Warning: Late repayment can cause you serious money problems for help go to: www.moneyadviceservice.org.uk
Representative Example: The Representative APR is 1,183% APR so if you borrow £200 over 61 days at 365% p.a. (fixed) you will repay £151.08 each 30 days. You will repay £97.16 in interest, a £5 transmission fee and £302.16 in total.
Representative example: Borrow £200 for 28 days. The total charge for credit is £61. Interest is fixed at a rate of £61 per £200 loan (326% per annum). The total repayable is £261. 1734% APR Representative.
Representative Example: Amount of credit: £100 for 30 days. One total repayment of £240.00. Interest: £24.00. Interest rate: 292% pa (fixed). 1270% APR representative.
Representative Example: Borrow £600 and pay £95.37 per month for 12 months at a fixed interest rate of 140% per year.1 The total charge for credit is £544.44 (all interest). The Total Repayable is £1144.44 278% APR Representative.
Representative example: Amount £100 borrowed for 30 days. Annual interest rate of 287.5% (fixed). Total amount repayable in one repayment is £124.00. 1269.7% APR Representative.
Representative Example: Total amount of credit £80, duration of the agreement 28 days, rate of interest 292% per annum fixed, total amount payable £97.28. Representative APR 1309.2%
Representative example: Amount of credit £200 for 60 days. Total amount repayable £313.49 (in 2 equal payments). Interest £108.49. Interest rate 360% (variable). Transfer fee £5.00. Representative 1,334% APR.
Here we have laid out some important information about the practices employed by the many payday lenders that we list here on swiftmoney.com. To learn about the specific practices and exact charges applied by your chosen payday loan lender, you will need to visit and check their website and read their charges/terms and conditions.
Swift Money always endeavour to be as open and transparent as possible when listing payday lenders on our price comparison tables. All data is checked for accuracy at least once per month to ensure that all figures are accurate and up to date. However we do encourage you to check the pricing when applying for a payday loan with the lender directly.
Before taking out a payday loan you should always consider wether you really need to borrow the money and wether this type of credit is the most suitable for your requirements. If the loan you require would be better suited over a longer period with multiple repayments then a payday loan would not be the ideal product.
Since Swift Money was launched in 2008 we have helped to provide over 250,000 people in the UK with a short term loan. Due to our quick, efficient and transparent service, our customers look to us whenever they are in need of a quick financial boost. One of our most successful marketing techniques is via word of mouth with an average of 9.7/10 customers claiming that they would recommend Swift Money to their friends and family.