Best Payday Loans Companies

The biggest issue in current time is money. If you are not suffering from a money problem, then you are the luckiest or rarest person. Everyone needs money in today’s time. Likewise, if you have 10 Thousand, then you need another 10 thousand like that if you have million, then you need another million. So we can not say that the millionaire is not suffering for money. We know the problem, but there are solutions also available for this problem. There are many types of loan available, but here we will discuss Payday loans only.

What is a Payday Loan?

A Payday loan is basically the same as other loans, but it is for small amounts and with a higher rate of interest.  It is easy to opt. A payday loan is also known as Advance cash loans. If you do not have a job, you will not get any payday loan as it is totally based on your paychecks.  You can get a payday loan quickly from an online merchant or any offline merchant. Here below, we have enlisted a few companies who are providing Payday loans.

Obtaining a Payday Loan

  • At the very first you will have to decide that you want to take a payday loan from any online or offline merchant.

  • Keep your current jobs or works paychecks with you. As the lender will ask for it.

  • The amount will be based on your current credit.

  • As it is the payday loan, you can also pay daily from your daily wages.

  • Once you agree with all terms, you will get your very first payday loan ASAP.

Payday Loan Interest

  • The interest is very high in a payday loan. Because it is easy to take and the main thing everyone takes a payday loan in an emergency only.

  • Once you see the interest rates its vary from lender to lender.

  • The minimum interest which we have observed is 124%.

  • But if you can repay your loan amount before the deadline, you can save some bucks.

  • If you cross the deadline, then the penalties going to give you a shock. The penalties are so high in payday loans.

Best Payday loans companies?

These are the best companies, according to us, who are giving payday loans in Australia quickly. Before taking any kind of loan, you must read terms and conditions, or you will be in trouble. Also, the late payment of the loan will cause you a lot of penalties. Check below top payday loans companies.

Lending Stream

Loan Amount:
Minimum: 50£
Maximum: 1500£

Loan Term Duration:
Minimum Term: 1 Month
Maximum Term: 6 Months

Repayment for 100£: 124£

Representative APR: 1333%

QuickQuid

Loan Amount:
Minimum: 100£
Maximum: 1000£

Loan Term Duration:
Minimum Term: 1 Month
Maximum Term: 3 Months

Repayment for 100£: 124£

Representative APR: 1294%

Mr Lender

Loan Amount:
Minimum: 100£
Maximum: 1000£

Loan Term Duration:
Minimum Term: 1 Month
Maximum Term: 6 Months

Repayment for 100£: 124£

Representative APR: 1256%

Swift Sterling

Loan Amount:
Minimum: 100£
Maximum: 1000£

Loan Term Duration:
Minimum Term: 1 Day
Maximum Term: 31 Days

Repayment for 100£: 29.98£

Representative APR: 1298%

Safety Net

Loan Amount:
Minimum: 100£
Maximum: 500£

Loan Term Duration:
Minimum Term: No Min
Maximum Term: No Max

Repayment for 100£: 0.8% per Day

Representative APR: 68.7%

UncleBuck

Loan Amount:
Minimum: 75£
Maximum: 1000£

Loan Term Duration:
Minimum Term: 29 Days
Maximum Term: 29 Days

Repayment for 100£: 134£

Representative APR: 1249%

MyJar

Loan Amount:
Minimum: 100£
Maximum: 3600£

Loan Term Duration:
Minimum Term: 1 Month
Maximum Term: 12 Months

Repayment for 100£: 124£

Representative APR: 788%

WageDayAdvance

Loan Amount:
Minimum: 80£
Maximum: 750£

Loan Term Duration:
Minimum Term: 21 Days
Maximum Term: 57 Days

Repayment for 100£: 124£

Representative APR: 1233%

SatSuma

Loan Amount:
Minimum: 100£
Maximum: 1000£

Loan Term Duration:
Minimum Term: 13 Weeks
Maximum Term: 52 Weeks

Repayment for 100£: 143£

Representative APR: 535%

OnStride

Loan Amount:
Minimum: 150£
Maximum: 5000£

Loan Term Duration:
Minimum Term: 6 Month
Maximum Term: 12 Months

Repayment for 100£: 111.67£

Representative APR: 220%

NOTE: Representative Example: Amount of credit: £350 for 6 months at £100.93 per month. Total repayment of £605.55. Interest: £255.55. Interest rate: 220% pa (fixed). 651.4% APR Representative. Likewise, it is same for all companies. You can calculate according to its interest rate and duration.

