Rates and Fees

You can reasonably expect finance charges for your loan to be between £10 to £14.75 for every £50 borrowed per pay period.Many of our lenders give you the choice to repay your loan over one or two pay periods.

In some cases our lenders allow new customers to qualify for up to £1,000*, while return customers can get up to £1500*.

Finance Charging Structure

Our lenders apply a finance charge to all loan transactions. These finance charges range depending on your individual loan terms and are determined by factors including your credit, employment and previous loan repayment history. 100DayLoans.co.uk’s lenders reserve the right to determine finance charges based on these above-mentioned indicators.

Should you use 100DayLoans.co.uk to apply for a payday loan, but are not satisfied with your finance rate offered by our lending partners, you may take the appropriate measures (making future payments on time, raising your credit score) to improve your chances of qualifying for a lower rate of financing in the future.

Repayment Procedure

At 100DayLoans.co.uk, many of our lending partners provide added leeway to determine when you must repay your payday loan.

Many of our lenders allow you to repay your loan after one period, which stipulates your finance charge and principle loan amount are to be repaid on your next pay period.

Another option offered by many of our lenders allows you to repay your loan after two pay periods. In this case, you will owe the finance charge on the date of your first passing pay period, then on your second pay period, you will owe the same finance charge as well as the principle of the loan.

Certain lenders working with 100DayLoans.co.uk do in fact allow you to make a prepayment on your loan, in this case your finance charge may be due up until the date of your determined payment period.

Representative Example: One-Period Loan

Below is a representative structure for a one-period loan, in which the loan is due the following pay period.

Credit Status
Excellent
Good
Average
Loan Amount
£50.00
£50.00
£50.00
Finance Charge
£10.00
£12.50
£14.75
Total Amount – Payable to Lender
£60.00
£62.50
£64.75
APR
819.12%
1410.33%
2222.46%

In some cases, you may pre-pay your loan and only owe your lender the finance charge on the date of payment. In this representative example, APR is calculated based on a 30-day period loan term.

Representative Example: Two-Period Loan

Below is a representative example for a two-period loan, in which a finance charge is due the following pay period, and an additional finance charge plus the full loan amount is due on the second pay period.

Credit Status
Excellent
Good
Average
Loan Amount
£50.00
£50.00
£50.00
Finance Charge
£10.00
£12.50
£14.75
Due at Following Pay Period
£10.00
£12.50
£14.75
Due at Second Pay Period
£60.00
£62.50
£64.75
Total Amount – Payable to Lender
£70.00
£75.00
£79.50
APR
819.12%
1410.33%
2222.46%

In some cases, you may pre-pay your loan and only owe your lender the finance charge on the date of payment. In this representative example, APR is calculated based on a 60-day period loan term.

The finance charges listed under both loan period term examples generally include all relative taxes and bank delivery charges. These finance charges may update periodically, as determined by our lenders, and we will update our site based on these changes as it becomes necessary. The finance charges associated with your loan will be explained within your loan agreement.

Additional Conditions

Should the circumstances arise where you cannot repay your full loan amount upon the end of its term, you could encounter additional finance charges from your lender. Some lenders may extend the length of your loan through another pay period. You may contact your lender and ask if they will roll over the balance into a new loan.

Although you may not be able to repay your loan in full to avoid a roll over, you may be able to reduce the additional finance charges by paying as much as you can afford at that time. The finance charges determined by your new, rolled over, loan may differ from the one associated with your original loan contract.

At 100DayLoans.co.uk, we urge consumers to practice responsible lending actions. Extensions on your loan agreement, beyond any repayment options, should not be used as a long term financial solution. If you choose to extend your loan, you will be subject to additional finance charges, based on those stated in your loan agreement.

Before deciding to take out a payday loan with any lender, make absolutely sure that you will have enough money to repay your loan when it becomes due – this includes the principle loan amount as well as the associated fees, interest and finance charges as outlined in your loan agreement – to avoid having to extend the term of your loan. In addition, taking out a second payday loan to cover the first one, to avoid defaulting or a loan extension, should not be used as an effective solution to managing your finances.

Penalties Based on Late Payments or Non-Payment

If you are late on loan payments, or if payments are missed altogether, you may be subject to loan fees and penalties that could increase your total loan cost. To avoid penalties, it’s best to make payments on or before the days they are scheduled.

Your lender will always provide the exact payment dates for your loan. If you’re expecting to be late on a payment, contact your lender immediately to see what payment options you have in order to avoid late or non-payment penalties.

Simplicity and Disclosure

In an effort to make your loan transaction as easy and stress-free as possible, 100DayLoans.co.uk attempts to provide all relevant information relating to rates, fees and payment structure up front, as specified by our partnering lenders. This way, you know what you can reasonably expect from your lender.

100DayLoans.co.uk is not a direct lender and does not apply any finance charges for our service, any fees applied to your loan agreement are determined by your individual financing circumstances by your lender. We take measures to ensure that the lenders who partner with us do in fact offer payday loans at a competitive rate compared to others in the industry.

100DayLoans.co.uk does not charge for our service. Other financial services similar to what we offer may charge extra fees which increase your out of pocket expenses, but at 100DayLoans.co.uk you are benefit from:

  • NO application fees
  • NO fast funding fee
  • NO monthly account charges
  • NO collections fees
  • NO postal charges

In most cases, if you pay your payday loan after the date it’s due, you could incur an additional finance charge, as stated in your lending agreement by your lender. Should you have insufficient funding in your account at the time of withdrawal, your bank may charge a Non-Sufficient Fund (NSF) fee. These charges are clearly represented in to all customers before signing the final payday loan agreement.

Consumer Safety and Regulations

Most payday loan providers follow certain practices including No Account Management and No Application Fees, but in what other ways does 100DayLoans.co.uk stack up to the competition?

Although the payment structures and estimates listed above are typical of most of our lending partners, we are consistently added new lenders, and regulations are always changing. In an effort to remain on top of these changes, 100DayLoans.co.uk makes frequent updates to the content within our site.

To keep our service safe, efficient and lawful, 100DayLoans.co.uk lenders abide by the Consumer Credit Act of 1974 as well as any other regulatory measures of England and Wales.