Payday loans are designed to provide the cash you need when faced with a difficult financial situation. Payday loans are designed for short-term borrowing and they can be a more expensive way to borrow when compared to traditional loans from banks, credit cards and overdrafts.

If you are considering applying for a payday loan there are several factors which will be important, such as the interest rate and any applicable fees or charges associated with the loan. However, it may be possible to minimise the cost of borrowing by researching rather than looking for no fee payday loan that doesn’t exist. All lenders will charge interest on the loan, however, the fees charged for processing the loan or missing a loan payment can vary.

If you are searching for a no fee payday loan, it is possible to view the full terms and conditions including fees and additional charges on the various direct lenders websites. Alternatively, it is also possible to use the services of a broker to help you find and compare lenders when looking for no fee payday loans.

Do loan brokers charge a fee?

Brokers are available to help borrowers find loans, with some including payday loans within their panel of lenders.  A no fee payday broker will not charge upfront fees, membership subscriptions or additional fees relating to finding you a loan.

Brokers often partner with a range of lenders, to help borrowers find the most competitive payday loans or short-term loans. A trustworthy and reputable broker will want their services to be as transparent as possible, so there will be no hidden fees or charges.

The aim of a broker is to help borrowers find the loan they need, by partnering with a wide variety of lenders with varying eligibility criteria and acceptance rates. When you apply for a loan through a broker’s website, your details are passed across to lenders on their panel which they think may consider your application.

Each lender completes their affordability checks and the various lenders will consider a range of credit histories, including applications from those with a poor credit score. If a lender lets the broker know that you are likely to be eligible for a loan, the broker will redirect you to their website to finalise your application.

When you borrow from a lender via a broker, the broker receives a fee from the lender in return for referring your application to them. There are many factors which influence how much this fee will be, however, no fee brokers will never apply charges to you for using their service.

When you apply via a broker you are never under any obligation to proceed. If you are not happy with any of the terms or interest rates offered, there are no fees to pay and you can cancel the application at any time. If you do decide to proceed and the funds are sent to your bank account, the broker will receive payment from the lender.

 The only time a no fee broker gets paid is when you take out a loan through one of their lenders as a result of their referral. This means many brokers work extremely hard to find you the ideal loan with the best terms possible, as they only get paid when you do. Although the broker may not charge you any fees for using their service, the lender which you are matched to may charge various fees, so you should always thoroughly read through the loan terms before signing your loan agreement.

No fee direct lenders

If you are looking for a no fee payday loan, there is no requirement to use a loan broker. It is possible to approach lenders and make a direct application, however, you should take the time to compare any potential fees.

For example, you should check whether the lender charges a fee for early repayment of the loan. It may be possible that your financial circumstances improve, and you are able to repay the loan early. This can reduce the total amount of interest charged; however, some lenders will charge borrowers a fee when the loan is repaid before the original settlement date.

In addition, a lender who is authorised and regulated by the Financial Conduct Authority (FCA) can charge a maximum of £15 for each missed payment. However, not all lenders will charge this amount, and some may not charge a fee at all, so it is worth comparing lenders before making an application.

Although a lender may not charge a missed payment fee, daily interest on your outstanding balance will be applied and the amount you need to repay will increase. The lender will also report any missed payments to the credit reference agencies, which will negatively impact your credit score. It is also important that you read through the eligibility criteria of a potential lender before making an application, as some may not be willing to accept applications from those with a poor credit history.

Does CashFlex charge a fee? 

Here at Cashflex our service is completely free to every customer, there are no fees to pay and we do not add commission onto any loans we help you secure. As a broker, we believe the application process for loans should be as simple and accessible as possible, so we do not charge borrowers a fee. 

Although it is not possible to apply for a payday loan through our website, we can help you compare deals to find a competitive loan with flexible repayment terms. Choose to borrow from £100 up to a maximum of £5,000, with no arrangement fees.

Unlike payday loans which often need to be repaid on the borrowers next payday, our lenders offer a variety of instalment options. The repayment terms available can depend on the amount you choose to borrow, with small loans of less than £1,000 repayable in 3, 6 or 12 months. For loans of more than £1,000, it is possible to increase repayment lengths to 18, 24 or 36 months.

When you complete an application on our website your details will be passed across to our panel of lenders, who will conduct their own affordability checks. This will include a soft search of your credit file, although this search will only be visible to you.

As soon as a lender decides that they are willing to consider your application based on the initial information provided, we will redirect you to their website. At this point, they will conduct their final checks, which includes a single hard credit check that will leave a footprint on your report. If your application is approved, you will be provided with your loan offer. The exact interest rate and any possible fees, such as late payment charges will be clearly outlined in your loan agreement.

If you choose to proceed with the loan you will be able to sign the agreement online and the funds could be sent to your account in as little as 15 minutes*. However, the exact availability time of the funds in your bank account will depend on your bank's processing speeds.

Although we aim to find our customers the most competitive no fee loans possible, it is important to consider whether a loan is a right choice for your financial situation. A loan is a serious commitment and if you are unable to make the repayments you are likely to face additional charges and your credit score will be impacted. There are various organisations which can offer free and impartial financial advice, including The Money Advice Service, Step Change, PayPlan, National Debtline, the Debt Advice Foundation and Citizens Advice.

Try our FastCheck tool with no impact to your credit score

Our new tool allows you to calculate your chance of being accepted for a loan.

You are age 18 and a UK resident

You have a regular income

You have a valid UK bank account with an active debt card

Why choose us

Sometimes, the unexpected happens that means you need money fast. Here at Cashflex we offer a user friendly process to help you find same day loans in a responsible and affordable way.

How much can I borrow?

The exact amount you can borrow depends on your personal circumstances and can differ by lender. You can apply for a loan between £100 and £5,000

What are the repayment terms?

This is dependent on the amount that you wish to borrow. The repayment terms can be: 3 months, 6 months and 12 months to name a few, ranging right up to 36 months.

Can I apply for a loan with bad credit?

Yes. If you are unsure you can use our FastCheck tool to find out your loan eligibility.

Can I repay in instalments?


What will I need to get a short term loan?
Can I get a short term loan?

Over 18

You'll need proof that you are over 18.

Bank Account

Hold a valid UK bank account.


Have evidence of a regular income and UK residency.

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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.

We’re a fully regulated and authorised credit broker and not a lender.