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Compare Loans from Pounds to Pocket

What's the difference between a long-term personal loan from Pounds to Pocket and a short-term Wonga loan? You can refer to this handy chart for information about Pounds to Pocket.

Save up to 20% on your first scheduled payment with promo code P2P11

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £800 for 12 months at £132.16 per month. Total repayment of £1,585.87. Interest: £785.87. Interest rate: 150% pa (fixed). 279.1% APR Representative.

What is the loan duration? 6 - 12 months
If approved, how much can customers borrow? Up to £2,000
If approved, how quickly can I receive the money? Within 10 minutes after approval§
What is the fee for faster funding? FREE
What is Pounds to Pocket's advertised representative APR? 279.1%

Pounds to Pocket Loans vs. Wonga Short-Term Loans

Here at Pounds to Pocket, we offer loans that are tailored to your needs. You choose how long you wish to borrow - anywhere from 6 to 12 months - then make gradual repayments over time. Wonga loans, by contrast, typically need to be repaid in full in a matter of days or weeks. The maximum term for their short term loan is 35 days, while a Pounds to Pocket loan can be borrowed over a full year, if desired and if you're approved.

Overall Cost Comparison of Loans

Approved borrowers can receive up to £2,000 from Pounds to Pocket, regardless of whether they're a current customer or brand new. New Wonga users, on the other hand, can only borrow a maximum of £400, as it is a short-term loan.

With both loan providers, there is no additional fee for repaying your loan early. If you're approved for a 6- to 12-month loan at Pounds to Pocket, we'll send your cash within 10 minutes after approval at no extra cost.§

Why Choose Pounds to Pocket?

At Pounds to Pocket, you may be approved for a higher loan amount than at a short term lender.

As long as you are at least 18 years old, a UK resident and employed, you are welcome to apply for a 6- to 12-month loan today at Pounds to Pocket!

All costs and information verified on 8th June 2018 from Wonga.com
Wonga information pertains to their short-term loan product, not their longer-term Flexi Loan.

Discount: (a) Please note that if you repay the first instalment on the scheduled due date, you will qualify for a 20% discount on that repayment only. (b) If the discounted amount exceeds the interest portion of your first payment, your actual discount for the first scheduled payment will be equal to the interest portion of your first payment. As a result, your first payment will be interest-free and will only consist of the principal due on that day. All other remaining payments will remain as scheduled in the amounts contracted for in your loan agreement. Promo code must be redeemed at the time of application, can only be used once and cannot be combined with any other offers.