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Published 12 July 2023
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Everyday Loans Review: Bad Credit Loans Pros, Cons & Features

Everyday Loans can cater to people who may struggle to get credit from a standard lender. To get one of their personal loans, you need to have a meeting in one of the lender’s branches first. Find out the main features of a loan from Everyday Loans, as well some of its pros and cons.

Many or all of the products and brands we promote and feature including our ‘Partner Spotlights’ are from our partners who compensate us. However, this does not influence our editorial opinion found in articles, reviews and our ‘Best’ tables. Our opinion is our own. Read more on our methodology here.

Everyday Loans: At a glance

Warning: The Financial Conduct Authority (FCA) is warning there is an Everyday Loans ‘clone firm’, where fraudsters use the details of the genuine, authorised company to mislead customers. If you are not sure you’re dealing with the genuine company, its official website and contact details can be found at 

Everyday Loans is a direct lender that can offer loans of £1,000 up to £15,000. It also considers applicants who may have a bad or poor credit score, although it will assess each application on a case-by-case basis.

To complete your loan application you have to visit a branch. While this face-to-face interaction can be a welcome feature for some, it‘s less helpful if you can’t easily get to one of the lender’s branches. And because you need an appointment, it can also take longer than other lenders to get the money in your account.

As with any loan, it’s sensible to only borrow what you need and pay it back as quickly as possible based on what you can comfortably afford to repay each month. Before applying for a bad credit loan, it’s important you consider your alternatives and whether you could keep making the payments if an unexpectedly high bill landed on your doorstep or you lost your job, for example.

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Everyday Personal Loan

3.5 NerdWallet's ratings

18 months to 5 years

£1,000 to £15,000



Representative APR 99.9%. Based on a loan of £3,000 over 24 months at an interest rate of 71.3% p.a. (fixed). Monthly repayments of £237.75. Total amount payable £5,706. Maximum APR 299.8%

  • Must be aged 18 or over
  • Must be a UK resident
  • Must earn a minimum of £10,000 per year

Nerdwallet has partnered with Monevo. Check your eligibility with this lender and from a range of loan providers without affecting your credit score.

Late repayments can cause you serious money problems. Consolidating multiple debts into one loan can extend the term of your borrowing and increase your cost of borrowing. 

Important information: Neither the review or star ratings considered lending rates, and therefore does not reflect how much it costs to borrow from these lenders. Loans for bad credit consumers can come with very high interest rates. Always check and compare a lender’s rates against others on the market when considering a bad credit loan. The rate you are offered will be dependent on your circumstances, loan amount and term, and may differ from the advertised rate. If you have poor credit, only borrow if it is necessary and you can comfortably afford repayments.

Everyday Loans pros & cons


  • You can choose your payment date when you apply for a loan, and change this date during the loan term.
  • You can apply for a joint loan.


  • Bad credit loans come with higher interest rates than standard loans because they’re seen as riskier by lenders.
  • It could take longer to get funds in your account than with other lenders.
  • You need to pay interest charges to settle your loan early.
  • You need to visit a branch to complete your loan application, so it’s only an option if you can get to a branch.

The pros and cons featured here are chosen by us based on a combination of our expert opinions from our research of the bad credit loans market and an exclusive survey of UK consumers conducted on behalf of NerdWallet UK in February 2023 to identify the features of bad credit loans that people feel are most important. They are not the only product features and restrictions that you should consider. You should align them to your personal circumstances. Information was correct at the time of publication but may have changed since. Rates have NOT been considered in our review of this product.

Everyday Loans overview

Everyday Loans is the trading name of Everyday Lending Limited, a direct lender founded in 2006 that is part of the Non Standard Finance Group. It has more than 70 branches across the UK, and unlike many other lenders, you’ll need to visit a branch to complete your loan application. 

Everyday Loans says it can offer loans to people with lower credit scores who may struggle to get accepted elsewhere. You can use these loans for a range of purposes, whether that’s replacing your car, refurbishing your home, or covering an emergency expense. 

Amount borrowable£1,000 to £15,000
Term length18 months to five years
Time to receive fundsAfter meeting in branch (average time three days)
Need to have an account with the providerNo
Customer supportPhone, email, in a branch
Trustpilot rating4.4 (21 April 2023)

Before pressing ahead with an application, we always suggest using a loans eligibility service to conduct a soft credit search across multiple lenders that gives your likelihood of a successful application against several different loans, without affecting your credit score. But do check the details of the credit reference agency you use to make sure it only uses soft searches and how many lenders it checks.

