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Payday Loan Lenders: SafeLoans (PaydayOK)
Widget Area: [Content Item] Above ~~~ Widget Area: [Content Item] Left ~~~ Widget Area: [Content Item] Right ~~~ The content itself ~~~SafeLoans is an established UK payday lender that provides a unique service that groups them more towards being a cash advance lender than a payday loan lender. SafeLoans, also branded as PaydayOK, charge interest on each day the cash is borrowed for and they allow you to take out the loan for the specific number of days you would like to (similar to Wonga). From carrying out some tests, SafeLoans worked out as one of the cheapest payday loan lenders (or cheapest cash advance lenders) around today. On a 100 loan, for 30 days this interest would reach 29%, but for 14 days that stands at just over 12% and for 7 days we are looking at around 6% interest. In comparison to Wonga, a 14 day 100 loan would cost 20% interest so the 12% provided here is much cheaper.
The difference to Wonga is that their charges will always include the transmission fee that gets the loan to you in 15 minutes. This same super-fast payment would cost an additional 15 here, whilst the same day option would cost an extra 10. The BACS payment takes a few days to clear but will cost nothing and by taking this option you will be receiving one of the cheapest loans in this industry. If you wish to apply with SafeLoans then remember to select your payday for the particular day that you wish to pay the loan back on; if you dont do this then you can always settle the loan on any single day though. Just to mention, you have to 21 years old and be taking home 800 net each month. There is usually no need for any faxing and as with all the majors you can expect a credit check to be taken. Much praise goes to SafeLoans for providing one of the cheapest cash loan services here in the UK.
Interest for a 100 Payday Loan:
Variable. This was covered in the opening passage. For 7 days you would pay just 6% interest, for 14 days just over 12% and for 21 days just over 20%. For further charges, you can use their payday loan calculator found in their Charges section.
(tags: cheapest payday loan lenders, payday ok, safe loans ltd, uk cash loans, very cheap payday loans)