Interest and Fees

Cost of credit

The only charge for a loan that is repaid on time or early is the interest charged at 290% pa.

The total repayment amount is based on the amount of credit plus interest, no other fees apply.

Costs in the case of late payment

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 pay interest at the rate of 290% pa on the outstanding balance, calculated on a daily basis from the agreed repayment date until the date your loan is repaid in full.

We will cease to add interest to your account 60 days after the agreed repayment date and we will cap the total cost of your loan at the lower of 100% of the amount borrowed or the amount owed 60 days after the agreed repayment date.