Does APR Matter On Short Term Loans?

15th June 2019

If you’re looking for short term loans, you might have noticed that the APR seems higher than for other forms of loans. We at have put together this guide to help you understand APR, how to use it and whether it matters for your short term loan.

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How much would you like to borrow:

How long would you like it for?
3 months
6 months

Your monthly repayments are:

Total amount to be repaid:
Annual percentage rate:
  % APR

Representative Example: £180 loan for 3 months at a fixed interest rate of 290% pa. Total amount payable is £261.51 in monthly instalments of £98.61, £88.60 and £74.30. This is based on the amount of credit plus interest, no other fees apply. Representative 1266.6% APR

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