Payday Loans Charges
We have made cash advance payday loans charges as easy and as transparent as possible.
There are no additional arrangement fees to set the loan up, however most lenders will charge
up to £25 for every £100 cash advance borrowed.
Please see the typical cash advance payday loans table below:
You Borrow
You Repay*
£80
£100
£100
£125
£200
£250
£300
£375
£400
£500
£500
£625
£600
£750
£750
£937.50
*Payable in a single payment on your payday
1737% APR TYPICAL
Understanding the Cash Advance APR
The APR stands for Annual Percentage Rate and is the interest on the amount borrowed
and other charges expressed as an annual charge rate. All lenders have to quote
an APR and it is a reasonably good way to compare similar products.
However it is not so good when comparing different products, such as cash advance
loans, as the below table illustrates:
Type of loan
Amount
Month
Total repayment
APR
Actual Interest
Installment
£500
36
£745
16.9%
49%
Installment
£500
60
£970
16.9%
94%
Payday
£500
1
£625
1737%
25%
The APR gives you a cost of loan as if you had the loan over a year of more. As
you can see the APR for the two installment loans are the same but the actual interest
repaid as a percentage of the loan is hugely different and much larger than the
cash advance payday loan.