Payday UK are a short-term loan provider offering loans of between £100 and £1000. Loans can be spread over 5 repayments. Based in London, Payday UK have been providing finance to customers for over 15 years, making them one of the UK’s longest-standing short-term loan providers.
What Is The Criteria For A Loan With Payday UK?
To apply for a loan with Payday UK you must be aged 18 years or over, a full UK resident with a valid UK bank account and be in permanent employment. During the application process, you must be able to provide full details of your employer as well as all of your outgoings and expenses, this helps them decide whether or not you are able to afford the loan.
How Do Repayments Work With Payday UK?
If approved, you will be offered options to repay your loan with Payday UK back in 1 to 5 instalments. You must choose which option is most affordable to you. For example, if you feel that the instalment amount for a loan over one month is too high, you should consider a longer term. You will be required to repay your loan back on the dates specified on the application. Late payments can result in fees of up to £15.
Like many responsible online lenders, Payday UK use Continuous Payment Authority, which means the repayments will automatically be collected from your account on the date agreed, without you having to make the payment manually. This can help ensure you do not miss a payment.
Here is a Representative Example of a loan with Payday UK: £250 borrowed for 3 months. Annual interest rate of 292% (fixed). Total amount repayable is £395.34 in 3 monthly instalments of £131.78. Representative 1217% APR.
Telephone Number: 0330 024 1642
Company Number: 2685515
Payday UK are authorised and regulated by the Financial Conduct Authority (FCA)
Warning: Late repayment can cause you serious money problems. For help, go to www.moneyadviceservice.org.uk.