AMOUNT
ONLINE
APPROVAL
The Advantages of Payday Loans
Still by far one of the most popular choices for getting the cash you need hassle free are payday loans.
8:55 am March 5, 2012
A Payday Loan From Professional Financiers
Usually you manage to control your finances very well, but this month life has dealt you a couple of nasty blows and there is no way that you are going to make month-end.
9:29 pm November 20, 2011
Payday Loans: An Easy Way to Fund Your Expenses
Nowadays, payday loans are considered as the most popular loan option for regular workers. For people whose paycheck falls short in meeting their regular monthly expenses, this loan type proves to be a boon.
7:48 pm November 7, 2011
Worry-Free Finance Using Payday Loans
The tight competition in the loan market has resulted in the wide array of loan options available for borrowers.
Payday Loans Brokers.
If you need instant cash loans paid into your bank account today, simply complete our short application form opposite. You will receive an instant online decision, and could get your cash TODAY!
We deal with all the payday lenders, so you do not need to submit multiple applications to get the cash loan you need. Also because we have a direct link you get your decision instantly, while you are sat at your computer. Also in most cases there is no requirement for additional paperwork.
Instant Cash Loans*
An instant cash loan is a small loan that is repaid in full on your next payday. You can borrow amounts from £50 to £1,000 with an instant online decision. Once the loan is approved your cash advance is paid straight into your bank account and you repay it in full when you get paid
Payday Loan Charges
Payday loans carry a fixed flat rate fee - it is as simple as that. There are no hidden charges or administrative costs. The cost of credit is 29% for a 30 day loan so if you borrow £100 you will repay £129. You can borrow from £50 to £1,000. Although you may be limited to £500 the first time that you apply.
| You Borrow | Total Amount Repayable |
|---|---|
| £100 | £129 |
| £200 | £258 |
| £300 | £387 |
| £400 | £516 |
| £500 | £645 |
| £600 | £774 |
| £700 | £903 |
Representative 1737% APR
Based on a total loan of £750 for a period of 28 days at a fixed rate of £29 per £100 borrowed (which is a fixed annual interest rate of 348%), the total amount payable in one lump sum payment on your next pay day would be £967.50 and the representative APR would be 1737% APR. At first glance the APR for payday loans might look quite high. It must, however, be noted that an APR, or Annual Percentage Rate, is the interest accrued in a year. As most payday loans run for a period of 31 days, this can be quite confusing and misleading. As mentioned before, the actual interest is 29%. An APR is a useful way to compare loans that are alike, but it is not quite so useful when comparing products that are not.
The following table illustrates this:-
| Type of loan | Amount | No. Of Repayments | Total Cost | APR | Actual Interest Charged |
|---|---|---|---|---|---|
| Monthly Repayment | £500 | 36 | £653 | 19.9% | 31% |
| Monthly Repayment | £500 | 60 | £766 | 19.9% | 53% |
| Single Repayment | £500 | 1 | £645 | 1737% | 29% |
As you can see from this table the APR for the two instalment loans is the same. However, you will notice that the interest repaid as a percentage of the loan is significantly different. The payday loan costs less even with the higher APR
Representative example: £275 borrowed for 28 days. Annual interest rate of 348% (fixed). Total amount repayable by one repayment is £354.75. 1737% APR Representative.
* Check with your bank to see if they will accept Faster Payments; some banks can take as long as 3 working days to clear the funds. Applications must be received by 1530 and completed by 1700 for your money to be transferred today!