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The Best Loans for Bad Credit Compared

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Compare 3 Month Loans: Bad Credit Direct Lenders

Compare 3 Month Loans
About: History

Instalment loans stand out more so than anything by the high volume of competing brands. There are collectively now around 40 loan options available to UK residents in each sub-niche. The boom in supply ramped up significantly in early 2015 when price capping pushed many payday firms on to this side. We’d personally assign instalment lenders as 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 who have offered a 3rd monthly pay option for a long time now. WizzCash appears to have been one of the first specialised firms on this period. 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 lenders like Lending Stream and Pounds to Pocket compete for 6. QuickQuid’s site has the most visibility in this sector, whilst Satsuma is considered as the largest instalment specialised provider.

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 losing the 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 closer to £100 (or less) and there are several companies offering such deals.

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

UK Ranked

Brand + Alexa Rank
1) QuickQuid | #13,595
/£300 Price (3m)
£205.20 (+promo) to £216
Borrow (Existing)
£50 to £1000 (£1500)
Choices
1m to 3m
Opening Hours
Mon/Fri (8am-9pm), Sat/Sun (10am-6.30pm)
Notes
7/7 payouts (all). Promo (QQ5S)
Brand + Alexa Rank
2) Satsuma Loans | #19,240
/£300 Price (13w)
£129.26
Borrow (Existing)
£100 to £1000 (£2000)
Choices
3m to 12m
Opening Hours
Mon/Fri (8am-8pm), Sat (8.30am-5pm)
Notes
Monthly repay: £142.80
Brand + Alexa Rank
3) PiggyBank | #19,294
/£300 Price (3m)
£155.97
Borrow (Existing)
£100 to £1000 (£1500)
Choices
7d to 5m
Opening Hours
Mon/Thu (8am-6pm), Fri (8am-4.30pm), Sat (9am-1pm)
Notes

Brand + Alexa Rank
4) SafetyNet Credit | #21,842
/£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
5) Drafty | #29,171
/£300 Price (3m)
£48.60
Borrow (Existing)
£50 to £3000 (£5000)
Choices
Line of credit (no fixed date)
Opening Hours
Mon/Fri (7am-10pm), Sat/Sun (7am-10pm)
Notes
7/7 payouts (all). Good score required
Brand + Alexa Rank
6) MyJar | #36,684
/£300 Price (3m)
£144.06
Borrow
£100 to £4000
Choices
3m to 24m
Opening Hours
Mon/Fri (8am-8pm), Sat (8am-6pm), Sun (9am-6pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
7) Smart-Pig | #36,722
/£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
8) Mr Lender | #45,081
/£300 Price (3m)
£144.80
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
9) CashFloat | #60,317
/£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
10) Swift Sterling | #67,124
/£300 Price (3m)
£155
Borrow (Existing)
£200 to £1000 (£1500)
Choices
1m to 5m
Opening Hours
Mon/Sat (7.30am-11.30pm), Sun (2pm-10.30pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
11) Tappily | #71,237
/£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

Globally Ranked (Only)

Brand + Alexa Rank
12) Ferratum Money | 878k
/£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
Brand + Alexa Rank
13) Peachy | 1.1m
/£300 Price (3m)
£117.35 (+promo) to £122.35
Borrow
£100 to £1000
Choices
1m to 12m
Opening Hours
Mon/Fri (8am-8pm), Sat/Sun (10am-6pm)
Notes
7/7 payouts (all). 2m+ promo (5OFF)
Brand + Alexa Rank
14) Cash Asap | 1.5m
/£300 Price (3m)
£151.23
Borrow (Existing)
£100 to £300 (£750)
Choices
1d to 3m
Opening Hours
Mon/Fri (8am-9pm), Sat (8am-7pm), Sun (9am-7pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
15) Fernovo | 1.9m
/£300 Price (3m)
£92.85
Borrow
£100 to £1000
Choices
1m to 6m
Opening Hours
Mon/Fri (9am-6pm)
Notes
7/7 payouts (all) due to 7/7 underwriting
Brand + Alexa Rank
16) WizzCash | 2m
/£300 Price (3m)
£154.26
Borrow (Existing)
£300 (£1000)
Choices
3m
Opening Hours
Mon/Fri (9am-5.30pm)
Notes

