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Borrow from £80 to £750 - No Hassle No Fuss Instant Cash In Your Bank Account Now! |
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Our Charges We Charge £25 for every £100 borrowed |
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Comparison with Personal Loan Charges The fixed labour and capital costs incurred with funding and underwriting each small payday loan, are the same as funding and underwriting a larger personal loan. With a larger loan amount in a conventional personal loan, the lender can cover costs and earn a profit, by charging a smaller annual percentage rate, over a longer period of time. A Short-term payday loan, on the other hand, cosst just as much to supply as a personal loan, and is unable to charge the same low interest rates, if it expects to cover costs. It must, therefore charge higher rates of interest, over shorter periods in order to make money. Because of this, and the risk associated with them, small-balance short-term payday loans, must charge a higher effective annual interest rate than personal loans. Otherwise lenders would not want to offer them. Even though when you look at the APR charges you expect to be paying more for a payday loan, you should check the actual amount of interest that you will pay. With one of our loans you know the cost straight away, you are charged £25 for every £100 that you borrow. |