Here at PaydayLine we keep ensure our lenders keep their charges on their payday loans online very simple indeed. You are able to apply for Payday Loans online for any amount from £750-£1000. You must remember that this loan needs to be paid back on your Payday. Our lenders' payday loans online work on a flat rate fixed fee, they do not add administrative costs or set up costs, that is all included in the one off interest they charge.

The Representative APR is 1737% (variable). As an example, a loan of £200 taken for 28 days would require payment of £250, the interest would be £50 for a loan with an annual interest rate of 1737% (variable).

Representative 1737% APR (variable).

Now you will hear the term APR, this stands for Annual Percentage Rate we have to put a Representative APR on all our lenders' payday loans online this is an OFT regulation, however, we feel using this figure to compare  payday loans online which you take out for a month or so unfair as that is 1/12th of a year.
You will be told what the Representative APR is on your loan when you apply.
In most cases taking payday loans online is much cheaper than paying overdraft penalties, bounced cheques or unpaid bill charges.

Comparing Payday Loans online and Unsecured Personal 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.