£500 Loan
£100 to £5,000 paid out same day!*
Loans Paid Same Day- Bad Credit Accepted
- Instant Decisions
- Borrow up to £5,000
Loans Paid Same DayCould a £500 loan help solve your financial difficulties? Wage Day Advance is here to provide quick and easy access to the funds you need when you need them most.
At Wage Day Advance, we understand that when someone needs to borrow a small amount of money, it’s often due to an emergency or an unexpected expense that has arisen out of the blue. Waiting until payday just isn’t an option. But don’t worry – you’re not alone. Many people across the UK find themselves in a similar situation every day, and you can rest assured that help is available.
Our £500 loan service is one of our most popular options. This amount is generally sufficient to cover many of the common needs our applicants mention. With relatively low interest on a smaller sum, £500 loans can be an attractive choice. Approval is often easier too, given the modest amount and the fact that it is typically borrowed over a short term.
Below, we’ll outline some of the key reasons why Wage Day Advance should be your obvious choice when borrowing 500 pounds until payday.
How much would you like to borrow?
Same Day Acceptance, Same Day Transfers
What truly sets us apart from the competition is the simplicity and efficiency of our loan application process. Our streamlined, one-step form is thoughtfully designed with the applicant in mind, allowing most applicants to complete it in under two minutes.
Once you submit your application, our brokerage system will work to match you with a lender that meets your requirements. This process is fully automated and typically takes around 90 seconds. You’ll receive an immediate on-screen notification with the outcome of your application. From there, you can review the terms and choose to accept or decline the agreement.
Money Sent Same Day
If you decide to accept the loan terms, the lender we’ve matched you with will transfer the funds to the same bank account you provided during the application process. Transfers are typically completed on the same business day, Monday to Friday, during business hours. However, if you apply in the evening or over the weekend, the funds may not be transferred until the following business day. Please keep this in mind. The same goes for bank / public holidays too.
*Your specific bank may also have their own processing times too and may not process incoming transactions from different banks until the next day.
We’re a Small Amount Lending Specialist
At Wage Day Advance, most of our loans are typically under £1,000 and are repaid within six months. While we do offer larger loans and longer terms, we believe that smaller amounts over shorter periods best serve our customers’ needs. Additionally, we prefer to partner with UK direct lenders who align with our values and specialise in lending small amounts to those who need it most.
Reasons to Use Wage Day Advance
There are many reasons to choose Wage Day Advance for your £500 loan. Below, we’ll highlight some of what we consider to be the key features of our service and explain why we believe we are the best choice for your borrowing needs.
- Same day loans from £100 – £5000.
- Flexible repayment terms from 1 month to 36 months.
- Quick and easy, 2 minute application.
- Poor and bad credit accepted.
- 24/7/365 online service.
- No additional paperwork or intrusive phone calls.
- No hidden fees or charges.
- Instant decision, high approval rate.
- Secure application with an established company.
Loan Terms and Amounts
Our loan terms are designed to accommodate a wide range of needs. We offer flexible options from as short as 1 month to as long as 36 months (3 years). However, please note that the lender you are matched with may propose a different term based on your personal financial situation and affordability. Once you select a loan term, it will remain fixed for the entire duration of the loan. So make sure you choose a term that suits you both in the short term but factors in a change of financial situation. Even if you’re only borrowing a relatively small amount such as £500.
As mentioned above, we offer loans ranging from £100 to £5,000 for any purpose. However, not all applicants may qualify for the maximum amount due to credit history or affordability considerations. If the lender may offers a lower amount than requested, you will have the option to accept or decline this offer. Please be aware that larger loan amounts will incur higher interest rates and a greater total repayment amount.
We Make Borrowing £500 Easy
What keeps our customers returning to Wage Day Advance is our streamlined and user-friendly process. While our high acceptance and approval rates, along with our willingness to assist those with bad credit, are certainly appealing, it’s the simplicity and efficiency of our service that customers find most valuable. Our top priority is ensuring customer satisfaction, and we achieve this by not only connecting you with a lender who can provide your £500 loan but also by creating a simple application process and providing ongoing support.
To accomplish this, our application form is designed to be as straightforward as possible. We only ask for basic personal information to assess your eligibility, along with a few brief questions about your income and amounts. Additionally, we require your bank details to facilitate the transfer of funds. Once you’ve entered this information, simply hit submit, relax, and await a decision.
If accepted, you can then transfer the funds to your designated bank account at the click of the button. The process could not be easier!
A Decision in Under 2 Minutes
Submitting your application sends your details to our network of UK-based direct lenders. Our system then quickly matches you with a lender who can provide the requested amount over your chosen term. This process typically takes less than 2 minutes. We strive to connect you with a lender who best meets your needs and preferences.
If you choose to accept the loan offer presented to you, the lender will make every effort to transfer the funds directly to the bank account you specified in your application. To facilitate a seamless transaction, please ensure that the account details you provided are accurate. This will help avoid any delays or issues with the transfer of funds. It’s important to verify your account information to ensure that the money reaches you promptly and without complications.
