Hour Payday Loan Charges
Hour Payday Loans will NOT charge you a fee to make an application for a loan.
Repayment and Interest Charges
We work with one of the largest selection of UK Payday Loan Lenders – so you stand the best chance of being approved with Hour Payday Loans than anyone else. Therefore specific interest rates will vary across lenders – discuss this with the lender that approves you.
Generally you will be charged £25 for every £100 borrowed. So, a £300 loan will cost £375.
The APR for a Payday Loan is often seen as high. However, an APR is a yearly calculation of interest. A Payday Loan will only be borrowed over a maximum of 30 days (until you next get paid) so the APR may not give you a fair reflection.
Rest assured that we are constantly making sure we offer our customers the cheapest Payday Loan rates in the UK.
Loan Terms
Hour Payday Loan can only offer quick loans up to £1,000. However, make an application at Loan Machine and they can offer up to £100,000 for homeowners and £15,000 for tenants or customers living with their parents.
Below is an example of the typical finance charge on a payday loan:
Credit Rating
Loan Amount
Finance Charge
Total Amount Payable
Good
£100
£20
£120
Average
£100
£22.50
£122.50
Poor
£100
£25
£125
