The APR seems high, why?

The APR of 1355% we quote you during your application is based on an annual figure, we have to show you this by law, the actual amount you pay is just £25 for every £100 you borrow from us.

We always have to quote to you the APR and this may look very high but it's not the true reflection, this is the amount for lending for the whole year which is not what we do, our typical payday loan is usually for just 30 days. We have to quote the high annual APR even though this is not a true reflection of the charges for our service, all we charge is £25 for every £100 you lend from us.

See the graph below to compare actual lending charges and fees.

You can also compare high interest charges for when you go overdrawn and do not have an overdraft facility.

Consumer Credit License Number: 620894 | Data Protection Number: Z1292430