We charge £25 per £100 borrowed – nothing more!
There are no administrative costs to set up the loan.

APRs are a good way of comparing similar products but are not effective when comparing different products. The following table
demonstrates this:

As you can see the APR for the two installment loans are the same but the actual interest repaid as a percent of the loan is hugely different
– and much lower with a payday loan.

You can also compare a payday loan against an unauthorised overdraft. Banks do not have to quote APRs for charges on
unauthorised borrowing but the following example shows how the APR works for going just £5 over your overdraft limit and being charged
just one £25 fee.

This is why we focus on telling you very clearly how much you repay in total rather than on the APR.