Should I use a payday loan to pay for a holiday?

24th August 2018

Short term credit is generally intended for emergency situations, when you need an advance on money that you will be able to repay in the near future. The interest on short term and payday loans is high, so it is not advisable to incur these costs as a result of luxury spending or things you don’t really need, particularly if your financial situation is tight.

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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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