I was recently notified of changes over at SafeLoans and I have to say that I am very impressed with the fresh design and upgrades. This new design is accessible via the SafeLoans site, but they did also operate via the PaydayOK interface (now removed). One such impressive change is that you now can choose the specific day to borrow cash between 1 and 31 days alike with Wonga. There is a neat payday loan calculator on the front page that is easy to follow with the 1% interest charge per day, so a £100 loan for 7 days for example would cost £7. SafeLoans provided a free BACS payment, but these payments are no longer legal of course. This means that you will have to opt for one of two further options for a same day payment at an extra £10 and for an hourly payment there is an extra £15 payment.

The £10 or £15 charges required here unfortunately ramp up the overall cost here and such charges are free over at PaydayUK and QuickQuid that perhaps prevents SafeLoans from becoming one of the major lenders at this time. The loans available here start small at £50 moving ranging to £400 (£750 return). A while back there was a minimum age of 21 in place for customers, but this has now been reduced to 18 years of age. There is usually no need for any faxing and as with all the majors you can expect a credit check to be taken. Account management is now in place, which is yet another great touch. SafeLoans are also payday loan trade association members and they have secure SSL protection in place. For the loan example displayed below a 7 day loan term has been used alike with Wonga, due to the fact that you can choose the exact loan term.

Charges for a £100 Loan (7 day term example):
Charges: £7/£100 + £10 transfer fee = £17/£100
Charges: £7/£100 + £15 transfer fee = £22/£100 (second transfer option)

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