Home On Stride Loans Review 2021 – READ THIS BEFORE Applying!

On Stride financial logoHave you ever been in a tight situation financially? If then, On Stride Loans might have come to mind to your mind at least once before.

They are among the countless loan providers in the UK market. But is it the right one for you?

In our comprehensive analysis of the platform, we would like to take a look at the key features of this lender. Here is your opportunity to learn everything you need to know about them and make an informed decision on whether or not to take out a loan from On Stride.

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In This Guide

What is On Stride Loans?

Onstride logo

On Stride Financial has been a lender in the UK market since 2014. It is the trading name of CashEuroNet UK, LLC and has its headquarters in London. The lender is authorized and regulated by the Financial Conduct Authority (FCA).

This service provider is a part of the same company that owns Pounds to Pocket and QuickQuid, also lenders in the same market. In fact, a good number of borrowers in the UK may have heard of the company when it absorbed the better known Pounds to Pocket early in 2019.

It is a direct lender and not a broker and is part of publicly traded company Enova International. Enova is renowned as one of the original “big three” in payday loan service providers. The other two were Wonga, now collapsed, and The Money Shop.

Enova also includes QuickQuid, CashNetUSA, The Business backer and Headway Capital. Over the past decade, the company has offered services to upwards of 5 million customers.

Over the years, Enova has gradually moved away from payday loans and offers longer term installment loans. When it launched On Stride in 2014, its focus was on providing cash-strapped borrowers access to funding without the huge interest rates of payday loans.

On Stride offers a wide range of loan amounts to short term borrowers under flexible terms and allows for customization. Rates can be highly competitive for good creditors but they can be pricey for poor creditors.

Pros and Cons of an On Stride Loans Loan


  • Transparent fee system
  • Competitive rates for good creditors
  • No early repayment fees
  • Funds available in minutes after approval
  • You can tailor the amount to suit personal needs and circumstances
  • The loan comes with fixed repayment terms
  • You can match your repayment due dates to your paydays


  • Transparent fee system
  • Competitive rates for good creditors
  • No early repayment fees
  • Funds available in minutes after approval
  • You can tailor the amount to suit personal needs and circumstances
  • The loan comes with fixed repayment terms
  • You can match your repayment due dates to your paydays

How does an On Stride Loans loan work?

On Stride operates under the leadership of an experienced team from the UK financial services industry. Its objective is to provide everyone access to trustworthy and straightforward credit. With that in mind, the lender provides open and honest loan terms for all its eligible users.

It offers funding at a wide range of APRs on the basis of applicants’ personal circumstances and credit history. These are available in terms ranging from 6 to 36 months and come in amounts from as low as £150 to £5,000.

You can therefore access loans at rates as low as 29% to 45%. And considering they do not require a guarantor, and that they accept borrowers whose credit scores are not perfect, they offer quite some flexibility.

Since they have no brick and mortar stores, all transactions, right from application, take place online. Their loans are fully customizable, making it possible to find terms to suit your unique circumstances and financial situation. You can tailor both the loan amount and the repayment terms to find the perfect fit.

Straightforward application

The application process is straightforward and requires you to fill out the application, which can be quite detailed, and then set your amount and repayment terms. They then process the application and if approved, you can have the funds in your account in as few as 10 minutes.

Loan application page of On Stride Financial

Prior to approval, your loan will be subject to a credit check as well as affordability and status checks. If you are not sure of whether or not you will get approved for a loan, you can avoid the hassle of going through the application process only to get declined.

A better alternative would be to use the loan calculator on the site to get an idea of the rates associated with the loan amount you have in mind. With this information, you can determine your own affordability.

Note however that the loan amount, the interest rate and the loan term may vary on the basis of actual application details. The lender will assess your individual circumstances and determine the applicable rates and terms.

Loan repayment

You can choose from two options when it comes to making repayments, both of which are automated. The first option will allow the lender to withdraw funds from your debit card at no extra charge.

A second option is known as the Direct Debit Authorisation (DDI) and is best if you have no debit card, it basically allows the lender to withdraw funds directly from your bank account.

