Representative example on a loan of £200 repaid after 30 days: Total charge for credit: £248 Payable in one payment of: £248 Interest: £48 Interest rate: 292% p.a. Representative APR: 1223.6%
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VERIFIED 18/08/2025
It may seem we are talking about quantity here, but we are not. 100 payday loans means a payday loan of £100. Nowadays, you can borrow between £100 to £1,000 with a loan term between 1 to 24 months. Depending on which product you choose, interest will vary. As they are no longer any application fees, you won’t have to a single to make a query or application online or in person.
£100 payday loans, compared to other amount, may have different processing times. As lenders have to abide to the same rules as per their regulatory guidelines, some may spend more time when assessing a larger loan amount bigger than 100. Payday loans are used for emergency use and the smaller the loan needed, the better position you will be in when repaying the debt.
Borrowing more than you need is not advised and may you spend more cash on items other than the specific purpose you originally needed the loan for. 100 payday loans will have an interest of £24 if borrowed for 30 days. There are more than one hundred payday loans direct lenders you can choose to make an application to. Choosing the right one is vital in terms of speed, fast payouts and most of all, whether you will be approved or not.
Lenders are asking for more details with regards to your financial situation, this is as follows: Housing expenditure, Credit expenses, food and any other expenditure that may affect your ability when repaying the loan back to. This is called an affordability assessment, where they assess your ability on whether you can afford to pay settle the outstanding balance on or before the due date. A disposable income is calculated and other factors are taken when deciding whether to grant the loan amount you have applied for or offering a lower amount.