The cost or fees of getting a payday loan or cash advance
Fees for payday loans and cash advances from Now Loans are low
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Cost and Fees of a Payday Loan Cash Advance
Payday loans / cash advances carry fixed flat rate fees and nothing more. They're completely transparent - there is no hidden cost and no set-up fee. We work with multiple lenders whose fees range from £25 to £30 per £100 borrowed. These charges are very competitive compared to alternative ways of funding a short term cash shortage (see below).
The total cost of your loan, including the necessary APR figure, will be calculated when you complete the short online form. This will also tell you which lender is able to provide the cash you need. Complete the form now.
You can apply for any amount between £80 and £1,000.
How does this cost compare?
It is useful to compare this cost to the fees that could be charged if you were to go overdrawn (unauthorised) for a few days - a recent study by Moneyfacts showed that the cost of going overdrawn by just £100 for only 2 days could cost up to £60. Going overdrawn by £100 for 10 days could cost you up to £215 in fees! And these charges are before fees incurred for bouncing cheques, etc. Using your credit card but only repaying the minimum monthly amount is also a much more expensive route to borrowing than a payday loan cash advance.
Payday loan companies are required to calculate the APR% for their customers even though the measure is inappropriate for 30 day (i.e. very short term) cash advances. It will be calculated when you go through the application process, but bear in mind it makes more sense to compare the cost to the fees for alternative means of short term borrowing mentioned above.