Note that after taking out a loan with On Stride, you can apply for a top up if you need additional funds and cannot wait to pay out the current one. This will result in the recalculation of your interest and your repayment period to set more suitable terms.

Only eligible borrowers can apply for this provision. To find out if you qualify, simply log in to your account and look for a button labeled “Apply for Top-Up.”

On Stride Loans Account Creation and Borrowing Process

Creating an account on On Stride and borrowing might be a little cumbersome. The lender requires lots of applicant details to determine the best rates and terms applicable.

1. To get started, you will obviously need to visit the site as they only offer services online.

On Stride Financial available loans and repayment period

Before applying, you can get a rough idea of the rate, monthly repayment and total repayment. Simply select an amount and set a tentative term, then check the table for possible rates.

2. Once you get a general idea of things, you can click on “Start Your Application” to initiate the actual application process.

Rates and terms page of On Stride Financial

This will take you to a three-page form where you need to fill in personal information and financial information, and then select a loan.

3. Before you start filling out the required details, indicate why you need the loan by choosing one of the entries from the drop-down menu.

4. Next, fill in your name, date of birth, mobile number, residential status, time at address and postcode.

5. Create your account by entering your email address and password. Go through the privacy policy and accept the terms, and then click “Continue to Step 2.”

6. Follow the prompts on the screen to fill in the details under Financial Information and then select a loan.

Once you fill in all the required details, you will get access to a number of different offers as well as information on the loans you are eligible for and whether or not you can qualify.

At this point, you can customize the loan you want by trying out the different available options and finally selecting the most suitable one.

7. When you make a decision, proceed to the next step by selecting your final amount and terms and then clicking on “Apply.”

Note that when you do this, it will reflect on your credit history. The lender will verify your identification and then finalize the loan over a couple of days.

8. If everything is satisfactory, you will get the final contract, which you need to sign and submit for approval.

As soon as you get the final stamp of approval, you should get your funds on the same day, in some cases, within minutes.

It’s essential to be cautious during the sign up process for these products. This is because you can end up owing two to three times what you borrow on the longer-term loans, and many have difficulty repaying the short-term loans without reborrowing.

Eligibility Criteria for On Stride Loans Loan

There are a number of qualifications that you need to meet if at all you are to qualify for a loan from On Stride. Take a look at some of them:

  • Be at least 18 years old
  • Be a resident of the UK
  • Be employed
  • Receive a regular paycheck
  • Have a UK bank account
  • Have a valid debit card

Information Borrowers Need to Provide to Get On Stride Loans Loan

In the application process, you need to provide some details about yourself. These include:

  • Your address information for the past 3 years
  • Employment details
  • Your financial information
  • A pay slip to show how often you get paid
  • Bank account number and sort code
  • Debit card details
  • A bank statement for the past 30 days

What are On Stride Loans loan borrowing costs?

The rates of borrowing from On Stride vary significantly from one applicant to another based on borrowers’ credit history and other factors. Have a look at some of the rates you can expect to pay on the platform:

  • Representative APR – 315.4%
  • Late payment fee – £15
  • Early payment fee – nil
  • Arrangement fee – nil

Representative Example:

  • Credit amount – £900
  • Loan term – 10 months
  • Monthly repayment amounts – £162.56
  • Total repayment amount – £1,625.60
  • Interest – £725.60
  • Interest rate per annum (fixed) – 140%

On Stride Loans Customer Support

There are mixed reviews online on the On Stride customer support team. A good number of negative reviews concern unaddressed and unacknowledged complaints, delayed communication, poor service and so on.

If these are anything to go by, the lender still has some work to do on improving customer support.

Is it safe to borrow from On Stride Loans?

On Stride Loans in authorized and regulated under the FCA. It also implements sturdy security measures to protect the privacy of user information submitted on the website. The site claims to use the latest technology including Secure Socket Layer (SSL) encryption as well as McAffee SECURE.

On Stride Loans Review Verdict

On Stride Loans appears to be a reliable and reputable service provider. It offers lots of flexibility with regards to loan amounts and loan terms.

Its rates are relatively competitive, particularly for good creditors. But even though poor creditors can apply, they have to pay high rates.