Brand + Alexa Rank
17) Payday Loans Net | 2.1m
/£300 Price (3m)
£143.70
Borrow (Existing)
£200 to £700 (£2000)
Choices
1m to 6m
Opening Hours
Mon/Fri (8am-5pm)
Notes

Brand + Alexa Rank
18) The Money Platform (Peer-2-Peer) | 2.4m
/£250 Price (3m) | £300 Unavailable
£112
Borrow
£250 to £1000
Choices
1m to 3m
Opening Hours
Not disclosed
Notes
Required age (20+) & good score
Brand + Alexa Rank
19) CreditStar | 2.5m
/£300 Price (3m)
£145.60
Borrow (Existing)
£100 to £300 (£700)
Choices
1m to 6m
Opening Hours
Mon/Sun (9am-8pm)
Notes
7/7 payouts (all)
Brand + Alexa Rank
20) MoneyBoat | 2.6m
/£300 Price (3m)
£136.30
Borrow (Existing)
£200 to £800 (£1500)
Choices
2m to 6m
Opening Hours
Mon/Fri (8.30am-5.30pm)
Notes

Brand + Alexa Rank
21) WeLendUs (Peer-2-Peer) | 2.7m
/£300 Price (3m)
£104.49
Borrow
£50 to £500
Choices
21d to 3m
Opening Hours
Mon/Fri (9am-5pm)
Notes

Brand + Alexa Rank
22) QuidMarket | 2.9m
/£300 Price (3m)
£154.37
Borrow (Existing)
£300 to £600 (£200 to £1000)
Choices (Existing)
3m to 6m (1m to 6m)
Opening Hours
Mon/Fri (8am-6pm), Sat (9am-4pm)
Notes

Brand + Alexa Rank
23) Dot Dot Loans | 3m
/£300 Price (3m)
£183.97
Borrow (Existing)
£100 to £600 (£1250)
Choices (Existing)
3m to 9m (12m)
Opening Hours
Mon/Fri (8.30am-6pm)
Notes

Brand + Alexa Rank
24) MyKredit | 3.1m
/£300 Price (3m)
£147.51
Borrow (Existing)
£100 to £400 (£1000)
Choices
2m to 4m
Opening Hours
Mon/Fri (8am-7pm), Sat (9am-5pm)
Notes

Brand + Alexa Rank
25) Response Funding | 3.2m
/£300 Price (3m)
£183 (approx estimate)
Borrow (Existing)
£125 (£500)
Choices
3m
Opening Hours
Mon/Fri (9am-6pm)
Notes
Reloan example
Brand + Alexa Rank
26) Auden | 3.5m
/£300 Price (13w)
£102.09
Borrow (Existing)
£200 to £400 (£1000)
Choices
7d to 12m
Opening Hours
Mon/Fri (9.30am-5pm)
Notes
Monthly repay: £121.82
Brand + Alexa Rank
27) Quick Loans Express | 4.7m
/£300 Price (3m)
£143.70
Borrow (Existing)
£200 to £500 (£1100)
Choices
1m to 4m
Opening Hours
Mon/Fri (8am-5pm)
Notes

Brand + Alexa Rank
28) Quick Loan Shop | 5.2m
/£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
29) Fast Loan UK | 5.9m
/£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
30) SkyQuid | 9.8m
/£300 Price (3m)
£149.15
Borrow (Existing)
£50 to £500 (£1000)
Choices
2m to 6m
Opening Hours
Mon/Fri (9am-6pm)
Notes

Brand + Alexa Rank
31) Care Finance and Loans | 11.6m
/£100 Price (3m) | £300 Unavailable
£60.35 (approx estimate)
Borrow
£100 to £150
Choices
3m
Opening Hours
Not disclosed
Notes

