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Everyday Loans Review: Quick Loans for Bad Credit

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Available amount: £1000 to £15,000
Loan term: 18-60 months
Fees: None
Max APR: 299.8%
Customer support: Local office
Initial approval assessment time: A couple of minutes

Updated: July, 19, 2023


  • Flexible loan amount and terms
  • Accessible to people with bad credit score
  • Soft credit check only
  • No fees
  • Variety of loans available
  • Long-term loans available
  • Cons

  • No online customer support
  • You have to visit a local branch to finalise your loan application
  • Can reject your application in office (even if it had a good approval rate online)
  • Everyday Loans is a lender that aims to provide tailored, case-by-case loans to every borrower– including those with a less than perfect credit score.

    In this Everyday Loans review, we’re looking at what type of loans it offers, whether it’s good for people with bad credit, and if you can apply for one.

    What Is Everyday Loans?

    Everyday Loans is a UK-based independent personal loan lender that was founded back in 2006. 

    The lender aims to make both short-term and long-term loans accessible to everyone, regardless of their credit score or living situation – but only to people that can afford them.

    What Type of Loans Do Everyday Loans Offer?

    Everyday Loans offers different loans based on the purpose of the loan and the borrower’s situation. 

    Applicants can borrow anywhere from £1000 to £15,000 with loan terms ranging from 18 months to 5 years, depending on the type.

    If you’re looking for a lender that offers a variety of smaller loan amounts, you might want to consider Quidmarket, Savvy Loans or Bamboo Loans.

    Here’s what Everyday Loans offers:

    • Bad credit loan: Applicants with less than a low credit score or little credit history can apply for a loan over 2 – 5 years. The company says it can also help potential borrowers who have been denied a loan before.
    • Everyday Loans Debt Consolidation: This type of loan combines outstanding loans, credit card debt, and shop card debt into one single loan to allow for monthly payments that are more easily manageable. 
    • Unsecured loans: Everyday Loans offers a variety of unsecured personal loans to potential borrowers, loans that can cover home improvements, the purchase of a car or the cost of a wedding. They are available from £1,000 to £15,000 over 18- 60 months.
    • Couple/Joint loans: Everyday Loans allows couples, panthers, or family members, to apply for a loan together. The lender will look at both applicants’ credit, instead of just one, and possibly offer a larger loan amount and better Everyday Loans rates.
    • Self-employed loans: The lenders accept applications from people who are self-employed. Self-employed individuals can apply for a loan of up to £15,000 over 18- 60 months at a minimum of 24.2% APR.

    Worth noting: Everyday Loans does not offer loans for business or gambling. It does however offer more types of loans than some of its biggest competitors, including THL Direct and CASH4UNOW

    How Does Everyday Loans Work?

    Everyday Loans is a direct lender and doesn’t charge fees to process applications. 

    The lender determines whether to approve a loan application based on the status of the applicant and their ability to repay the amount– all Everyday Loans applicants are subject to an affordability check.

    How to Apply?

    To apply for a loan from Everyday Loans, you’ll need to go to the official website and fill out the application form.

    You’ll need to enter:

    • The amount you want to borrow, loan purpose, and loan term.
    • Personal details (name, surname, address, postcode marital status, residential location, residential status, phone number, and home number)
    • Employment status (details about your employment)
    • Financial information (details about your income and bank account number)

    Everyday Loans will complete an initial assessment and give you an estimated approval rating. You’ll then have to visit a local branch to complete the loan application.

    Worth noting: If you’re looking for a lender similar lender whose application process is entirely online, check out Koyo Loans and Mr Lender.

    What Are the Eligibility Requirements?

    Under Everyday Loans terms and conditions, the lender offers loans to people who are

    • 18 years or older
    • UK residents

    As you can see from the list, Everyday Loans has very low eligibility requirements, making it one of the most accessible direct lenders out there.

    How Does the Repayment Work?

