Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
*We are an authorised credit broker not a lender

Charges

You can borrow from £100 up to £2000 for up to 2 years. Here we have provided just a few loan examples, displaying the amount borrowed and the total amount payable (including interest and fees). The loan examples below are calculated using a 35 day borrowing period.

Loan Amount Interest Your Repayment Amount
£100 £28 £128
£200 £56 £256
£300 £84 £384
£400 £112 £512
£500 £140 £640
£600 £168 £768
£700 £196 £896
£800 £224 £1024
£900 £252 £1152
£1000 £280 £1280
Loan Amount Interest Your Repayment Amount
£1100 £308 £1408
£1200 £336 £1536
£1300 £364 £1664
£1400 £392 £1792
£1500 £420 £1920
£1600 £448 £2048
£1700 £476 £2176
£1800 £504 £2304
£1900 £532 £2432
£2000 £560 £2560

Advantages of a Payday Loan

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Quick access to cash advances for salaried employees

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Accessible for people with all credit history's

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If you pay them back according to the loan agreement then they can help you rebuild your credit history

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The application process if very simple and usually quicker than conventional credit applications

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If paid back on time, limited liability

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As you have an agreed repayment figure and you're not in debt for very much and not for long

Disadvantages of a Payday Loan

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High interest rates

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Can spiral out of control if used for long term borrowing

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Not paying them back can damage your credit rating

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Payday Loans can worsen your debt as they increase your monthly outgoings

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If you have a good credit history they are a really expensive loan and shouldn't be treated as your first option to obtain credit

When you are applying for a loan, you should understand the overall cost of borrowing money from a short term or payday lender. You should make sure that you can afford to make the repayments for a short term loan and ensure that borrowing money will not put you in a spiral of debt that you can’t control. If you think you need help with your debts, you can contact the Step Change Debt Charity service at www.stepchange.org