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FAQ's at Daily Loan


We, at Daily Loan have compiled the following questions based on the most frequently asked questions by consumers regarding our products and services. If you feel that you have a question which is not satisfied by the following, you are welcome to contact us to get your queries answered.

Q: What service does Daily Loan provide?

A: Daily Loan provides residents of the United Kingdom with short term loan service. Short term loans are unsecured personal loans available as payday loans and installment loans. It is a source of instant cash advance for unexpected financial emergencies. We provide consumers with loan matching service with direct lenders without any service cost using our online platform.


Q: How long does it take to apply and receive my funds?

A: Daily Loan has an immediate delivery service designed to ensure that borrowers are able to restore their normal financial circumstance from a crisis. The application process is fast, easy and secure. The applicant chooses the desired loan amount and loan term period using the easy to use tool. The form requires basic personal details such as name, occupation, etc. which can be completed within a few minutes. After submitting the form, the system matches the applicant with a suitable direct lender within seconds. Upon approval, funds are immediately transferred to the borrower’s personal bank account. You will receive your funds on the same day unless your bank has terms and conditions which do not allow it to receive funds on the same day. In any case, you are responsible for confirming with your bank for any such issues.


Q: How much can I borrow?

A: There are various loan options available to choose from based on your needs. If you need a small amount for a short time, you may choose payday loans which are available in amounts of £100, £200, £300 and £400 for 7, 14, 21 and 28 days. If you need a big amount for a longer time, you may choose installment loans which are available in larger amounts of £400, £500, £600, £700, £800, £900 and £1000 for a significantly longer time such as 60, 90, 120, 150 and 180 days.


Q: What are the eligibility criteria?

A: There are very simple eligibility requirements for using our services. All applicants must be valid UK residents over the legal age of 18 years old. This is to ensure that you are of legal age to be involved in a financial agreement. Furthermore, you must be currently employed or have a steady source of income which ensures that you are financially capable of repaying the loan.


Q: Why do you need my personal information?

A: Personal information is extremely confidential and valuable information which is securely used by us for providing you with our services. We need your information to validate your identity and for assessing your credibility as a borrower. Also, it is necessary for our direct lenders to transfer funds to your personal account and for any necessary further contact. We act in compliance with the Data Protection Act for the safety and security of your information.


Q: Will you check my credit score?

A: Yes. As a responsible financial entity, we are required by government regulations to check your financial capability which is assessed by your credit score. This ensures that those who are financially incapable of pursuing a loan are protected from debt.


Q: Will my credit score affect my application?

A: Yes, your application will leave a record in your credit history.


Q: Can I apply if I do not have a debit card?

A: You are not required to have a debit card to apply. As long as you have a valid personal bank account, you are eligible to apply and receive your loan funds on your personal account.


Q: How will I receive my funds?

A: Upon your loan approval, the funds will be immediately transferred to your personal bank account within the same day.


Q: How can I payback my Payday Loan?

A: There are various repayment options available for your convenience which is subject to the agreement between you and the direct lender. You can setup automatic payment from your personal account on which you received your loan amount. Any alternative repayment option can be arranged by contacting your direct lender.


Q: Can I defer my payment?

A: Deferring payments on your loan is upon the mutual agreement of you and your direct lender.


Q: What should I do if I have problems repaying?

A: If you have trouble repaying your loan, then you must contact your direct lender prior to violating any terms and conditions of your agreement. Both you and your direct lender can mutually agree upon an alternative payment plan to help you repay your loan.


Q: I am happy with your service – can I let you know?

A: Your feedback is valuable to us. Yes you may contact us at the following contact details to let us know of your suggestions, recommendations, and/or any queries which may arise.


Email: support@dailyloan.co.uk


Our representative office address:

DailyLoan.co.uk

Customer Support,

Unit 34 New House,
67-68 Hatton Garden,

London, England, EC1N 8JY.

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