determined limit. This limit would usually be a sizeable one at £3000 (new customers) and £5000 (future potential). A further positive with Drafty is that their service has attracted great reviews across multiple portals. Drafty’s Alexa rank shows that they are also coming along well that isn’t surprising as this project comes from the Lending Stream owners.

Dot Dot Loans

Subprime: Dot Dot Loans

The bulk of page listings are subprime specialised. There are many great options available to choose from, but overall we’d just edge it to Dot Dot at this time. Their charges aren’t market leading, but they are highly flexible in their amounts and terms. They impressively also fund reloans hourly 24/7. They have progressed more so than any rival over the past year and have managed to even become the 2nd most visited. Just SafetyNet comes ahead who are more pricey at this term. It appears that Dot’s future looks more promising through the recent closure of Satsuma. In the doorstep sector both Groups have of course been fierce rivals through the Morses-Provident rivalry.

Last Update: June 16th, 2021