Applying for a loan you are unlikely to get will probably result in an unsuccessful application which will have a negative effect on your credit score.

Where Everyday Loans stand out

It offers in-branch support

Except for high-street banks, many lenders don’t have branches you can visit but Everyday Loans does. It has branches in major cities across the country where you can speak to someone face to face. This more personal touch may sound appealing, but only if you can get to one of its branches easily.

It provides joint loans

Everyday Loans offers joint loans, which not all lenders do. This means you can apply for a loan with your partner, for example, so you would be equally responsible for paying off the debt. As it is a joint application, Everyday Loans will consider both your credit histories and financial circumstances when deciding whether to offer a loan.

Remember, if you take out a joint loan with someone, your credit files will be linked and you’ll both be jointly responsible for paying back the loan. Any missed payments will affect both of your credit scores 

You could borrow up to £15,000

You may be able to get a loan of up to £15,000 from Everyday Loans, depending on your individual circumstances. This is more than some other lenders offer to people with less-than-perfect credit histories.

Where Everyday Loans fall short

It charges higher interest rates 

Like most lenders, it charges higher interest rates when lending to people with poor or bad credit scores. Bad credit loans come with higher interest rates than standard loans because they’re seen as riskier by lenders.

You need to visit a branch to complete your application

With many online-only lenders, you can fill in your application online or via the post and get your funds relatively quickly. But with Everyday Loans, you need to visit a branch to complete your application and receive the money in your account which means the process of getting a loan can take longer. It also means that Everyday Loans may only be worth considering if you can get to a branch easily.

It charges interest to settle your loan early

If you want to pay off your loan in full before the end of the term, Everyday Loans may apply 30 days’ interest charges. This is typical of other lenders, but there are some lenders that won’t apply these charges at all.

What type of loans does Everyday Loans offer?

Bad credit loans

This lender may be able to offer you a loan if you don’t have the best credit history but, as with other lenders, Everyday Loans will run credit and affordability checks to make sure you can make the repayments.

For example, Everyday Loans may consider your loan application if you have a county court judgment (CCJ), but IVA’s and bankcrupty statuses are excluded. However, in all cases it will look at the rest of your credit history and your financial situation to decide whether to offer you a loan.

If you have a patchy credit history, you’re likely to be charged a higher interest rate than someone with a better credit score. Consider carefully whether a loan is right for you or if it will be better to try to improve your credit score first.

It’s important not to apply for loans you are unlikely to get because unsuccessful applications will harm your credit rating, making it harder to borrow money in the future.

And, even if you are eligible for a loan, it’s still worth considering whether borrowing money is the best option for you. Another course of action, such as improving your credit score or seeking professional advice, could be more suitable.

Joint loans

You can apply for a joint loan with a partner or family member from Everyday Loans. 

When you apply for a joint loan, Everyday Loans will assess the credit histories and finances of you and the person you applied with to make sure you can both afford the loan.

If approved for a joint loan, your credit file will be linked to the other applicant’s credit file and you will both be jointly responsible for making the loan repayments on time.

Am I eligible for a loan from Everyday Loans?

To qualify for a loan from Everyday Loans, you will need to meet the following eligibility criteria as a minimum:

Meeting these requirements isn’t a guarantee that you will receive a loan from Everyday Loans.

The lender will assess applications individually, looking at your credit history and financial circumstances. This means your final eligibility will be subject to a credit check and affordability checks by Everyday Loans.

Everyday Loans features review

Everyday Loans offers many of the standard features you would expect to get from a personal loan.

Making payments

When you apply for a loan from Everyday Loans, you can choose the date that your payments go out. This was identified as an important feature by 48% of respondents to our NerdWallet survey.

Everyday Loans also allow you to change your payment date if your original choice isn’t as convenient for you. Make sure you check if changing your payment date could affect the cost of your repayments, the total amount you repay and how much interest is charged depending on how it is calculated for your loan.


Everyday Loans doesn’t charge any fees if you want to make an additional payment on your loan. This means you can make an overpayment if you have some spare money, which could help you pay less interest on your loan overall. Before making overpayments always check your loan terms to see if there are limits on the amount you can pay.

Paying off a loan early

Like several other lenders, Everyday Loans may apply interest charges if you want to pay off your loan in full before the end of the term.

To pay off your loan early, you’ll need to get a settlement figure from the lender. This will be valid for 28 days so, if you decide to clear your debt, you’ll need to pay this amount within the timeframe.

Everyday Loans will include 30 days’ worth of interest charges in this settlement figure.

