Looking for a PayDay loan at the weekend? There are several payday loan companies who offer near instant PayDay loans, the loan can often be transferred into your account in as little as 15 minutes from your completed application, 24 hours a day, 7 days a week. So whatever the reason, you can have access to a cash loan in an instant!
How much can i borrow?
Typically you can borrow upto £1000, but again this can vary from lender to lender, and of course varies depending on your monthly income.
Can i apply?
Most payday lenders have a few set criteria for lending (although these can vary so please check the lenders terms and conditions before applying), typically these include:
- Be over 18 years of age
- Be in permanent employment
- Have a bank account with a debit card
- Earn over £750 per month
How much interest will i pay?
Some typical examples, for PaydayUK loans:
- £100 borrowed – £125 repayment (Total interest charge £25)
- £300 borrowed – £375 repayment (Total interest charge £75)
- £500 borrowed – £625 repayment (Total interest charge £125)
- £750 borrowed – £937.50 repayment (Total interest charge £187.50)
PayDay loans often have a stigma attached to them but there are many reasons why you might want or need to take out a PayDay loan, whilst the true APR can sounds frightening, often PayDay loans have an APR in the thousands, with typical APR’s around 1800%, in real terms the interest is’nt often as frightening when compared to say overdraft fees or late payment charges.