Same Day Payday Loans have a flat rate fee.
There is no setup cost, no administrative cost, no transfer costs or any other hidden costs.
You can apply for amounts between £80 and £750.
Paydayloans - How much they cost:
Borrow |
Amount Payable |
£100
£200
£300
£400
£500
£750 |
£125
£250
£375
£500
£625
£937.5 |
Typical 1737% APR (based on a 30 day loan, cost of credit 25%)
Payday Loans - General Information
No upfront or administrative costs will be charged.
Considering the speed of our service, and the fact that we require no collateral for your
same day loan we believe that our charges are fair and competitively priced.
The APR% for Payday Loans may seem relatively high, but the inclusion of administration costs and setup fees in the ARP and the fact that the loan is generally paid over a period of 70 days, a yearly ARP% is misleading.
When compared to bounced cheaques, overdraft penalties or unpaid bill charges, Payday Loans are generally a much cheaper option.
Same Day Payday Loans vs Personal Loans
An unsecured personal loan of £5,000 borrowed over a period 60 months:
- Approx payments would be £134.77 per month.
- Repayment total: £8108.83
- Typical APR 23%.
- Actual Repayment: 62%.
Since this kind of loan has a payment period spread over 5 years, the monthly APR is small, but in real terms the repaymentt would be £3103.83 for a £5k loan, which is 62% compared to the actual cost of 25% for Payday Loans. This is why same day payday loans are so popular when compaired to unsecured loans |