Easy loans?
We think you'll find that Drafty's line of credit is a better, and simpler, solution.
Searching for quick and easy loans? Try Drafty's line of credit
Are you looking for an easy loan but want more from your lender? Our line of credit might be right up your street. It's not a loan, but it offers almost the same benefits you'd get from one, plus more besides. Let's take a look:
- Speedy money - Once you're approved, you could get your funds sent to your bank within 90 seconds. You won't get much quicker or easier than that
- Borrow what you need – You could get a credit limit of up to £3,000. Use just what you need and don't pay interest on the rest
- Reuse again - Borrow up to your approved credit limit again without reapplying. Yes, really. (as long as your account is in good status)
- No fees – With Drafty's line of credit, you'll never pay any fees. All you'll pay is interest on what you use from your credit limit. We don't like hidden charges, and we're sure you don't either
Borrowing is not always easy. So, we understand that if you’re searching for easy loans, you want to make things as simple as possible. That's why we're proud to offer a quick and easy loans alternative. Our ‘Excellent’ Trustpilot reviews speak for themselves.
We're fully regulated by the Financial Conduct Authority (FCA). And because we're a responsible lender, we'll only offer our credit line to those who can afford the repayments.
To make sure you can make an informed decision when it comes to your lender, our Compare Loans page lets you see how we stack up against some of our competitors. We said we were fair!
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
What exactly are easy loans?
Easy loans, also known as easy payday loans or easy online loans, are meant to do what they say on the tin – offer a simple way to borrow credit, normally over a short period. They're usually used for urgent expenses such as bills, home or car repairs or other unexpected and necessary payments.
Many online lenders offer loans with less form filling than in days gone by, making the application process quicker and easier for you. Which, in theory, means you can quickly access credit.
But some easy approval loans come with high interest rates (especially if you're looking for easy loans for bad credit) and long, fixed repayment terms. We're not a fan of those at Drafty. And we're guessing you’re not either.
Take out a line of credit with us and we'll make the process simple. You could get the cash sent to your bank within 90 seconds of approval and you'll benefit from a flexible repayment schedule.
What can Drafty offer instead?
Now for the nitty gritty. We know you'll be super-keen to find out why a Drafty line of credit could be the better option. Well, look at these benefits:
- We send the cash to your bank within 90 seconds of approval - Looking for fast, easy loans? It's easy to get fast cash with Drafty's alternative. Once you're approved, your credit could be sent to your bank in less than two minutes. Other lenders might offer quick loans as well, but we doubt you'll get the cash this quickly
- Borrow up to £3,000 - You could borrow between £50 and £3,000. What’s more, you'll only pay interest on what you use, unlike a lot of other lenders who'll charge you for the whole amount of credit. So, if you're wanting a £2,000 loan without the complicated application process, come to us instead! (Subject to affordability checks and approval)
- Flexibility - Unlike many online lenders who offer easy approval short term loans, we'll give you flexibility over your repayments. As long as you pay the minimum each month, you can set your plan to suit you. Plus, if you decide you want to pay back early, then great! There'll be no charges from us to do so either
- Redraw again - Need to borrow up your credit limit again? No problem! And there are no hoops to jump through to do so, unlike some other companies who might need to run another credit check or require a second application process
- Zero fees - We know this might sound too good to be true, but it's not! With our line of credit, you won't be charged fees. Not even for late payments (which we don't encourage, but we know that unexpected situations can happen). Withdrawing your cash? No fees! Paying back early? No fees! All you'll be charged is your credit amount of what you borrow with us and interest only on what you use
If you're looking for easy loans for bad credit, you might be put off by the process from other lenders. At Drafty, we look past the numbers on the screen and consider your individual circumstances and whether you can afford the repayments. That's what we call fair and simple.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
How can I get a Drafty line of credit?
- 18 or over and employed
- A UK resident with an active bank account and debit card
- Earning at least £1,250 a month
- Apply – It takes minutes and you’ll find out in no time if you've been approved
- Use your credit limit – Once approved, you could be given a credit limit of up to £3,000. Use just what you need and you won't pay interest on the rest
- Flexible repayments – You’ll repay a minimum amount every month, or more if you want to. It couldn't be easier to pay with our app
- Quick cash transfer – Reuse your line of credit whenever you need to. We aim to send the cash to your bank in under 90 seconds
Are there any disadvantages to easy loans?