    If an applicant fails to repay their loan in full or on time, Everyday Loans will share that information with credit reference and fraud prevention agencies that will record the outstanding debt. The lender will also report the guarantor (if there is one) in case of late payment.

    Main Features

    Here’s everything you need to know about Everyday Loans.

    Less Than Perfect Credit Score

    Everyday Loans offers loans to anyone that meets its eligibility requirements and can prove they can repay the full amount. Our Everyday Loan review showed that this includes both people with bad credit scores and individuals who have little or no credit history (younger applicants).

    Representative APR

    The representative APR is 99.9% and the maximum Everyday Loans APR is 299.8% on all types of loans that it provides. The APR is determined based on the borrower’s personal circumstances, credit score, and affordability assessment.

    Everyday Loan interest rates stand at 71.3%.

    Soft Check

    When Everyday Loans employees process applications, they only conduct soft credit checks, meaning your credit score won’t plummet if Everyday Loans declined your application.

    Top Up

    Unlike most lenders (both short- and long-term), Everyday Loans allows customers to request a top up. You will have to fill out an online form and the lender will only agree to increase the loan amount if it determines that you can repay it in full and on time.

    Fast Application Assessment

    An Everyday Loan is a convenient option for those that don’t want to wait for hours or days on a lender to make a decision. This lender lets potential borrowers know whether they can take out the loan amount they need in minutes– after they complete the online part of the application process.

    Tailored Local Lending

    Although the application process starts online, approved applicants have to pop into their local branch to finish the application process and take out their loan.


    Your Everyday Loans for a flexible monthly payment depends on your circumstances, affordability assessment, credit score, loan amount, and loan term, among other things.

    If you’re borrowing £3,000 and choose to repay it in 24 months, you’d pay a representative interest rate of 71.3% (fixed) which works out to £237.75 per month and total interest of £2,706 for a total repayable amount of £5,706.

    Customer Support

    Everyday Loans does not have an online customer support team, a contact centre, or a live chat feature. Existing and potential borrowers that need assistance or are looking for information will have to visit an Everyday Loans branch. 

    If you want to deal with a lender that has phone support and a live chat feature, consider LikelyLoans.

    Customer Success

    The company has an excellent rating of 4.5 on Trustpilot. 

    Everyday Loans reviews say the staff and employees are friendly, helpful, and police and most were satisfied with the loan amount and the Everyday Loans payout time. Some complained that their application had a good approval rate online but was later rejected when they visited their local branch.

    Bottom Line

    Everyday Loans is a great option for people with low credit scores or little to no credit history. The lender offers different types of unsecured loans for up to 5 years, doesn’t rely on hard checks (to avoid hurting applicants’ credit scores), and doesn’t charge any extra fees.


    Can you pay off an everyday loan early?

    Everyday Loans does not state whether they allow early repayment. The lender should not be able to charge you an early payment fee unless it’s included in the contract.

    If you want a lender that allows early repayments at no fees, try Loans 2 Go.

    Do Everyday Loans require guarantors?

    The lender does not require guarantors but allows them.

    Who is Everyday Loans owned by?

    Everyday Loans is owned by Everyday Loans Holdings Limited.

    Are Everyday Loans legit?

    Our Everyday Loans review shows that Everyday Loans is a trading style of Everyday Lending Limited, which is regulated and authorised by the Financial Conduct Authority.

    My name is Marija, and I'm a financial writer at DontDisappointMe. Although finance might not be everyone's cup of tea, my 10+ years of working in one of the biggest banks in my country, and my interest in extensive research on everything finance/investment-related, have made me somewhat of an expert in the field (if I do say so myself). No longer having the passion to work in a corporate setting, I decided that I couldn't let all of this knowledge go to waste so I started writing. And, here I am! Today I try to share my knowledge with my audience in the hopes of making this topic as simple and interesting as possible. In my leisure time, I like spending time with my family and travelling to new locations.