Quick & Secure Loan Application.

Representative 1734% APR Example: Borrow £80 for 28 days and repay £100. Interest rate of 25% with £20 payable. Fixed Representative APR of 1734%

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

  • Borrow up to £1000
  • Fast easy application
  • Secure and confidential
  • Same day deposit
  • No hidden costs
  • Friendly helpful support
Payday Loans carry a fixed flat rate fee and nothing more.
You can apply for any amount between £80 and £1000. There are no hidden or administrative costs: For every £80 you borrow you pay £20.
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Cost of credit 25% for a 28 day loan

The calculated APR% depends on the duration of your loan and will be presented to you when you apply.

Representative 1734% APR

The APR% for Payday Loans may seem quite high at first glance. Taking into account that all setup fees and administrative costs are included and since most Payday Loans are paid over a period of no more than 70 days a yearly APR% might be misleading. In most cases taking a payday loan is much cheaper than paying overdraft penalties, bounced cheques or unpaid bill charges.

Comparing Payday Loans and Personal Unsecured Loans

A typical unsecured loan of £5,000 borrowed over 60 months:

• Payments would be approx. £135.16 per month.
• Total repayment £8109.88
• Representative APR 23.1%.
• Actual Repayment: 62%.

Since this kind of loan is spread over 5 years the APR is indeed small but the actual payment over this period would be £3109.88 for a £5k loan which is 62% compared to 25% actual cost of credit of a payday loan. Note the actual APR that you pay will depend on the lender that accepts you.

Do I Qualify for a loan?.
We help people with good or bad credit history.

Because we have a large panel of payday lenders that will consider your application they welcome homeowners, council tenants, private tenants, housing association tenants or people living with parents.

These are our minimum requirements:

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PayDay Loans FAQs.
We help people with good or bad credit history.

How long does it take to apply and receive my funds?

In the vast majority of cases it only takes a few minutes to approve an application including signing for it. However, in some cases it may be necessary for you to provide additional information but even when this happens it still should be taken care of in under 25minutes.

How much can I borrow?

You can borrow anywhere from £100 to £1000 depending on your personal circumstances. Money can be in your account today!

Why is the APR so high?

Annual Percentage Rate or APR is a common method for comparing finance that is lent over a period of 12 months or more but a Payday loan is set of a period of 1 month and therefore can be misleading for comparison purposes.

The below table demonstrates this:

Loan type Loan Amount Months Total Repayable APR Actual Interest
Installment £2000 36 £2973.96 16.9% 49%
Installment £2000 60 £3875.40 16.9% 94%
Payday Loan £1000 1 £1250 1355% 25%

What is your eligibility criteria?

If you are 18 or over, in full time employment earning £750 per month or more, you are likely to be eligible. You will need a bank account that accepts direct debits and we are required to prove your identity.

Why do you need this information?

As a responsible lender we are required to verify that you are who you say you are. That you are in full time employment and can afford to repay the loan. That it is your account we are putting the money into.

Do you use credit scoring or credit reference agencies?

No we do not use credit reference agencies to score your application

I have bad credit history – can I still apply?

Absolutely, we are not basing our decision to lend to you over the long term (12months or more) therefore we are only interested in your present circumstances.

I don't have a debit card – can I still apply?

It is not always necessary to have a debit card attached to your bank account, please ask us for more details.

How do I apply?

Complete our quick and easy online form. If you are approved you may be asked a few quick questions by one of our trained operatives and then sign your loan agreement. That's it, we take care of the rest.

When will I get my funds?

We will transfer the funds straight away; if it's before 3pm then you will have your funds today. If not, then they will be in your account on the very next working day.

How will I get my funds?

It will be paid directly into your bank account.

How do I pay back my payday loan?

Easy as pie, we will take your payment via direct debit on your next payday.

Can I defer my Payment?

Yes – although after deferring the payday loan twice we will ask you to start reducing the balance. Deferral will incur new charges for every month the loan is deferred – but still at our fixed rate – there are no additional charges.

What if I have problems paying?

We understand that people's circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help. The most important things to note are:

Don't borrow money you don't think you can pay back

  1. Don't borrow money you don't think you can pay back
  2. Talk to us and we will help as much as possible

Please let us know! We work very hard to keep our customers happy and it is always good to know when we've succeeded. Please email your comments to customers@onlinecashloan.co.uk

I am not happy with your service– what can I do?

Here at OnlineCashLoan, we do everything we can to make sure our customers get the best possible service. However, sometimes, we don't get things right first time.

If you're not completely happy with our service, we need to hear about it – that way, we can do something to put it right. Please email your comment to customers@onlinecashloan.co.uk

How do I stop receiving email and text messages from Fast Online Payday?

If you are receiving email and text messages from Closer Payday it is because the marketing permission box was checked when you applied for a short-term or payday loan with us.

So how does it all work?
Our approach is simple & clean with some fantastic service thrown in.
Our aim is to offer you access to speedy, affordable and effortless payday loans for those times when you need money now but payday is just a little too far away.
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    Complete Application Within a few moments we will let you know if you have been approved by one of the lenders on our payday panel.

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    Confirm Application Sometimes lenders are unable to confirm details submitted. If this happens to you they will ask you to forward some simple documentation to enable them to approve your loan.

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    Accept Loan Terms Sign your loan agreement electronically simply via the internet.

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    Funds in your account If you apply before 5pm Monday to Friday they could deposit into your account the same day.

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Remember though, a Payday Loan is repayable on the agreed payment date.

Are payday loans right for me?

Payday loans can help with various types of financial emergency. You can:

  • Pay those 'Final Demand' bills.
  • Organise emergency child care for your children.
  • Pay your MOT repairs - just in time!
  • Fix broken cars or household appliances.

How much money can I borrow?

You can borrow from £80-£1000 depending on your circumstances. To find out how much you can borrow complete our quick payday loan application form today!

You are charged £25 per £100 borrowed – nothing more!

There are no arrangement fees to set up the loan.

How do I repay my payday loan?

Repaying your payday loan could not be easier.

The lender simply debits the payment from your debit card on your payday for the agreed amount – no fuss and nothing further for you to do.

Can I defer my payday loan repayment?

Lenders do understand that occasionally people will need to borrow money for a second month. They call this a deferral. You will have to repay the charges and the lender will suggest you pay as much as possible to reduce further charges. If you feel you may need to defer your loan, please contact your payday loan provider directly.

Got a question? Contact us.
At Online Cash Loan, your input is essential to our business.

If you have any questions or comments regarding our services, company or web site, please contact us.

Our Customer Satisfaction people are here to assist you between 9:00am and 6:30pm Monday to Friday
Email: customers@onlinecashloan.co.uk
For corporate or advertising enquiries please email: customers@onlinecashloan.co.uk