Payday Pig ® Loan Costs
At Payday Pig ® you can borrow between between £100 and £1,500. We are a loan broker and have the top UK loan providers on our panel, and as such the cost of a loan will vary depending upon the loan provider we match you with.
Payday and short-term loans are intended to be used for short-term borrowing requirements.
Payday Pig ® does not charge you a fee for the service we provide and we never take money out of your bank account. We have the top UK loan providers on our panel, and because they give us a fee for introducing you we don't think it would be fair to charge you as well.
Amount of credit: £500 for 12 months at £79.09 per month. Total amount repayable of £949.08. Interest: £449.08. Interest rate: 140% p.a. fixed*. 278% APR Representative. Rates between 9.9% APR and 1295% APR.
The duration of your loan will affect the calculated APR which will be presented to you during the application process.
APR stands for Annual Percentage Rate. APR is a part of all types of credit loans, whether they are payday loans, credit cards, personal loans, mortgages or any other types of credit agreement. By law we must state a representative APR that illustrates how much it may cost to borrow money over the full term of a year.
However payday loans are designed to be paid back within 31 days, not a full year. This is why the APR figure is so high.
The Representative APR and charges will vary from lender to lender so please refer to the lenders website you are matched with for their rate. We have taken the average APR from our lender panel to illustrate a fair representative loan example.
We Are Committed To Responsible Lending
We will not encourage you to take out a loan we think is unsuitable for you. You can read our responsible lending policy here.
Representative Example: Amount of credit: £500 for 12 months at £79.09 per month. Total amount repayable of £949.08. Interest: £449.08. Interest rate: 140% p.a. fixed*. 278% APR Representative. Rates between 9.9% APR and 1295% APR.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.