Rates

When using our services, there are no hidden fees. For every £100 you borrow, the charge will be £29.98.

Please take a moment to view our rates table to see the exact amount you can expect to repay for whichever amount you wish to borrow. It is important that you only borrow what you can afford to repay in full.

Why are payday loans displayed in terms of APR?

APR (Annual Percentage Rate) was introduced under the Consumer Credit Act of 1974 as a way to compare different types of loans. This assumes that all loans are taken and repaid over the course of an entire year, where interest can accumulate.

However, a typical payday loan term is 31 days and a flat rate applies rather than accumulating interest.

The APR is not always an accurate indicator when comparing the true cost of different types of loans. This is particularly the case for short term payday loans where the APR gets higher the shorter the period is to the payment date. What is most important for you to be aware of how much you will need to repay and that you can comfortably afford it.

Can you imagine if everyone was required to display rates in terms of APR?

When choosing a hotel, would you consider your stay as £24,455.00 per year or £67 per night?

When renting a car, do you think of it as costing you £18,250.00 all year or £50 for a day?

These examples may seem extreme, but like all financial products, a payday loan’s fees must be displayed as an annual percentage rate.

If there is anything you are unsure of regarding our rates, APR, or they way they are displayed, please ring us at 08000 32 76 55 or click here to chat with a customer care agent.