What is buy now, pay later?

08th October 2020

Buy now, pay later, or BNPL, is a new face for an old type of loan service as BNPL is essentially a catalogue loan. It’s a very popular way for people to purchase products while online shopping as buy now, pay later allows consumers to spread the cost of the purchase over several instalments. At first, this may seem like a great way to shop, however, like most loan services, buy now, pay later schemes usually charge an interest rate which means you can end up paying far more for the product than you need to.

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WARNING: Late repayment can cause you serious money problems. For help, go to

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: £200 loan for 6 months at a fixed interest rate of 290% pa. Total amount payable is £359.71 in monthly instalments of £74.65, £71.73, £64.05, £58.76, £49.75 and £40.77. This is based on the amount of credit plus interest, no other fees apply. Representative 1266.9% APR

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