Your loan - Key Information

It is important that you read this information before signing the Application Form for your loan. This document, together with the SECCI and the Application Form, sets out the information you need to assess whether the loan is suitable for your particular needs and financial situation, and to help you understand the key risks involved in obtaining a loan. Please take your time to read this, and if you have any questions, or if you would like any further information or explanations about the loan, please see our FAQ page at If you cannot find the answer to your question on our FAQ page, please contact us by sending us an email to or by writing to us at APFIN Limited, 3rd Floor, 12 Gough Square, London, EC4A 3DW or by calling us at 0845 094 1905.

Use of Your Loan

Your loan is a short term credit facility, intended to provide you with funds for a short period until you receive your next salary payment. loans have a relatively high cost of borrowing compared to traditional longer term sources of finance. Therefore, entering into a loan is not suitable to support sustained borrowing over long periods and would be expensive as a means of longer term borrowing.

You should not take out the loan if you believe you will be unable to repay it on your agreed repayment date. If you do not repay your full balance on the repayment date, you will be in breach of the Agreement and will incur fees and charges (see below). If you require a loan for a sustained period, there are more suitable alternatives available from other sources.

What you will pay under the Agreement

You will be required to repay the full amount of your loan plus interest (as well as any fees or other charges which you may have incurred) in one single repayment on the repayment date specified in your loan agreement. Please see the SECCI for further information on our fees.

We will collect the payment automatically from your debit card on your repayment date. We will not make more than two attempts to collect the payment and we will not attempt to collect an amount that is different to the full amount due unless we have specifically agreed that with you.

You can cancel the continuous payment authority (CPA) that we use to collect your payment at any time. Please contact us if you wish to do so. Please note it remains your responsibility to repay your loan in full and on time so if you cancel the CPA you must still make your payment by other means. We can accept payment by debit card, bank transfer or cheque.

To assist you in understanding the cost of the loan, please see the example below:

Amount borrowed: £100

Duration: 30 days

Interest Rate: 290% p.a.

Total repayment: £123.84

APR: 1,248%

Failure to keep up with repayments

If you fail to repay your balance in full by the date specified in your loan agreement, your debt will continue to grow. Interest at 290% p.a. of the outstanding balance is payable from your loan repayment date until your outstanding balance is repaid in full. 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.

If you don't keep up with your repayments, there may be other serious consequences, such as:

  • We may report any non-payment or late payment to credit reference agencies which may result in an impaired credit rating, meaning that credit may be more difficult and expensive to obtain in the future;
  • We may bring legal proceedings against you in respect of any unpaid amounts which are owed to us under your account;
  • We may sell the debt and we or the purchaser may apply for a county court judgement (decree in Scotland) and, in certain circumstances, we or the purchaser may apply for a charging order (except in Scotland) on any property you own. This would mean that the debt would be paid out of the sale proceeds when you sell the property;
  • Exceptionally, we or the purchaser may apply for an order to sell your property (even though your loan is unsecured);
  • An order for bankruptcy may be made.

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

Your right of Withdrawal

You will have 14 days to withdraw from the Agreement without having to give any reason, beginning on the day after the Agreement has been made. You can let us know that you want to do this by emailing us at, writing to us at APFIN Limited 3rd Floor, 12 Gough Square, London, EC4A 3DW or by calling us on 0845 094 1905.

If you withdraw from the Agreement, you will be required to repay any credit we have already provided to you plus interest at the rate set out in your loan agreement from the date you received the loan until the date you repay it to us. This must be done as soon as possible and no later than 31 days after giving us notice of withdrawal. Unless you tell us otherwise, we will assume that you wish to repay the loan on the original repayment date and we will debit your bank account on this date. Please see the SECCI for further details.

Specific features about your loan which you should be aware of

We may (in our sole discretion) allow you to extend or "rollover" your loan. Please note that, if we do, the associated costs of borrowing are likely to be significantly higher than other forms of lending which are designed for borrowing over sustained periods. If you are struggling to repay your loan, you should go to for free and impartial advice. If you rollover your loan, interest will continue to be added to your outstanding balance on a daily basis until you repay the loan in full. We may require you to pay the accrued interest before the term of your loan is extended. We will not allow you to rollover your loan more than twice.

For example, if you take out a loan of £100 for a period of 20 days, you will be required to pay the following after each additional 20 day rollover period to fully settle your loan:

Amount of loan


Repayment on the original repayment date

Repayment after Rollover 1

Repayment after Rollover 2

No further Rollovers possible







Please note that the charges shown in the above table apply only where you have contacted us prior to your repayment date and we have agreed to extend your loan. If you miss your repayment date, you will incur default fees (see "Failure to keep up with repayments", above) which mean the amount you repay will be much higher than what is shown in the table.

We may contact your employer, the details of which are named in your application, at any time as may be reasonably required by us to verify any of the information provided by you in relation to the Agreement and the loan.

If you do not pay off your balance in full, payments we receive are applied in the following order to: (a) interest; (b) capital; and (c) fees and charges.