Instant £20 Loans - Borrow 20 pounds today

If you’re looking for a small amount of money to tide you through the month, a £20 loan could help. We work with direct lenders who can help you borrow £20 instantly - receive the money within 10 minutes² after approval.



Representative 49.9% APR

Representative example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. Rates from 45.3% APR to 1721% APR - your no-obligation quote and APR will be based on your personal circumstances. The minimum repayment period for any loan will be 90 days from the date the loan is issued. The maximum repayment period is 3 years.

We are not a lender but a licensed credit broker in the UK

With the cost of living in the UK rising, keeping on top of finances is becoming more and more difficult. At ThisLender, we know that some months can be more expensive than others, and when you find yourself out of pocket before payday, a small amount of cash can go a long way.

You might not be looking to borrow a large amount of money, and in this situation, a £20 loan probably comes to mind. However, online lenders don’t tend to offer loans for 20 pounds, so you’re better off applying for a £50 loan instead. With instant payouts, often within 10 minutes² after approval, 20 pound loan alternatives provide quick short-term relief, and can be used to cover day to day living expenses.

Whether you need to top up your electric or gas metre, pay for food bills or cover childcare expenses, borrowing £20 or more could help.

However, whenever you take out a loan, you stand the chance of getting into debt - which could impact your credit score and worsen your financial situation. So, before you decide to take out an instant £20 or £50 loan, you must explore all of your options.

To help you with this, we’ve created a guide with all the information you need to borrow small amounts of money responsibly.

What is an instant £20 loan?

An ‘instant loan’ is a type of personal loan that allows you to borrow a small amount of money quickly. It isn’t easy finding a £20 instant loan, typically the minimum amount of money you can borrow is £50.

Also referred to as a payday loan, payday loan, this type of finance helps you receive money on the same day, but features high interest rates as a result.

Getting a £20 loan instantly may not be possible, but a £50 loan is easy to apply for and receive. This is because the amount being borrowed is small and the loan agreement doesn’t require collateral. If approved, you could have 20 pounds + in your account within 10 minutes² after approval.

Apply for a 20 pound loan

Do £20 loans exist?

No, UK lenders don’t tend to offer loans for £20. But just because they don’t exist, it doesn’t mean you can’t borrow 20 pounds with an instant alternative. We have personal loan options that start at £50, so if you’re willing to increase the total borrowing amount, you could still access £20.

How do £20 loan alternatives work?

These small personal loans work by helping people borrow at least 20 pounds quickly for unplanned expenses. The money is deposited into the borrower’s account straight away, under the agreement that the money will be repaid with interest, either on the borrower’s next payday, or in weekly or monthly instalments over the loan term.

How much will a £20 loan+ cost?

It’s important to understand that you will need to pay back more than the £20+ borrowed. Whenever you take out a loan, you will be charged a percentage of interest - which will increase the total amount of money that needs to be repaid.

Loans for smaller amounts (such as £50 loans) usually come with higher interest rates. As well as this, some lenders also charge fees for their services, so you must work out all the costs involved before agreeing to borrow £50. If you don’t, you risk getting trapped in a cycle of debt that you can’t afford to pay off - a place no one wants to be!

What interest rates can I expect for a £20 loan alternative?

Before you take out the loan, you need to decide how much you would like to borrow. While you can’t access £20, you can get £50.

So, after you apply for the 50 pounds, the lender will quote you a certain amount of interest plus any additional charges - expressed as APR (Annual Percentage Rate - the rate of interest for borrowing spread over a year). This rate differs from lender to lender, and a number of factors influence what you get quoted.

  1. The amount of money you need to borrow: Small loans tend to have short borrowing periods, so higher interest rates are charged by lenders to recoup the costs of providing a loan for a short term.

  2. The lender’s additional fees: Some lenders charge fees for things like early repayment. Check your lender’s terms before agreeing to borrow.

  3. Your credit score and borrowing history: Unfortunately, if you’ve suffered bad credit in the past, the lender may charge higher interest rates to mitigate the risk of lending to you.

Get your loan quote today

Access from £50 to £5000

What are the benefits of instant £20 loan substitutes?

The biggest advantage of these loans is the speed at which they can be accessed. You can get a £20 loan substitute instantly - with money in your account in a matter of hours. The benefits of borrowing 50 pounds include:

  • Cover financial emergencies: Because these loans can be arranged quickly, they are the ideal solution for people who need money in a hurry.
  • Short repayment terms: No need to worry about paying the money over a lengthy period of time. You can repay the money on your next payday, or over a short term of 3 - 36 months.
  • Quick, online application: From start to finish, the process is quick and easy. The application process takes just 10 minutes, and if you decide that £50 isn’t enough, you can apply for £100 or more.
  • All credit scores considered: Unlike other financial products, online personal loans provide options for people with all types of credit. So, if you’ve suffered bad credit in the past, you could still be eligible to borrow £20 + with a payday loan for bad credit.

I need £20 now, what are my options?

We can’t stress enough how important it is to explore all other options available to you before deciding on a £20 loan. Despite providing instant relief, these small personal loans come with a number of risks that should be fully considered before applying.

As well as this, because the minimum amount you are able to apply for is £50, you will be borrowing more than you originally needed (which should be avoided if possible).

Options for people who need £20 can include borrowing money from friends and family, selling non-essential possessions or seeking other forms of low limit credit. Then, after exhausting all other avenues, you can reconsider applying to borrow £50 from a direct lender.

Important: Borrowing from friends and family, or selling unused items to raise money to cover an emergency expense can help avoid taking on unnecessary debt. Read our article on 10 ways to make cash fast.

How can I get a £20 loan instantly in the UK?

If you live in the UK, you can get a £20 loan alternative (such as a £50 loan) online, either directly from a lender, or through a broker like ThisLender. Lots of people seek out instant £20 loans from direct lenders to help keep the process simple. However, when you apply via a direct lender, you only receive one quote, and the only way to tell if the quote is competitive is to spend time researching other direct lenders’ offers.

Using a broker service eliminates this hassle. You make one free online application for £50, and we do the rest! Your application will be matched to the most appropriate lender for your needs and financial situation, and we are able to use our long-standing relationships with direct UK lenders to help you find a loan.

After we’ve done the groundwork, the process becomes similar to if you were to apply for a £20 loan through a direct lender. The lender will conduct the appropriate credit and affordability checks, and if approved for £50, you discuss the loan terms of agreement directly with your chosen provider. It couldn’t be more simple!

Apply for a £20 pound loan

Can I get a £20 instant loan if I have bad credit?

While you can’t get a £20 loan, you’ll be pleased to hear that you can apply for a £50 loan if you have bad credit. Your credit alone is not always a true reflection of your ability to make repayments, and we don’t believe that people should be punished for past financial misgivings.

Because of this, a number of the lenders we work with offer 20 pound instant loan alternatives to bad credit borrowers. While you will still have to undergo a credit check, lenders will also conduct other checks to get a better gauge of your affordability. These checks include:

  • Your income and expenditure
  • Proof of employment
  • Proof of regular salary payments
  • Proof of UK residency

Depending on the lender’s assessment of your application, you may be approved to borrow £20+ under the condition you are able to provide a guarantor. If this happens, you will need to find a friend or family member who has good credit and is willing to co-sign your loan agreement.

Your guarantor essentially becomes legally liable for your debt repayments if you default on the loan. These loans are called guarantor loans, and they should be researched carefully before being undertaken.

Are credit checks required for £20 loan solutions?

Yes, credit checks are required for any type of consumer borrowing, including alternatives for £20 loans. Instant access is still viable, as the credit check doesn’t take very long for the lender to conduct.

Essentially, the credit check forms an important part of the lender’s due diligence, and it is a UK requirement set out by the Financial Conduct Authority (FCA). If you find a lender who is happy to skip this step, you should check their legitimacy using the FCA’s Financial Services Register..

You shouldn’t be worried about undergoing a credit check. It’s in your best interest to have your credit checked, and even if you have adverse credit, you can still receive upwards of £20.

Get your loan quote today

Access from £50 to £5000

Why choose ThisLender for a £20 loan instant alternative?

When you search for a £20 payday loan, you’ll quickly realise there aren’t many providers willing to offer loans under £100. At ThisLender, we offer £50 loans to customers, keeping the total amount you pay back at a low.

When seeking finance, you must choose your provider carefully. The only problem is that when you apply online, it can be difficult to know who to trust.

Having worked in the consumer credit sector for several years, the team at ThisLender has established relationships with trustworthy UK lenders, all of which are approved by the Financial Conduct Authority. When you choose ThisLender, you benefit from:

  • Free, no obligation quote: Our online application can be completed at no cost to you. Once we receive the application, you will receive an instant tailored quote from a suitable lender we work with. This quote is no obligation, so there’s no pressure to proceed with your loan if you change your mind.
  • Access more money if needed: We don’t just help to arrange 20 pound loan substitutes for £50, if you decide you need to borrow more, you can apply for any amount up to £5,000.
  • An online service you can trust: Alleviate the worry of borrowing money over the Internet. Our website uses encrypted technology to keep your data and personal details secure.
  • Flexible repayments: Find a repayment plan that suits your budget. The lenders we work with offer repayment terms from 3 - 36 months.

Where do I go for help if I’m in financial difficulty?

If you are having financial difficulties or need to speak to someone regarding your financial situation before applying for a loan you can get free and confidential advice from MoneyHelper (formerly The Money Advice Service), National Debtline or debt charity StepChange.

Get your free loan quote today

Access from £50 to £5,000

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Representative 49.9% APR

Representative example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. Rates from 45.3% APR to 1721% APR - your no-obligation quote and APR will be based on your personal circumstances. The minimum repayment period for any loan will be 90 days from the date the loan is issued. The maximum repayment period is 3 years.

We are not a lender but a licensed credit broker in the UK

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