Same Day Loans

Cara Bradley

Written by

Cara Bradley

6 min read

Updated: 15th December 2023


Same day loans can be a real lifesaver in the event of a financial emergency, such as an unexpected utility bill or vet's fees.

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Is it possible to get a same day loan?


While it’s possible to get a same day loan, it’s important to remember that they are not guaranteed.
If your loan application is approved, some of the lenders on our panel may be able to transfer your money to you on the same day. However, the time it takes to show as available in your bank account could depend on your bank’s policies and procedures.

What will increase my chances of getting a same day loan?


  • Before you apply for a same day loan, it’s useful to have some ID, proof of address, and wage slips to hand as, if you are approved by a lender, they may ask for some documentation.
  • Some lenders are able to send the money to your account relatively quickly, and most can transfer funds on the same day. Please bear in mind that in some cases, your money may be sent on the next working day.
  • Complete your application with care – typing quickly can lead to spelling errors or a mistyped address, which could affect the outcome of your application. The last thing you want is having to complete everything all over again.
  • Answer all questions as honestly as you can. The information you provide will help us find a loan to suit you.
  • Respond to the lender’s queries, such as a request for payslips, as soon as you can.

What are the benefits of same day loans?


Sometimes, life just doesn’t go according to plan.
We’ll set the scene…
It’s 8:30am on a Monday morning, and you’re due to start work in half an hour.
You’re currently slumped on the driveway, after five failed attempts to get the car started.
A call-out mechanic is standing over the bonnet, shaking his head.
The car makes one final spluttering sound before the engine completely cuts out.
“It’s going to be at least £500 to get this sorted,” the mechanic says, “and then you’ll have to blah blah blah, which will cost you another £500, and then…”
The overall cost of fixing the car makes you wince but you need to get to work so it’s your priority to get the car fixed as soon as possible.
It’s safe to say that many of us have been in this position with our car or another essential appliance.
If your savings won’t quite stretch, a same day loan could be a financial helping hand when you suddenly find yourself in urgent need of funds.

Who can apply for a same day loan?


To apply for a loan, you must:

  • Be aged 18 or over;
  • Be a UK resident with a UK address;
  • Have a UK-issued bank account with a valid debit card; and
  • Have a regular source of income paid directly into your bank account.

Other factors that lenders look at when considering you for a loan:

  • Your employment status and income. You may find that you have a higher chance of being matched to a lender if you are employed with a regular income, although it’s worth bearing in mind this doesn’t guarantee that you will be accepted.
  • Your credit score. Having a good credit score may improve your chance of approval.

Please note that the outcome of your application is based on your individual circumstances.

Viva Money will provide every effort to find you a loan. If we are not able to do this, we may transfer you directly to alternative firms and services, such as credit building tools, which may incur a monthly fee if you choose to use them. Of course, you are under no obligation to use them if they do not suit your needs.

Can I get a same day loan with bad credit?


We don’t believe that a person’s financial history should affect their future, which is why we welcome all credit scores to search for a loan. You can do this here with no impact to your credit rating.
Some of the lenders on our panel specialise in loans for those with bad credit, although it’s worth noting that if you are approved for a loan you may not be able to borrow as much money as you’d like, and you could be offered a higher interest rate than advertised.

I’m unemployed, can I still get a same day loan?


It’s unlikely that you will be approved for a loan if you are not in employment, although some lenders may consider long-term disability benefits as income.

How much money can I borrow?


Viva Money are a credit broker. We work with a range of trusted lenders who offer personal loans from £100 to £10,000, with terms between 3 and 60 months.

Is there anything I should know before applying for a same day loan?


We would urge anyone to think about the following before applying for a financial product:

  • Alternatives. Is there a chance you could save money over a few months rather than taking out a loan? Could a friend or family member lend you some cash instead? Does your employer offer a wage advance scheme?
  • Affordability. We understand that you need money quickly, but it’s important to be 100% certain that you can afford your monthly repayments, plus any additional fees you may be subject to – for instance, late repayment fees. If taking on the commitment of a loan is going to leave you in a difficult financial situation and cause you worry, then it isn’t worth it.
  • Possible risks. The risks of falling behind on or failing to make your repayments include additional fees and a decline in your credit rating.
  • Responsible borrowing. Never borrow more money than you actually need.

Can taking out a loan improve my credit rating?


This depends on how you manage your loan, if approved.
If you make your monthly repayments on time each month and clear the balance of your loan within the set term, you could see an improvement in your credit rating.
On the other hand, if you fall behind on or fail to make your repayments, you could find that your credit score drops.

What happens if I can’t make my monthly repayments?


We hope you never find yourself in that stressful situation, but if you do, please contact your lender as soon as you can. Try not to panic – while it’s frightening to feel out of control, there may be things your lender can do to help.

Sometimes, it just helps to hear some free, impartial advice, and that’s where sites such as Citizens Advice Bureau, StepChange, MoneyHelper, and National Debtline come in.

If you’re looking for some personalised recommendations on the next steps to take, StepChange offer a free, online Money Health Check, as well as support on various topics such as budgeting and debt management.