What are your payday loan fees?

GreatPayday.co.uk charges £25 for every £100 you borrow. So, if you borrow £125 and pay us back £150 or you borrow £225 and pay us back £275 and so on.

Why does your APR seem so high?

The rules and regulations that govern traditional loans do NOT apply to Payday Loans. A traditional loan is extended over a year or more so Annual Percentage Rates (APR) are typically much lower. A Payday Loan on the other hand is usually paid back within 31 days, so an Annual Percentage Rate is not the best way to determine how competitive rates are on short-term loans such as a Payday Loan.

You need to look at a Payday Loan differently than you would a loan for house or car, which can take years to pay off. Instead look at the total amount you will have to pay back to determine how competitive a Payday Loan company really is.