Looking for Payday Loans Online?
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Payday loans from a direct lender
Unykredit is a direct lender, which means we lend you money directly. If you’re searching for a payday loan online, we recommend only applying with direct lenders and not brokers. Not sure which website is a direct lender and which is a broker? Click here to find out! Brokers will take your information and sell it to other payday loan companies. They will then contact you with a loan offer. With Unykredit, you deal with us from start to finish. We’re available by email, phone if you have any questions.
Reasons to choose Unykredit
Our payday loans are simple, straightforward and convenient. Here are some reasons why a Unykredit loan will work for you.
- We are the only lender that offers cashback on your loan
- We are a direct lender and you will get the money from us directly
- We have flexible and affordable repayment plans
- We offer same day funding guaranteed on approved applications
- Our customer service agents
- We have live support available at any time on your loan journey
- You can repay early anytime and save on interest
- You can borrow our loans for up to 360 months
When should you borrow payday loans?
You should use payday loans online for urgent but temporary cash-flow problems, such as if you:
- Receive a one-off reduced salary,
- Need to pay an urgent bill or an overdue debt
- Need extra income during holiday seasons,
- Must cover an emergency medical bill.
When should you avoid borrowing pay day loans?
You should never use payday loans from Unykredit to pay recurring bills (like utilities or your rent/mortgage), for luxury items or non-essential expenses. Other common reasons people apply for our short term loans when they shouldn’t are:
- When they are made redundant. Instead, you should seek help from your local Jobseeker’s Centre and consider a government allowance.
- To pay off other debts. It rarely makes sense to pay off other debt with an online payday loan as the interest rate is so high. Instead, look into a debt consolidation loan.
- To pay your overdraft. Once in a while, it can be OK to cover your overdraft with a Unykredit loan. Still, if this happens constantly, you should cancel your overdraft to make it impossible to go overdrawn.
Are payday loans bad?
Payday loans are a valuable (and sometimes the only available) financial tool for people who use them responsibly. Banning payday loans does not always have a positive effect (as seen from studies on the 12 USA states where they’re already prohibited). Banning payday loans will remove the buffer that can help people, including thousands of our customers, to cover emergency expenses.
Without authorised payday loans, people may be driven to loan sharks – a far worse option. So, instead of banning them, the Financial Conduct Authority decided to regulate the industry carefully.
Are payday loans safe?
In 2015, the Financial Conduct Authority introduced an interest cap on payday loans that forever changed the payday loan market. Now, when you borrow a loan online, the interest can’t exceed 0.8% per day, and you can’t be charged more than double the amount borrowed.
Default fees were also capped to €15 per loan, although if a lender takes legal action against you, legal fees will be added to your balance. We’re not saying payday loans are good for you – but there is much more regulation these days. We started Unykredit after these regulations came into effect, so our loans have been regulated by the FCA from the beginning.
How do I know if a payday lender is legit?
To check if a lender is legit, search the Financial Services Register for their name, and make sure the website that comes up is the same as the website you are on.
It’s also essential to check whether the site is authorised to act as a broker or a direct lender. Brokers can only refer your application to someone else, whereas a direct lender like Unykredit can lend to you directly.
Unykredit is both a direct lender and broker. If we can’t fund you a loan, you can activate our free brokerage service, and we will try to find you an alternative lender.
Payday loans are expensive! If an alternative is available, please check if it is more affordable before borrowing payday loans. Please remember that late repayment can make your loan more expensive. Always ensure you can afford the loan repayments of any loan you apply for.
Check out alternativesWho is Unykredit?
Our company was founded in 2014 to help hard-working people overcome short-term financial emergencies. Most of our customers are declined by their own banks and other mainstream lenders due to bad credit history.
We specialise in fast online credit for all bad, fair or good credit scores. Unykredit’s developers have built a custom decision engine that considers many factors, not just your credit score, to increase your chances of approval.
More about us
Unykredit is a consumer favourite for direct payday loans .
We’ve worked hard to create a high standard for fair borrowing from the beginning. We understand how frustrating it can be when lenders repeatedly decline your loan application. We are committed to full transparency and fair and flexible loan repayments. We are a direct lender who puts our customers’ needs and requirements before ours. Always.
Other helpful loan resources:
We hope we’ve been able to answer most of your questions about payday loans. If you’d like to learn more about different types of loans, check out these pages: