Bank Loan

Trying to get a bank loan is not always the nicest experience. Meeting, waiting and justifying your loan to a bank manager isn't a fun or relaxing thing to do. If you need a small and fast loan, say under £1000, why not use Wonga.com instead? Wonga is a new way to borrow money until payday, without dealing with a bank.

If you're not a bank loan - what are you?

Wonga isn't a bank. We're a ground-breaking online lender. What's the difference? Well we don't have bank managers for a start! In fact, you don't even have to tell us what the loan’s for – that is your business. Perhaps you need a little extra money to finish home renovations and don’t want to wait for payday, or there’s an unforeseen cash emergency. It could be anything - anytime you can't wait for some cash that you know is coming your way. Providing you can pay it back within 30 days we're happy!

Essentially we're a fast loan that's unlike any other on the market. We're cheaper than payday loan companies and we're also the UK's fastest lender. Put simply, the interest rate is £1 per £100 per day. Select how much you would like to borrow and the date you promise to pay it back and Wonga calculates exactly how much the repayment will be before you apply.

Bank loans: are they all they're cracked up to be?

The good thing about bank loans is that they usually offer low interest rates. But not everyone can get one and the catch is that they'll also want you to take out large amounts of cash over a long period of time. This is so they make enough interest from you. Some banks even penalise you for paying a loan off early too.

But what about those times you need to make some purchases or meet expenses of a few hundred pounds, which you haven't budgeted for? That's when a fast loan with Wonga is a good idea. Unlike a bank loan, we let you borrow as little as you like – between £50 and £750 depending on your trust rating.

Wonga is an alternative to a bank loan

Borrow what you need - not what the bank wants you to borrow – and repay it quickly. When you need a small loan for a short period of time, it really isn't worth going to a bank when you can get an online loan from Wonga. When it's a case of having too much month at the end of your money, don’t worry - Wonga it!