With Same Day Pay day loans there is no set-up cost, no administrative cost, no transfer costs and there are no other hidden costs.
Our lenders charge one rate of variable interest for your loan. What you see is what you pay.
How Same Day Payday loan charges break down
You can apply for amounts between £80 and £750.
How much your payday loan will cost:
| Borrow | Amount payable |
| £100 | £125 |
| £200 |
£250 |
| £300 | £375 |
| £400 | £500 |
| £500 | £625 |
| £750 | £937.5 |
Representative 1737% APR Why more and more people are using Payday Loans
Our lenders' loans are fast, application is simple and acceptance rates are high. Additionally
there are no upfront fees to pay and no hidden administrative costs. This is why
we believe our lenders' charges are fair and competitively priced.
Payday loans are designed to cover a short period of time, normally no more than 1 month.
Taken out of context, the APR% for Payday Loans seems high. However, due to the
time period payday loans are designed to cover APR is not an appropriate measurement of the cost of a payday loan.
Same Day Payday Loans and bank loans
Looking at the typical rates charged for an unsecured personal loan form a bank or building society of £3,000 borrowed over a period
36 months:
- Approximate payments would be £151.19 per month.
-
Repayment total: £5,442.84
-
Representitive
APR 53.9% (variable).
-
Actual Repayment: 55.1%.
With a payment period spread over 5 years, the monthly APR is small, but in real terms the repayment would be £3103.83 for a £5000 loan, which is 62% compared to the actual cost of 25% for a PaydayLoan.
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