Every loan available through Cheque Centre is repaid in full over a set term of 3 to 18 months. Here's how they work, so you can choose what suits you.
Today's payday loans are no longer one repayment within 30 days. Most are now spread over up to three months, and you can usually pay early if you're able to. They're usually for smaller amounts, often £100 to £1,000 – larger sums over such a short period are bridging loans, which we don't arrange.
More about payday loansBorrow more – up to £2,750, even if it's your first loan with us – and spread your repayments over anything from 3 to 18 months.
More about 12 month loans| Compare | Payday loan | 12 month loan |
|---|---|---|
| How long | Up to 3 months | 3 to 18 months |
| How much | Often £100 to £1,000 | Up to £2,750, including first-time customers |
| Best for | Bridging a short gap until you're paid | A larger cost you'd rather spread out |
Not sure how much to borrow? See what each amount is typically used for, how long people take to repay it and what lenders look for.
Loans repaid within 12 months: how they work, and how they compare with other ways to borrow.
Read more →Why a poor credit history doesn't rule you out, and what lenders really look at.
Read more →The honest answer about credit checks – and why getting a quote won't affect your score.
Read more →Your loan comes from one of our partner lenders, and each sets its own repayment arrangements, so always check the details in your loan agreement. As a general guide:
Most short-term loans count as high-cost short-term credit under the Financial Conduct Authority's rules. Broadly, that's an unsecured loan with an APR of 100% or more that's repaid, or mostly repaid, within 12 months – or that's advertised as short-term. Those loans are covered by the FCA's price cap:
That's why the old pattern of borrowing once, repaying everything in 30 days and being hit with large late charges has largely disappeared. Your loan agreement will show the full cost of your loan, whether or not it's covered by the cap. See loan costs for the most a loan could cost you.
Our loans are for people with a regular, dependable income who are hit by an unexpected cost – a car breakdown, a surprise phone bill or a family emergency.
They aren't the answer if you're struggling to keep up with regular commitments such as your mortgage or car finance. If that's the case, speak to that lender about changing your arrangement, or get free, confidential advice from MoneyHelper.
A short online application and an instant decision. We help people who need to borrow a small amount for an immediate problem, and we don't judge anyone for their situation. The lenders we work with are used to helping people whose credit history isn't perfect, so being turned down by a bank doesn't mean you'll be turned down here.
Whether your application is accepted or not, you'll be treated the same way. It's free to apply, the checks made through our site are soft searches so your credit score isn't affected, and we never use your details for marketing. If no lender can help this time, we'll tell you straight away, and you're welcome to try again after 30 days. If anything goes wrong, our complaints process is quick and simple, and we'll take extra care with anyone going through a difficult time.
Representative example: £1,500.00 borrowed for 12 months. Monthly repayment is £154.12, total repayable is £1,849.47. Total cost of credit £349.47. Representative 49% APR. Credit broker not a lender. All loans are subject to status and only available to UK residents over the age of 18. Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk
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