Flex Payday Loan
This is a short-term loan, whereupon you can borrow anywhere between £80 and £750 to cover your short-term needs. We can deposit your loan into your bank account by the end of the day*, with no fuss!
All you need to provide us with is your personal, contact, employment and bank details, and we can get you back on your feet with a payday loan.
Your loan is generally repaid on your next payday in one installment. However, if you feel that you are unable to meet the full repayment on your payday, we can simply defer your loan, meaning that you pay only the interest this month, leaving the full balance until the following payday.
The interest paid on this loan is simple; you pay back £125 for every £100 that you borrow. If you borrow £100 you repay £125, If you were to borrow £200 you repay £250 and so on - there really are no catches and no confusion.
Why choose a Flex Payday loan?
There are many reasons why customers choose a payday loan. Some people decide that a payday loan is the right choice because the application process is so simple. Some people choose a Flex Loans Payday Loan because the loan is usually deposited into their bank account on the same day.
Others choose our loans above anybody else’s because we are committed to responsible lending, and because our customer service team is on hand, ready to help, every step of the way.
Whatever your reasons for choosing Flex Loans, we are confident that you’ll be happy with our service and flexibility when it comes to understanding YOUR situation.
APR Comparison
There is a common misconception when it comes to payday loans. Sometimes it can be easy to assume that the interest charges are a little high at 25%. When we compare this with other forms of borrowing, it is easy to see that in actual fact, the loans that we offer still offer a value-for-money method of borrowing. ‘APR’ stands for Annual Percentage Rate. This is a figure which is commonly used by banks and so forth for comparing the interest rates of various financial products. The typical APR on a payday loan can be around 1845%. The better way of comparing this is to look at ACTUAL INTEREST AMOUNTS, as shown in the table below.
| Loan Type | Sum | Months | Total Due |
APR | True Interest |
|---|---|---|---|---|---|
| Installment | £2000 | 36 | £2973.96 | 16.9% | 49% |
| Installment | £2000 | 60 | £3875.40 | 16.9% | 94% |
| PayDay | £500 | ~1 | £625 | 1845% | 25% |
| Overdraft | £5 | 1 | £30 | 147359739444% | 550% |
As you can see, in real terms, our charges are very reasonable. We like to keep our interest clear and simple so that you know exactly how much you have borrowed and exactly how much you have to repay.