They will report your activity to credit bureaus, which can be a benefit or a curse, depending on your repayment habits.

The site charges late repayment fees and is accused of poor customer support.

Overall, it might be a good last resort option if you find yourself in a financial rut with no other way out.

Try Our Recommended UK Payday Loan Provider 2020:

  • Get an Instant Quote
  • Apply within 2 Minutes
  • Friendly Support Service
  • FCA Regulated
*Subject to lender requirements and approval.

Glossary of loaning terms

Loans Glossary
Credit Score

A credit score shows your creditworthiness. It's primarily based on how much money you owe to loan or credit card companies, if you have ever missed payments or if you have ever defaulted on a loan.

Loans Glossary
Guaranteed Approval

Guaranteed Approval is when, no matter how bad, your credit score its, your loan application will not get declined.

Loans Glossary
Credit Limit

A Credit Limit is the highest amont of credit a lender will lend to the borrower.

Loans Glossary

Collateral is when you put up an item against your loan such as your house or car. These can be repossessed if you miss payments.

Loans Glossary
Cash Advance

A Cash Advance is a short-term loan that has steep interest rates and fees.

Loans Glossary
Credit Rating

Your Credit Rating is how likely you are to fulfill your loan payments and how risky you are as a borrower.

Stocks Glossary
Fixed Interest Rate

Fixed Interest Rate is when the interest rate of your loan will not change over the period you are paying off you loan.

Stocks Glossary

The Interest is a percentage based on the amount of your loan that you pay back to the lender for using their money

Loans Glossary

If you default on your loan it means you are unable to keep up with your payments and no longer pay back your loan.

Loans Glossary
Late Fee

If you miss a payment the lender will charge you for being late, this is known as a late fee.

Loans Glossary
Unsecured Personal Loan

An Unsecured Personal Loan is when you have a loan based solely on your creditworthliness without using collateral.

Loans Glossary
Secured Loan

A Secured Loan is when you put collateral such as your house or car up against the amount you're borrowing.

Loans Glossary
Prime Rate

This is the Interest Rate used by banks for borrowers with good credit scores.

Loans Glossary

The Principal amount the borrower owes the lender, not including any interest or fees.

Stocks Glossary
Variable Rate

A Variable Rate is when the interest rate of you loan will change with inflation. Sometimes this will lower your interest rate, but other times it will increase.

Loans Glossary
Installment Loan

An Installment Loan is a loan that is paid back bi-weekly or monthly over the period in which the loan is borrowed for.

Loans Glossary
Bridge Loan

A Bridge Loan is a short term loand that can last from 2 weeks up to 3 years dependant on lender.

Loans Glossary
AAA Credit

Having an AAA Credit Rating is the highest rating you can have.

Loans Glossary

A Guarantor co-signs on a loan stating the borrower is able to make the payments, but if they miss any or default the Guarantor will have to pay.

Stocks Glossary

LIBOR is the London Inter-Bank Offered Rate which is the benchmarker for the interest rates in London. It is an average of the estimates interest rates given by different banks based on what they feel would be the best interest rate for future loans.

Loans Glossary
Home Equity Loans

Home Equity Loans is where you borrow the equity from your property and pay it back with interest and fees over an agreed time period with the lender.

Loans Glossary
Debt Consolidation

Debt Consolidation is when you take out one loans to pay off all others. This leads to one monthly payment, usually with a lower interest rate.

Loans Glossary
Student Loan

If you obtain a Student Loan to pay your way through College then you loan is held with the Department for Education U.K.

Loans Glossary
Student Grants

Financial Aid in the form of grants is funding available to post-secondary education students throughout the United Kingdom and you are not required to pay grant


How does a Direct Debit Instruction (DDI) work?

What if I am unable to repay my On Stride loan?

What if I take out a loan from On Stride and then change my mind?

What is a top-up?

Can I repay my loan early?

What loan products does On Stride Loans offer?

UK Payday Loan Reviews- A-Z Directory



Nica specializes in financial technology and cryptocurrency. At her young age, she was already able to work with a Y Combinator-backed startup and another startup founded by Harvard graduates.

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