» MORE: Paying off a loan early

Additional borrowing

If you already have a loan from Everyday Loans, it may be possible to borrow more. This will depend on your individual situation at the time as the lender will conduct the same credit and affordability checks it did for your first loan. You will also need to have made a certain number of repayments on your existing loan.

You may wish to clear the debt of your old loan with the new loan to keep to one monthly repayment but remember that if your new loan has a higher interest rate or you extend the term it will cost you more in the long term.

To apply to borrow more, you will need to say how much you want to borrow and what you need the money for. Everyday Loans can give you a conditional decision online and, as with your original loan, you will need to visit a branch to complete your application.

Customer support

The main way to get in touch with Everyday Loan is by phone. You can call your local Everyday Loans branch directly or ask the lender to call you back at a certain time. You can also email your local branch if you prefer.

Everyday Loans is one of the few lenders, excluding high street banks, that has branches you can visit. While some people may like this face-to-face service, it can be restrictive as you need to head into a branch to complete your application and get a loan.

Customer ratings

On Trustpilot, Everyday Loans has a 4.4-star rating based on over 5,500 reviews. 

This information is correct as of 21 April 2023.

How can I apply for a loan from Everyday Loans?

To apply for a loan from Everyday Loans, you first need to fill out an online form. This will ask for some basic information about you and your finances.

After you fill in the form, your application will be reviewed and, if successful, you will receive a conditional loan offer. This process won’t involve a hard credit check, so won’t affect your score.

Once you have a conditional offer, you will need to visit an Everyday Loans branch to complete your application.

At the meeting, you will talk about your loan application and your financial situation. Everyday Loans says it shouldn’t take longer than 45 minutes. 

Assuming everything is in order, you can then finalise your application. At this point, the lender will run a hard credit check. This will be recorded on your credit file.

Once the terms of the loan are agreed upon and you’ve signed the relevant paperwork, you should receive the money in your account soon afterwards.

What information do I need?

When you apply for a loan from Everyday Loans, you will need to provide the lender with some personal details and information about your finances, including your income. This will be done online.

If your application is conditionally approved, you will need to visit an Everyday Loans branch to complete the process. You need to bring certain documents to this meeting, including:

  • proof of ID, such as a valid passport or driving licence
  • proof of address, such as a recent utility bill or bank statement
  • proof of income and outgoings, such as a recent payslip, bank statements, or a self-assessment return

How long does it take to apply?

It only takes a few minutes to fill in the initial online application form. But because you need to make an appointment at an Everyday Loans branch to complete your application, the next stage could take longer. 

Everyday Loans told us the average time between enquiring about a loan and getting the funds in your account is three days, but it may be possible to get an appointment in a branch on the same day that you apply. It will depend on the availability of your nearest branch and how soon you can make an appointment.

The lender says appointments should take no longer than 45 minutes. If your loan application is approved, the money shouldn’t take long to appear in your account.

Help if you’re struggling with debt

Late repayments can cause you serious money problems. Consolidating multiple debts into one loan can extend the term of your borrowing and increase your cost of borrowing 

If you are struggling with debt, you can seek advice from a debt advice service, such as:

Everyday Loans frequently asked questions

Is Everyday Loans a payday lender?

Everyday Loans is a direct lender that offers unsecured loans, but it is not a payday lender. Payday loans are typically repaid over a shorter period of time than a loan from Everyday Loans, where the term of the loan ranges from 12 to 60 months.

Is Everyday Loans safe?

Everyday Loans is a trading name of Everyday Lending, and at the time of writing is authorised and regulated by the Financial Conduct Authority (FCA). It is also a member of the Finance and Leasing Association (FLA).

Review methodology

At NerdWallet UK, we base our reviews and our ‘Best’ pages on the results of surveys we undertook about what was important to people who use these products. This allows us to look at products impartially of any commercial arrangements we have and fairly rate the products on the same set of criteria.

Best means our ‘Best’ and is based only on what products we have aligned to our surveys, which form the basis of our reviews and ratings. This means that there will be other products on the market that we have not included in our ‘Best’ pages. Best does not mean it’s best for you, nor does it mean the ‘cheapest’.

Our reviews may display lenders’ rates. This additional information has not been included in our evaluations but is still very important when choosing a product. Rates offered can depend on circumstances, amount and term. Always check details before proceeding with any financial product.

Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible, but there will be products not included on the market. The review is our opinion, but it does not constitute advice, recommendation or suitability for your financial circumstances.

You can view our full review methodology here.

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