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£300 Loan

A £300 loan is a small, short-term borrowing option ideal for covering unexpected expenses, emergencies, or bridging financial gaps until your next payday. These loans typically come with quick approval processes and repayment terms ranging from a few weeks to several months, depending on the lender.

How much would you like to borrow?
Representative 79.9% APR Rates from 12.9% APR to 1721% APR. The minimum Loan Term is 1 month. The maximum Loan Term is 36 months. Representative Example: £1,000 borrowed for 18 months. Repayment of 17 Months at £87.22 and final repayment of £87.70 The total amount repayable is £1570.44. Interest amounts to £570.44, an annual interest rate of 59.97%.

What Is a £300 Loan?

A £300 loan provides quick access to a modest amount of money, often with a simple application process. Borrowers repay the loan in fixed instalments or as a lump sum, depending on the agreed terms. These loans are designed for short-term use and should be repaid promptly to avoid additional interest.

How Do £300 Loans Work?

  1. Application: Complete an online or in-person application with personal and financial details.
  2. Approval: Lenders assess affordability and may conduct a credit check.
  3. Funding: Once approved, the funds are transferred directly to your bank account, often on the same day.
  4. Repayment: The loan is repaid in instalments or as a one-time payment, including interest.

Common Uses for a £300 Loan

Emergency Repairs

Cover urgent car or home repairs.

Utility Bills

Avoid disruptions by paying overdue bills.

Medical Expenses

Handle unexpected medical or prescription costs.

Short-Term Cash Flow

Bridge the gap between paydays for essential expenses.

Benefits of a £300 Loan

Fast Approval and Funding

Funds are often available on the same day, making these loans ideal for emergencies.

Fixed Repayments

Predictable instalments help with budgeting and financial planning.

Accessible for Poor Credit

Many lenders specialise in small loans for borrowers with poor credit, focusing on affordability rather than credit scores.

Flexible Terms

Repayment periods typically range from a few weeks to a few months, depending on the lender.

Things to Consider

Higher Interest Rates

Small, short-term loans often come with higher interest rates. Always check the total repayment amount before borrowing.

Repayment Obligations

Missing payments can result in additional charges and negatively impact your credit score. Borrow only what you can afford to repay.

Who Can Apply for a £300 Loan?

  • Individuals aged 18 or older.
  • Borrowers with a UK bank account and regular income.
  • People with good, fair, or poor credit histories.

Alternatives to a £300 Loan

If a £300 loan isn’t suitable, consider:

  • Overdrafts: Use an authorised overdraft for short-term borrowing.
  • Credit Union Loans: Community-based lenders offering fair terms and lower interest rates.
  • Payday Loans: Short-term loans repaid in one lump sum.

Frequently Asked Questions

How quickly can I receive a £300 loan?

Funds are often disbursed on the same day of approval, depending on the lender and application timing.

Can I get a £300 loan with bad credit?

Yes, many lenders provide £300 loans to borrowers with poor credit, focusing on affordability rather than just credit scores.

What repayment terms are available?

Repayment terms for £300 loans typically range from a few weeks to several months, depending on the lender.

Are £300 loans regulated in the UK?

Yes, all lenders offering £300 loans must be authorised by the Financial Conduct Authority (FCA), ensuring transparency and fair practices.