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Which payday loan is best for
people with bad credit?

Which payday loan is best for people with bad credit?

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How you can find the cheapest 300 loans in the UK

300 pounds may not seem like a lot of money but it can sometimes be a life saver to someone who urgently needs it. To a retired individual who needs to cover emergency medical bills or to a single mom who needs to get her broken car fixed right away so she can drive her kids to school and purchase groceries, having an extra 300 pounds can mean a lot.

300 loans are legit credit products in the UK that you can turn to when you are looking to borrow 300 pounds from a reputable lending company. They provide quick and seamless financing to different kinds of individuals and approved borrowers can normally enjoy same day funding from numerous online lenders.

While there are certainly plenty more great benefits and features that you can expect to enjoy from 300 loans, the interest rates for the type of loans tend to be higher than majority of the other available options. But this doesn’t automatically mean that you won’t be able find an affordable deal that provides competitively low rates.

why choose 300 loans

You can successfully find the cheapest 300 loans in the UK with the help of the tips and advices that we will show you below.

Identifying the most affordable costs

The first thing that you need to bear in mind is that the interest rates or APRs (Or Annual Percentage Rate which tells the overall cost of the loan) for 300 loans will vary from one offer to the next and this will depend entirely on the lenders providing them. With that being said, enjoying the cheapest loan deal will involve heavily on finding the lender that provides the lowest cost for their 300 loans and financing services.

When you compare different lenders and their respective offers, try to focus your attention on these key points:

  1. Interest Rates and Fees – Obviously, you want to choose the lowest interest rate possible but you might also want to keep an eye on the other fees that you need to cover. A cheap interest rate can suddenly become expensive if it is attached with large fees. The best thing would be to use a loan calculator so you will know exactly how much the loan deal will cost you given its amount, payment terms, interest rate, and its associated fees. Normally, lenders allow users to access their own website loan calculators for free and you might want to take advantage of this tool to help you land the best deal for the best price.


  1. Credit score – Majority of 300 loans are available to people with bad credit and credit rating is normally not an important factor in getting approved. But there are some 300 loan options that do consider credit rating as a key qualification and normally, the higher your credit score the lower the interest rate of your loan agreement will be.


  1. Payment term – Generally speaking, the longer the payment term, the more expensive it would for you in the end as it would entail covering numerous interest rate payments. With that being said, choose the shortest payment term available so you can lessen the cost of your loan. Bear in mind however, that when you shorten the term, you will then have to cover fewer but bigger payments than if it was spread in a longer period of time and this could potentially handcuff your financial capacity to cover other essential cost and expenses like rent, food, etc. With that being said, it might be best to opt with the shortest payment term that you can genuinely afford to maintain based on your current monthly earnings and outgoings.

Comparing the available 300 loans options

Mini loans like 300 loans are normally brought about by payday loans but because of how UK’s lending industry has become extremely competitive in recent years, there are now lenders who provide 300 personal loans or instalment loans. The loans are different from payday loans in a way that they provide longer payment terms, generally 3 months, with fixed monthly instalments. So if you borrow 300 pounds for instance, the lender may allow you to pay 100 pounds plus interest rate ever month for 3 months to clear your debt.

Payday loans on the other hand, will generally require their borrowers to pay back the money that they borrowed within 30 days or their next payday, as the name suggests. You will also need to pay the loan in one single lump sum plus interest rates. So if you borrowed 300 pounds with a 50% interest rate for instance, you may need to pay the lender 450 pounds by the end of the month.

Instalment type of 300 loans certainly sound like the better option because of its more flexible payment terms but you need to know that having a solid credit rating is important in taking them out while payday loans normally do not require their borrowers to have a good credit rating. And just like other types of personal loans, the higher your credit score, the more affordable the interest rate will be when it comes to 300 instalment loans.

Finding the right 300 loans lender

As mentioned earlier, the overall cost of 300 loans will vary from one lender to the next. So to find the cheapest loan deal available, you will need to find the right lender. There are generally two types of lenders in the UK:

  • Traditional Lenders like banks, credit unions, and mainstream brick and mortar lending institutions


  • Online lenders who specialize in different types of loans and financing solutions

If you want to obtain the cheapest 300 loans, online lenders might be your best bet. This is because there are more online lenders than banks and brick and mortar lending companies combined which means you have more options to choose from. And comparing your options and shopping around is also easy and often it takes just a simple search in Google to identify the lenders that provide the most affordable offers.

