Charges for Quick Quid

Our lenders interest rates for quick loans are straightforward and charges are fixed so your repayments are very clear.

For each £100 loan you take out you’ll pay that back, plus an additional £25, if you borrow for a 28 day period.

The Representative APR for our Payday Loans is 1737% (variable).
As an example

• For a loan of £200 taken for 28 days
• The amount payable would be £250
• The included interest would be £50
• The representative annual interest rate 1737% (variable).

So, say you applied for a quick loan of £300 today. You could have £300 in your bank within 24 hours. Then, on your next payday, you’d repay £375.

Fixed rate charges for your quick cash loans

Compare with Bank Rates

It’s worth comparing this to other finance charges. Borrowing via an unauthorised overdraft could cost you up to £150 a month if you went overdrawn by £160, for example – some banks charge up to £5 a day as well as standard charges and fees.

A payday uk loan of £160, repaid within 28 days, on the other hand, would cost just £40. In addition to this, unlike a lot of lenders, our lenders charge no hidden fees or admin costs.

As with any form of borrowing, you should only borrow what you can repay and we urge customers to think about this carefully and draw up a budget before applying for a loan.

APR: What You Need to Know

APR is the Annual Percentage Rate of a loan. This is the annual interest and charges payable on it.   The APR must be outlined clearly to you by a lender before they provide you with a loan.

Our lenders' APR can initially be perceived as quite high but we advise you to consider the full range of factors at play. Our lenders don’t charge set-up fees and admin charges and they offer a fixed rate over a short time period. Payday UK loans are designed to be repaid quickly (within 28 days). Because of the short terms, an annual rate can give the wrong impression and may not be the best means of assessing the payday loan’s cost-effectiveness.