Representative 277.5% APR. Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed). The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable).
Payday loans are designed for short-term use only and should never be considered as a normal cash injection for anything else apart from its normal use. You can borrow between £100 to £1,000 and the loan term may vary depending on when you feel you would be able to repay the loan back without causing any further financial difficulties.
Although you can borrow any amount up to a certain threshold set by the direct lenders in the market, you can also set the repayment date. The repayment date should preferably be set on a day where you have enough cash left for yourself to continue on the term. It is always advisory to use your next payday to pay back the loan. This is why loans till payday is perfect for many people with frequent paydays.
Depending on which payday you want to choose to pay back the loan is based on how frequent you receive your income from work. Payday loans till payday will always be in a better situation rather than choosing a day where you are short of cash. Most consumers are paid monthly and some are paid bi-weekly, fortnightly and on a weekly basis. If you are paid on a weekly basis, it is always best to work out the income you will actually receive on that given week, based on your current payslip. You may always choose a second or third week for repayment if the first is not feasible for yourself.