There can be disadvantages of taking out easy to get loans, depending on the terms of the lender, particularly if you borrow above your affordable monthly repayment amount:
- Extra fees - If you miss a payment or fail to pay on time, some lenders could hit you with a large fee. And if this continues, you'll find yourself having to pay more than you borrowed
- High interest rates - Many short-term easy loans for bad credit have higher interest rates than other, long-term loans, so, on top of the fees, you could end up caught in a tricky cycle of borrowing
Here at Drafty, we only lend to those who can afford our credit line. And our flexible repayment option means you stay in control. So, if you're looking for same day loans with near-instant decision, why not try our line of credit instead?
Contact Drafty
- Live chat - Log in or create a new Drafty account to speak to our team through our live chat function
- Drop us a message - If you'd like to send us an email, checkout our contact us page and drop us a line. A member of our friendly team will answer your questions as soon as possible
- Give us a call - We're here to answer your calls on 0203 695 8072 from 9am to 6pm Monday to Friday, and 9am to 1pm every Saturday#
Easy Loans FAQs
Can I get an easy online loan?
There are various lenders who offer easy acceptance loans online, but whether you could be eligible for one will depend on your circumstances and the criteria of the lender. Some providers might offer easy loans for bad credit but make sure you check out the interest rates with these types of loans as they're often high.
At Drafty, we're a responsible lender and we make sure that those who are offered our line of credit can afford the monthly repayments.
Do I need a credit check for an easy loan?
All lenders must carry out a credit check before approving a customer for any type of credit, so you'll need to go through this process if you take out an easy loan. It's the same with Drafty. We'll need to make sure you can afford your line of credit so you don't end up in an unmanageable financial situation.
But don't worry, you can check if you're likely to be accepted without it affecting your credit score.
How quickly can I get an easy payday loan?
This will depend on the lender's application process but there are same day easy loans available, so chances are, once approved, you could get access to credit in a short space of time. At Drafty, we offer that little bit extra. That's why, if you’re approved for our quick and easy loans alternative, you could get the funds sent to your bank within 90 seconds.
How much can I borrow with an easy loan?
Lenders' terms vary and this will depend on your individual circumstances. As they're designed for short-term borrowing, you can often get a limit on an easy loan of between £50 and £2,000.
With our credit line, you could borrow up to £3,000 and reuse again and again if you need to. So, no need to worry about increasing your credit limit or having to reapply. It's like having your own pot of cash – there for you when you need it.
How much does it cost to take out an easy online loan?
Lenders have different rates so this will depend on how much you borrow, how long you pay it back over, and the interest and any fees that are charged. The more you borrow and the longer it takes to pay it back, the higher the costs are likely to be.
At Drafty, you'll never be charged any fees and you'll only pay interest on what you use from your credit limit. As an example, if you borrowed £100 over one month, it would cost you just £5.70.
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.35% (variable).
Head to our Pricing Page for more information.
Will I need to pay fees with a quick and easy loan?
Some easy loan providers might charge fees such as withdrawal fees, late payment fees and early repayment charges. Drafty's different. We keep things simple with no fees whatsoever. So, you can be sure there'll be no nasty surprises.
How long do I get to pay back an easy loan?
This depends on the terms of your loan, but easy loans are designed as short-term borrowing options. But some providers, depending on how much you borrow, might tie you to fixed repayment terms over a longer period than you'd like.
But at Drafty, you stay in charge. That's why you can set your own repayment schedule if you keep up to the minimum monthly payment amounts. And if you want to repay your credit line early, that's fine by us (we won't charge you for it either).
Drafty is an FCA-authorised provider of a Revolving Line of Credit with a credit limit of up to £3000, available to borrow as and when you need it (subject to affordability checks). You only pay interest on what you draw/use.
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.4% (variable).
There is no set minimum or maximum repayment term, so long as the minimum monthly repayment sum is met, however, you may repay back early without any fees and save on interest.