Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk. We provide a broking service and are not a lender.

Representative APR 1294.1% £200 payday loan for 28 days. Total repayable £244.80. Charge for credit £44.80 - interest only. Interest rate 0.8% per day, equal to 292% p/a (fixed)

Charges

We think it's important that you understand how much a payday loan will cost you

Responsible payday loans

We don't charge you for our service. However, you will incur charges with a lender for the loan amount you have requested. These charges do not include the fee lenders pay us for our service. You should only be charged interest, and other legitimate fees that a lender may operate.

We believe in being totally transparent about the charges you will pay.
Here is our representative charges example of a 28-day payday loan.

We don't charge fees for our credit broking service

Deciding on a loan isn’t just about paying back the loan amount. All loans come with additional charges making the amount you will repay higher, and these should be considered carefully before agreeing to your loan.

Though charges may differ from lender to lender, we strive to provide you with the most accurate, potential cost of your loan. You should always check your lender’s specific charges (these can be found on their website and in the loan agreement) but use this example as a first port of call before being matched with your lender.

The following illustrates the charges you will incur for a payday loan, taken out for a period of 28 days and repaid, in full, in one single payment.

Representative charges example

Loan amount
Interest charged
Total repayable
£100
£22.40
£122.40
£250
£56
£306
£500
£112
£372
£750
£168
£918

*Calculation based on a 28 day payday loan

The exact amount our lenders will charge may vary

Why the APR is high

All companies within the financial industry in the UK are legally required to present interest rates as an Annual Percentage Rate (APR). APR is designed for long term loans taken for a period of 12 months or more and is often a good way of comparing loans. Payday loans, on the other hand, are taken out for a period of 30 days or less. The APR you see here is representative of a whole year, rather than the short period of time that you are borrowing for.

Therefore, the actual APR that you incur, will be calculated according to the length of your loan. You should be presented with the actual rate by your lender upon a successful match. You will also be presented with the breakdown of your repayment, illustrating the exact amount you will repay on top of your loan amount.