Providing flexible short term loans

How much do you need?
Choose £150 to £2500
£
Over how many months?
Choose your term

If you borrow £450.00 over 4 months, including interest of £308.68, the total sum that you repay is £758.68

Your monthly repayment will be £189.67
Apply now »
Representative example

Amount and term of loan: £500 over 6 months. Amount repayable per monthly instalment: £159.39. Interest rate: 255.5% (variable). Total amount repayable is: £956.36. Representative 1072% APR.

You are applying for: £450.00 over 4 months

Before applying for a Different Money loan, stop and think. Can you afford it? Do you need it? Different Money undertakes extensive credit and affordability checks.Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Before applying for a Different Money loan, stop and think. Do I need it? Can I afford repayments? If the answer to either of these is no, then do not apply. Over 2 million loans were not repaid last year. All loans are subject to status and on affordability assessment. Failure to repay a loan may harm your credit rating.

See how we are different with our short term loans

  • We give you options: making sure the short term loan you apply for is affordable to you. Different Money does not offer payday loan products

    We give you options: making sure the short term loan you apply for is affordable to you. Different Money does not offer payday loan products

  • Through our checks and assessments, we offer a loan which is affordable to you

    Through our checks and assessments, we offer a loan which is affordable to you

  • We will be clear about the total cost of your borrowing. No hidden fees. No hidden charges

    We will be clear about the total cost of your borrowing. No hidden fees. No hidden charges

  • We believe in being personal; understanding our customers' needs and personal circumstances

    We believe in being personal; understanding our customers' needs and personal circumstances

  • We offer flexible alternative short term lending products

    We offer flexible alternative short term lending products

  • Our process is completely secure and verified by the Security Standards Council as well the Direct Debit Guarantee

    Our process is completely secure and verified by the Security Standards Council as well as the Direct Debit Guarantee

We recognise that high street banks aren’t for everyone, and that sometimes, they may not be able to offer you the short term finance product you’re looking for. Here at Different Money, we treat you as an individual. With our short term loans, transparency and affordability are fundamental to our proposition. If you’re struggling to find a short term finance product from a direct lender that considers you as an individual, you’ve come to the right place.

Short term loans?

Short term loans are typically a loan scheduled to be repaid in less than twelve months.

There are times when we experience an unforeseen circumstance and have a need for extra cash in the short term. When you are in this situation and need some short term cash straight away, people can often be tempted to take out a payday loan. These are often presented as a quick and easy solution to all your financial difficulties and available in just a few clicks. Too often, as we have seen in the media, the ease of which these loans can be taken out does belie the fact that they can cause people to become trapped in a spiral of constant debt, compounding interest and growing repayments.

Before you take out a short-term cash loan, or any type of financial product, you should consider whether you need this loan. Here are three questions you should ask yourself:

How much cash do you need to borrow? Think about how much cash you actually need from the short term loan to meet your needs during this time. You should try not to borrow more than you actually need as you will be repaying this and interest on the total borrowed.

Do you really need the short term loan? Think about if there is another way you can bridge your gap or without the need for a loan. See our blogs section for more information about how you can source extra cash without borrowing.

How long do you need to borrow it for? Consider this carefully. A short term loan could be borrowed and repaid over anything from a few months to a year. Don’t stretch your finances to repay it faster than you realistically could, but also don’t extend the loan period out longer than necessary. Your affordability each month is a vital consideration to your instalment amounts which is driven by the amount borrowed and loan term.

There are benefits of short term loans over other alternatives. When comparing to either a payday loan or a credit card you will make your repayments over a set period of time and at set intervals and installments. This should allow you to budget better and manage your finance in a more organised fashion. With a credit card or a payday loan there is always a temptation to continue borrowing. With a cash loan you are most often borrowing a specific amount of cash for a specific period of time. You won’t be tempted or pushed into further borrowing. The interest rates offered will vary a little depending up on how long you are taking out the short term loan for, 3, 6, 9 or 12 months.