Borrowing with Bad Credit
Our lending partners are dedicated to assisting individuals with poor credit histories whenever possible. As a result, they prioritise affordability over credit reports or scores. Even if your credit history is less than perfect, having a stable and regular income that allows you to comfortably manage a loan, after accounting for your other financial commitments, significantly improves your chances of approval. By focusing on your ability to repay rather than solely on past credit issues, our partners aim to provide financial support to those who need it most.
As facilitators of small loans, such as £500, we recognise that many of our applicants may not have the strongest credit scores. We understand that it is easy to fall into debt and that a few months of challenging circumstances can significantly impact your credit report. At Wage Day Advance, we do not want past credit difficulties to work against you. Our priority is to provide support regardless of your credit history. We simply ask that you be transparent and honest in your application. In return, we will make every effort to connect you with a lender who can accommodate your loan needs and help you move forward financially.
Simple Repayment Terms
At Wage Day Advance, we partner exclusively with lenders who practice responsible lending and adhere to the FCA’s framework for treating customers fairly. This commitment ensures that our lenders will only offer loans that they believe you can comfortably afford to repay. They will not use confusing terminology or impose hidden fees and charges.
The terms of your agreed loan will be presented to you clearly and comprehensively. You will be provided with a detailed breakdown of your repayments, including the total amount due, the repayment schedule, and information on where to send the repayments to. Additionally, you will have a clear view of how much of your repayments are allocated to interest and how much is applied towards reducing the loan balance amount.
We offer flexible repayment terms ranging from 1 month to 36 months.
Why Use WDA?
How much do you offer?
£100 - £5,000
Quick application.
Over how long?
1 - 36 months
Flexible repayments.
Bad credit accepted?
Yes
We cater for all.
How do I get a loan?
Apply Online
Secure application.
Representative APR
79.5% (variable)
No obligation quote.
£500 Loan FAQs
Q: Is there any paperwork to fill in during the application process or once I’m accepted?
No, we offer a 100% online service. Our application is web based and you will receive confirmation of acceptance on screen.
Q: Will there be a formal (hard) credit search, and will a record of the search remain on my credit profile?
No, our lending partners only perform what is known as a “soft” search which is more to determine you are who you say you are and that the loan is affordable to you.
Q: I might want to borrow more than £500, is that possible?
Yes, we offer loans from £100 – £5,000. The amount our lending partners will be willing to offer will be primarily determined by affordability factors i.e. that you have enough money coming in to service the loan.
Q: How will I know when to pay the loan back and what will the repayments be?
On the final step of the application process, you will be given the details of your lender along with all the necessary information required to make your monthly repayments. There will also be a breakdown of the interest rate and term.
Q: Do you cater for bad credit applicants?
Yes, our lenders focus on affordability over historic credit records and current scoring. We specialise in providing loans for those with poor credit.
How to Improve Your Acceptance Chances
There are several steps you can take to improve your chances of being accepted a loan. While these tips are not specific to Wage Day Advance and our product offerings, they can help improve your overall credit score and likelihood of acceptance. Even if you’re not seeking a loan now, following these recommendations will benefit you when you do need to apply for credit in the future.
- Maintain an Income: For smaller loans, such as those around £500, lenders often prioritise affordability over credit reports and scores. Demonstrating a stable monthly income can significantly improve your application, as it shows that you have a reliable source of income to cover your repayments.
- Electoral Register Presence: Registering to vote places you on the electoral register. Lenders frequently use this register to verify your identity and confirm that you live at the address provided in your application. Being on the register can significantly strengthen your application. It can also provide an immediate boost to your credit score.
- Close Old Accounts: Having multiple active bank accounts can negatively impact your credit score and reduce your chances of loan approval. To improve your chances, close any accounts you no longer use and ensure that all past loan or credit agreements are fully settled.
- Reduce/Consolidate Existing Debt: Reducing debt can be challenging, but consolidating existing debts may significantly boost your credit score. Lenders prefer fewer open accounts and manageable debt. By consolidating your debts into a single, lower payment and closing unused accounts, you can often achieve an immediate improvement on your score.
- Avoid Missed/Late Payments: Late or missed payments can significantly damage your credit record. If you’re unable to make a payment, it’s important to communicate this with your lender and arrange an alternative plan to prevent a negative mark on your report. Your repayment history and affordability are key factors that lenders consider in their decision making process.
- Monitor Your Credit Report: Many people only check their credit report prior to applying for a loan or credit card. However, it’s highly important to monitor it regularly to catch any inaccuracies in your personal information or repayment records. Wrongly reported information can have a drastically negative impact on your score. Regular checks can also help you identify potential identity theft early.
Our Eligibility Requirements
We understand that time is of the essence, which is why we strive to make the entire application process as straightforward as possible. Below you will find our general eligibility requirements, which apply to all our products and are not limited to our £500 loan service.
To apply for a loan, you must: –
- Be at least 18 years of age.
- Permanently reside in the United Kingdom.
- Have a regular source of income (this can come from pensions, benefits and benefits).
- Have a UK address and phone number.
- Have a UK bank account that your income is paid into.
If you meet all the above requirements, we look forward to welcoming you as a customer of Wage Day Advance and we will endeavour to have your funds sent directly to your bank account on the same day you apply.
