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

Simple Finance UK

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Simple Finance UK: Loan Rates

At Simple Finance UK we know Annual Percentage Rates or APRs can appear high. It's worth noting this represents the annual percentage rate across a whole 12 months. An instalment loan however is generally taken across a single month. Our example is a good way of understanding what is involved:

Representative Examples*

Up to £1,000

Amount

£100

Length

for 30 days

Interest

£24.00

Interest Rate

245.5% p.a. (fixed)

Total Amount

£124.00

Rep. APR

1192%

Over £1,000

Amount

£1,000

Length

for 30 days

Interest

£240.00

Loan Type

Personal loan

Total Amount

£1,240.00

Rep. APR

70%

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