How your Wonga loan works
Our short term loans could help if you have an unexpected expense
Our short term loans could be a big help if you need a small amount of extra cash. You can see all costs upfront, and there's a single repayment
You set when you want to repay. We'll take repayment from your debit card automatically
New customers can borrow up to £400. Existing customers can borrow up to £1,000 depending on their Wonga personal application limit
Short term loans are for occasional use only. You shouldn't use them to manage existing debt, or if you're already under financial strain
Your journey using Wonga
To apply you must:
Be over 18
Be a bank account and debit card holder
Be a mobile phone owner
Live in the UK
Answering yes to these questions means you can apply for a Wonga loan. But we can't guarantee acceptance. We always assess each application individually and only lend to people we think can afford to repay on time.
Checking the cost
Use our sliders to set how much you want to borrow, and when you want to pay back.
You'll see the costs before you apply.
What does a Wonga loan cost?
For every day you borrow £100, you pay 80p
Borrow £100 for a week – you pay £5.60
That's 0.8% per day.
|Borrow||£100 for 13 days|
|Interest rate||292% pa (fixed)|
|One repayment of||£110.40|
Before you apply
Our loans are for short term use only and may not be the cheapest option.
You shouldn't use our service to manage existing debt or if you are already struggling financially
Simple online application
You apply online - no paperwork or phone calls. We'll ask for your address, bank and employment details. We never contact your employer, but we will do an online credit check.
- A loan explanation showing how our service works and things you need to know
- An important information document which highlights all the key facts
- Our standard terms and conditions
You should read these carefully and only continue if you're happy the loan suits your needs.
We'll usually say yes or no right away
Depending on the information you gave us, you'll get 1 of 3 decisions
Remember, we will only offer you a loan if we think you can afford to pay back.
Yes - Approved
You've been approved for a loan.
No - Declined
We couldn't give you a loan this time. We'll show you the reasons for this decision onscreen so you can see what might have affected your application
Maybe – Referred
If we need to check a few more details before deciding whether to approve your loan, we will normally be back in touch with a decision within 24 hours
If you're approved, we'll give you your loan agreement. Please read it carefully.
Make sure you're happy to take on the commitment.
If you are, press ‘I accept' to sign it. If you're not sure a loan is right for you, don't press as you'll enter into a formal agreement.
We send the money in 5 minutes – how fast it appears in your account depends on your bank.
Repaying is automatic
We've made repaying simple. We take payment from the debit card you register with us, on the date you request.
Just make sure you have enough money in your bank account from 5am on your repayment date.Find out more about repaying
We use continuous payment authority (CPA) to take repayment automatically. If we can't collect on your repayment date, we'll try to contact you. If we can't get hold of you we'll try to take the amount owed from your card once again using CPA within 30 days. We'll contact you the day before we use CPA for the second time.
Make sure you read How we collect payments.
Pay back early - and save interest
You can repay all or some of your loan early at any time and save interest as you only pay interest for the days you borrow. There's no fee for repaying early
To repay all or part of your loan early, login to My account and click ‘Repay' or call our automated payments line on 0207 183 0063
Can I top up my loan?
If you already have a loan, but need some extra money, you may be able to top it up while keeping the same repayment date.
To check if you can apply for a top up, login to My account.
The amount you can top up will depend on your personal application limit and our credit and affordability assessment of you. We assess each top up application on an individual basis and we can't guarantee that your application will be successful.
Please be aware, you can only top up a loan once a day and a maximum of 3 times.
If your application for a top up is successful, you'll need to enter into a new credit agreement for the extra amount. Once you've accepted the new credit agreement we'll send the extra money in 5 minutes. Interest is charged at the same rate as your original loan.
You've repaid on time
After your repayment, we'll send you a final email to thank you for paying off your loan.
That's all there is to it!
What if you repay late?
We may report late payment to credit reference agencies, which may affect your credit rating, and make getting a loan more difficult and more expensive in the future.If you delay repaying you will face extra costs
Missed payment fee£15.00
We'll charge you a missed payment fee of £15 if you don't repay by 11pm on the third day after your repayment date.
Continued interest on your balance0.8% per day
Interest will continue to be added to your balance for up to 30 days after your repayment date.
You'll never have to pay back more than twice what you borrowed. So if you borrow £100, the most you would have to repay would be £200.
What if you can't repay?
You need to contact us straight away. We always want to help you if you're having financial difficulties and we'll always try to find a solution that works for both of us.
Find out more about How we can help
Login to the My account area of our site
Set up a repayment arrangement with us and we'll freeze interest.
What happens if we can't agree a fair repayment plan? We will work with you to try and agree a fair and affordable solution.
If you can't pay back, call us. We're here to help
24 hours a day, every day.
The important thing is to call us as soon as possible.