Brand + Alexa Rank
32) Anico Finance | 12.7m
/£300 Price (3m)
£73.50
Borrow (Existing)
£300 to £1000 (£2000)
Choices
3m to 12m
Opening Hours
Not disclosed
Notes
Phone applications only
Brand + Alexa Rank
33) THL Direct | 13.3m
/£300 Price (3m)
£183 (approx estimate)
Borrow (Existing)
£125 (£500)
Choices
3m
Opening Hours
Mon/Fri (9am-6pm)
Notes
Reloan example
Brand + Alexa Rank
34) JL Money | 18.2m
/£300 Price (3m)
£121.59
Borrow
£200 to £500
Choices
3m to 6m
Opening Hours
Mon/Fri (9.30am-5.30pm)
Notes
Guarantor option has larger amounts

Unranked (Alphabetically Sorted)

Brand
35-37) Kabayan Finance
/£300 Price (3m)
£109.94
Borrow
£100 to £1000
Choices
1m to 12m
Opening Hours
Mon/Fri (9am-5pm), Sat (10am-2pm)
Notes

Brand
35-37) 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
35-37) Tick Tock Loans
/£300 Price (3m)
£156
Borrow (Existing)
£200 to £500 (£1000)
Choices
3m to 6m
Opening Hours
Not disclosed
Notes

END OF LISTINGS

Notes…

Alexa.com: Comparison listings are sorted by traffic rankings. Groupings: 1) UK ranks, 2) Global ranks (no UK) and 3) Unranked (sorted alphabetically).

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

Closures: Credio, H&T Finance (web), In-Sync Credit Services, MPP Money, Pixie Loans, Pogo Loans, Pounds Till Payday, Tiger Loans Company, Track Loans, Wonga & Zippa Loans. More recent: NextCredit, Oakam, Quidie & WageDayAdvance.

Examples: £300 costs have been sampled. The exceptions are Quick Loan Shop where £600 was used since instalments require £400+. The Money Platform’s sums also rise in £250 increments.

Cheapest 3 Month Loan Prices 2019 (90 Days /£300)

Best Prime Deal

1) Drafty: £48.60

Subprime

1) Anico Finance: £73.50

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

3/4) Fernovo: £92.85

3/4) Quidie Online Lending: £92.85

5) Auden: £102.09

Top Reviews 2019

Feefo.com (12 Month Data)

1) THL Direct: 96% (100+)

2) Response Funding: 96% (60+)

3) PiggyBank: 94% (500+)

Reviews.co.uk (All-Time Data)

1) Fast Loan UK: 100% (80+)

2) Mr Lender: 98% (22,670+)

3) Drafty: 96% (670+)

Trustpilot.com (All-Time Data)

1) Mr Lender: 95% (5500+)

2) MoneyBoat: 95% (2360+)

3) Drafty: 92% (7750+)

Recommended

Drafty Loans

Prime: Drafty

The cheapest 3 month loan available on the market comes from Drafty at £48.60 per £300. If you have a fair to good credit score then this would be the obvious choice due to the excellent value. As being a line of credit you can of course borrow up to your set limit 24/7. This limit would usually be a sizeable one also at £3000 (new customers) and £5000 (future potential). A further positive with Drafty is that their service has attracted great reviews noting 96% (Reviews.co.uk) and 92% (Trustpilot). Drafty’s Alexa rank shows that they are coming along well that isn’t surprising since it’s the same team as Lending Stream.

Satsuma Loans

Subprime: Satsuma 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 Satsuma at this time. Their charges were £129.26 (weekly) or £142.80 (monthly) that are competitive. What’s great about Satsuma is that you can pick any single month between 3 and 12. They are also open on Saturdays and above all else are highly trusted, as part of the historic Provident Financial group. Some excellent instalment loan deals were available from Anico Finance (£73.50), Auden (£102.09) and WeLendUs (£104.49). We’d however prefer to see these gather improved traffic ranks and more feedback online before considering passing on a recommendation.

Last Update: May 24th, 2019

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