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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 cashasap.co.uk 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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WARNING: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

How much would you like to borrow:

£150
£300
Your repayment date is:
Total amount to be repaid:
£ 363.97
Annual percentage rate:
2573 % APR

Representative Example: £150 loan for 20 days at a fixed interest rate of 290% pa. Total amount payable is £173.84 in one single repayment. This is based on the amount of credit plus interest, no other fees apply. Representative 1376% APR

Representative Example: £250 loan for 3 months at a fixed interest rate of 290% pa. Total amount payable is £351.31 in monthly instalments of £123.06, £124.38 and £103.87. This is based on the amount of credit plus interest, no other fees apply. Representative 1297% APR


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