Payday loans review ratings

Is a Payday loan right for you?

Need to borrow between £50 to £750 as a short term loan and you are able to pay the loan back when you get paid? Then this may be right for you. Depending on the provider they accept applications from the minimum age of 18 years to 21 years old and a UK resident. You will also need to be in full time employment with your wages being paid in to a bank account and have a debit card attached to your bank account.

Depending on the company you choose payment terms for paying back the short term loan is between 5 day to 31 days, but some payday companies do offer an extended term period to 60 days.

The interest you pay back is usually fixed and ranges from a minimum of 25% to 30% plus, so on average if you were to borrow £100 then the total cost to payback is £125. Please check the terms and conditions of the amount you have to pay back before you complete an application form.

Please note that depending on the payday loan providers you choose some do not require ID, but may do a credit check so ensure you have a good credit history before you apply.