F.A.Q. Best payday loans companies in London

How do I find the best payday loan in London?

This is an actual fact that this kind of loan people take in emergencies only. But before taking it, you must check the lenders as payday loans are very popular in the UK. So many lenders provide payday loan very quickly. Once you got your requirement, you can go to any lender and take a payday loan very fast. You just have to see one thing that you are taking the loan from best lender. Because there are many lenders who claim to give the best offers but that is not the fact. You always try to look for best offers which are available and beneficial for yourself only.

What are the best payday loans for people with bad credit?

There is some specially designed loan for bad credit people. But, once you take the loan and repay it within the deadline so your credit score will be okay. So the lender will have to take the risk once by providing loan first time. If you have a bad credit score, they must focus on new companies or lenders who are offering payday loans. As a new lender will look forward to gaining new customers so there is the chance that you will get an easy payday loan with a bad credit score.

Can I get two payday loans at the same time?

It is not a great idea to take multiple loans at once. But in emergency cases, you can take more than one loan. In a payday loan, there are no specific rules that you can not take more than one loan. But once you take multiple loans, you are stuck with a lot of interest to repay. You will have to pay various instalments at once so it can be a big issue for you. So take your loan and decision wisely.

How fast are the best London loans?

The process of the payday loan is very straight forward. It requires some personal information proofs to get started. Now once you have submitted all your personal details which were needed now, you are good to go. You will receive your Payday loan in few hours.

A payday loan will take 2 hours to 24 hours to get credited into your account. So a minimum of 2 hours you will have to wait in a few conditions it can take up to 24 hours, but that is rare.

Can I pay a payday loan off early?

If you can, then it is possible. Yes, many lenders provide this facility that you can repay your payday loan before the deadline or at the early stage. It will help you to reduce the interest amount, and you will have to pay a lesser amount than actually you were supposed to pay. So it is always a good idea to pay off your loan early.


What happens if I can’t repay my payday loan?

If you think that you can not pay your payday loan instalment then directly contact the lender. Explain the problem so you can get some extra day to repay.  In some cases, you will find that you will have to pay penalties, but some lenders allow 1 or 2-day late repayment. One thing you must remember that in any condition you will have to repay your loan else the lender will get in trouble.

Who are the Top 10 Payday Lenders?

According to us, We have made one list which is consist of top 10 Payday lenders in London. You can check the below list to get an idea about it. Before making the choice of any, please go to their website and must check their terms and conditions.


Can I find the best lender with no credit check?

No, but there are chances. As you already know, loans are given on the based on credit only. So if you do not have any credit than you can not apply for any loan. But everyone has some kind of credit. You can say that you must have bad credit which is also helpful for one payday loan. Now you just have to find one lender who is giving loans to bad credit holders. After that, you can take a small amount of loan. Remember that once you take small payday loan do repay it within the deadline so you will gain some credit score. Like that you can quickly boost your credit score.

Conclusion

There are a few advantages of taking payday loans. But, instead of taking a payday loan, you should go for any kind of personal loan as it will have a low-interest rate. And you will get an excellent duration to make repayment. So next it is up to you for which you go for. If you feel this article is helpful, then please share it with your friends and family. And if you want read more tech articles then you can comment below.

About RJ Frometa

Head Honcho, Editor in Chief and writer here on VENTS. I don't like walking on the beach, but I love playing the guitar and geeking out about music. I am also a movie maniac and 6 hours sleeper.

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