Charges for a payday loan

Payday loans will give you the cash that you need fast and hassle free. Here are the payback details.

Our panel of lenders charge a flat rate fee repayable in one instalment on your next payday. Please note the below charges are for illustrative purposes and could vary depending on lender.

Your Loan Amount Your Payback Amount
£100 £124
£200 £248
£300 £372
£400 £496
£500 £620
£600 £744
£700 £867
£800 £992
£1000 £1240

 

Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable).

A financial payday loan company’s governing rules and regulations say that you must be shown the Annual Percentage Rate (APR). The APR is calculated on paying a certain fixed amount of interest each year. Usually APR’s are used for credit card or mortgages – which are repaid over the course of a year. As same day loans are repaid within 30-days and not a year it can be easier to understand the loan through the monthly rate. Again we must stress that these loans are intended for one-off use and not a solution to debt or long-term financial problems.