Payday Instant Loans – Repayment Charges


We at Instant Payday Loans Ltd  will NOT add surplus charges to you upon your application nor added fees than which we advertised below on our table.  Our flat rates are fixed and to reiterate, there will be no extra charge.

You will have to pay extra interest on top of your interest if you were to extend your  loan for a year in which will be shown by the APR.  Payday loans UK  is primarily intended to be repaid within 31 days after an application has been accepted.

Still On The Fence About APR?

When you opt to apply for a no credit check payday loans, you can simply apply for any amount that suits your needs (except for first time borrowers) within the ranges from£50 – £1,000.  For those of who are applying for the first time will be accepted for £500 or less.

The Amounts You’d Be Expected to Pay Back on Your Payday Loans

When you borrow £100 for 28 days, you pay back a fixed rate of £20.10 interest.

The table below exemplify this, so that you can clearly understand how much you will be expected to pay back at the end of your loan term.

Borrowing Amount Repayment Amount
£100 £120.10
£200 £240.20
£300 £360.30
£400 £480.40
£500 £600.50
£600 £720.60
£700 £740.70
£800 £860.80
£900 £980.90
£1000 £1201.00

Representative APR 1261% (variable)

APR percentage can be difficult to understand at certain times, where there are costs in which will need to factor in such as setup fees administrative costs whilst in conjunction payday loans bad credit are meant to be repaid within 31 days generally.

Largely, same day payday loans are usually view as a cheaper alternative than having to deal with overdraft charges, incurred penalties for late payments for bills or bounced cheques.

Comparison between personal unsecured loans and payday loans:


An Overview of Personal Unsecured Loans VS. Payday Loans

See the example for an unsecured loan for the amount of £3,000 borrowed for the time period of or more than 3 years:

–      Repayments expected to be made monthly would be around £151.19

–      The total sum to be repaid would be equal to £5442.84

–      Representative APR 53.9%

–      Actual Repayment: 55.1%


The unsecured loan has been spanned over the time of 3 years upon which the APR is small in portion to a payday loan but in fact the actual cost of repayment is much higher e.g. £5442.84 for an amount of £3,000, which will then determine the APR  at 55.1% in comparison to 25% (actual cost of payday loan UK).   When pay day loans no credit check are borrowed 25% is the applied charge, this is only in effect for 31 days agreement.

Please ensure that short term payday loans are not meant to be borrowed for long periods at a time, they are best suited for short term borrowing.