Online lenders also tend to have cheaper rates for the same type of loans that banks offer. Personal loans from online lenders for instance, often have lower rates than traditional personal loans offered by banks and credit unions. One reason for this is because online lenders have lower operating costs compared to banks as online companies have websites instead of physical offices and buildings and they also have fewer workers to pay as well.

why choose 300 loans


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See How Others on the Market Compare

Loan amount
£100 - £750
Loan term
1 - 35 Days
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Loan amount
£100 - £2,000
Loan term
3 Months Only
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Struggling Employees

Employees are the drivers of the global economy. They comprise a large percentage of the workforce, and the world will stop without them. If you’re going to analyze deeply, you’ll realize that all of us are employees. We are working for someone else – be it a boss, an organization, or a contractor. Employees are good demographic points because they tend to experience financial troubles more often. It could be that employees are also parents, or they need quick cash to survive until the next payday. In fact, the borrowing habits of employees empowered payday loans (that’s why they called ‘payday’). Employee-centric payday loans don’t have much difference from the cash advance programs of the past, though some lenders have made adjustments. Employee payday loans probably have a smaller interest rate stretched over a manageable repayment period. Lenders can also work hand in hand with employers to increase awareness for employees.

Freelancers on A Budget

The global freelancing community is starting to gain important traction this 2017. In fact, thousands of people are now resorting to freelancing because of the awaiting opportunities in the market. Freelancers are like hunters – they’re actively chasing big game, occasionally hitting and, oftentimes, failing. New payday lenders have understood the need for freelancer-specific loans, though only a few of them are following suit. Perhaps freelancing still needs to be recognized as a tangible income source in the payday lending arena. Another angle is the way people are tagging themselves as ‘freelancers’ even though they don’t have any jobs or income sources. This is why some lenders will look for additional income proofs whenever they encounter freelancers applying for payday loans. Nevertheless, we’re going to see lots of payday loans geared towards freelancers on a budget this year.

Startup Entrepreneurs

Being an entrepreneur today is no longer a side path – it’s necessary for the betterment of your life someday. Once you have a winning idea and transformed it into a plan, you can focus on acquiring capital. If your startup business is not that big, you can settle for a payday loan. Payday lenders can release your money in just minutes. They won’t care about your credit rating or the nature of your business (somehow). What they want to know is if you’re capable of repaying the loan within the agreed time frame. Once you got your payday loan, your business operation can be ignited and you’ll start raking profits in no time. Just remember to allow some of those profits towards your loan repayment. An unpaid payday loan can bring too much stress.


You may think that big-time investors are going after large, bank-issued loans. Well, you’re right. A stock investor, for example, needs big loans if he wants to participate in a growing market. The same can be said for antique collectors and coin enthusiasts. However, we can’t deny the fact that investors also start small. In this sense, small-time investors can use payday loans to fund their investments. Whether they make a killing or not, investors can see potential attention from new payday lending companies.

Once you understand all of these demographic points, you’ll know how lenders are adjusting their operations strategically. At one point, they may pursue better marketing efforts while compromising other areas. Despite this, it’s still important to find a lender that attains a great form of balance among all of these demographic areas.

5 most recent personal loan reviews

Review of H&T Finance

So friendly and so easy to be accepted. I needed a loan to help out a family member and I've been able to do so, so quickly. Daniel at H&T was so polite and helped me understand everything thoroughly.

Review posted by Aimee Walls, Carlisle

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Review of Post Office Money

Post Office, thank you so much! I will definitely be recommending you for your helpful and professional support, from receiving my completed application you were very quick in processing my application. I applied in one day and by the second had my loan. You gave clarity when needed and made me feel that I was not just a number. Thanks again.

Review posted by Lisa Davies, Sunderland

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Review of Street UK

My experience with this great team has been superb, I've had five star quality service since day one and my application processed rapidly, there is no messing about and they provide real fast and strong customer service which I am happy about, I know where to come next time, thanks for all your help.

Review posted by Joe Irving, Leeds

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