What are the charges involved?
The charges you need to be aware of with a payday loan is how much you pay back on the amount you borrow. This amount is a fixed sum dependent on the individual provider. For example, in most cases you have to pay back £100 for every £80 you borrow, resulting in £20 interest.
However, this charge does vary, as some providers may charge £30 or more in interest. It is always a good idea to use comparison tools to compare rates and ensure you get the best payday loan available.
Other points to take note of are that you don’t have to worry about administration fees with payday loans and there are not usually any hidden costs involved.
It is also important to be aware that if you feel it necessary to extend the loan period by paying off the interest only, some payday loan companies will charge an additional fee for rolling the repayment date.
| Compare Payday Loan Providers | ||||||
| Lender | Loan Amount | Employment | Bank Account | Faxing Required | Charges | Get a Quote |
|---|---|---|---|---|---|---|
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Up to £750 | Yes | Yes | No | £25 for every £100 | Go |
| Everyday Payday | £100 to £1000 | Yes | Yes | No | £25 for every £100 | Go |
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£80 to £750 |
Yes | Yes | No | various | Go |
| Quids till payday | £80 to £750 |
Yes | Yes | No | various | Go |
| news |
|---|
| Payday Loan Lender Warns of Fraudsters - Mon, 08 Mar 2010 |
| Michigan Payday Loan Laws Tightened - Wed, 03 Mar 2010 |
| Californian Payday Loan Firms Criticised - Mon, 01 Mar 2010 |
| More News |


