£300 Loan

A £300 loan is a small, short-term borrowing option ideal for covering unexpected expenses, emergencies, or bridging financial gaps until your next payday. These loans typically come with quick approval processes and repayment terms ranging from a few weeks to several months, depending on the lender.

Representative 79.5% Rates from 48.1% APR to 1721% APR. The minimum Loan Term is 3 months. The maximum Loan Term is 36 months. Representative Example: £1,000 borrowed for 18 months. Monthly Repayment of £89.22. The total amount repayable is £1605.96. Interest amounts to £570.44, an annual interest rate of 59.97% (fixed) Representative APR: 79.5% (variable).

What Is a £300 Loan?

A £300 loan is a small borrowing option that can help cover short-term expenses like emergency repairs, urgent bills or everyday essentials. It offers quick access to funds, with a simple application process and clear repayment terms. These loans are typically repaid either in one go or through fixed instalments over a few weeks or months, depending on the lender.

At Dot Dot Loans, we don’t lend money directly. Instead, we act as a credit broker, helping you find small loan options, including £300 loans, from FCA-authorised lenders. Our service is free to use and applying won’t affect your credit score thanks to soft search checks.

How Do £300 Loans Work?

You start by completing a short online application, sharing some personal and financial information. The lender will assess your situation to ensure the loan is affordable, and may carry out a credit check. If approved, the money is usually sent to your bank account the same day or within one working day. Repayment is agreed upfront and can be made either as a lump sum or through regular instalments, always including any interest or fees.

Common Uses for a £300 Loan

These loans are often used to deal with short-term financial pressure. For example, some people use them to cover urgent car or home repairs, catch up on utility bills, pay for unexpected medical or prescription costs, or bridge the gap between paydays.

Benefits of a £300 Loan

One of the main advantages is speed — many lenders can approve and transfer funds quickly, which helps when you’re dealing with an emergency. Fixed repayments can also make it easier to manage your budget, since you know exactly how much you’ll repay and when. Some lenders are willing to consider borrowers with less-than-perfect credit too, focusing on whether the repayments are affordable now. Most also offer flexible repayment terms, ranging from a few weeks to a few months depending on the loan and your needs.

Things to Consider

Although a £300 loan can be helpful in a pinch, it’s still borrowing, so it’s important to think about whether it’s right for you. These loans can come with higher interest rates than standard personal loans, so always check the total amount you’ll repay. Missing repayments can lead to extra fees and damage your credit score. Make sure the lender is authorised and regulated by the Financial Conduct Authority (FCA), which protects you with rules like the 0.8% daily interest cap, a £15 default fee limit, and a total cost cap of 100% of the loan amount.

Things to Consider

Higher Interest Rates

Small, short-term loans often come with higher interest rates. Always check the total repayment amount before borrowing.

Repayment Obligations

Missing payments can result in additional charges and negatively impact your credit score. Borrow only what you can afford to repay.

Who Can Apply for a £300 Loan?

Individuals aged 18 or older.
Borrowers with a UK bank account and regular income.
People with good, fair, or poor credit histories.

Alternatives to a £300 Loan

If a £300 loan isn’t suitable, consider:

Overdrafts: Use an authorised overdraft for short-term borrowing.
Credit Union Loans: Community-based lenders offering fair terms and lower interest rates.
Payday Loans: Short-term loans repaid in one lump sum.