Are there any fees for your loan service?

Provided that you comply with the terms of your loan agreement, the only charge for your loan is the interest on your loan repayment at the rate specified in your loan agreement.

If you miss your repayment date, or breach the terms of your agreement, a default fee may apply:

  • A £10 Default Fee will be charged on the first calendar day following your repayment date if you do not repay the total amount payable in full on the agreed repayment date.
  • You must also pay interest at the rate of 290% p.a. on the outstanding balance, calculated on a daily basis from the agreed repayment date until the date it is paid in full. We will cease to add interest to your account 60 days after the agreed repayment date (or any extended loan repayment date we may grant you) and we will cap the total cost of your loan at 100% of the amount borrowed.


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