January 20, 2014

100 Payday Loans

100 Payday Loans

If you need £100 payday loans, it will mean you are on the path of responsibly borrowing a payday loan and not opting for a higher amount that you cannot borrow. There are many payday loans lenders offering such £100 payday loans and in some instances offering you more than what you require. Our advice is to stick to what you can afford when repaying back the outstanding balance. Just remember, by applying, signing the contract/agreement, you are required to repay on time of the full outstanding balance.


£100 payday loans may carry a higher interest charge and fee when borrowing, as the loan amount is lower amount compared to the average loan borrowed in the UK. As it is £100 and not anything above £250, the interest and terms may be from £27 per £100 borrowing with a faster payment option of £15. A Faster payments service does not depend on the amount borrowed; it is normally static of around, an average of £15 per transaction.


Borrowing responsible is the advantage because it allows you to get out of a bad financial situation and help you not to get in to a bigger one after. If you borrowed the loan amount you need such as £100 payday loans, you will be able to fund the unexpected bill with the loan and repay it comfortably on the date of repayment.


A small scenario of an example we put together in order to convey what payday loans are suppose to be used for.


Customer David borrows £100 with a repayment of £127 till his next payday in 20 days times. He has borrowed £100 in order to pay off an unexpected telephone bill which he had used just recently whilst he was abroad.  As you would be aware of, not paying your telephone bill due on the due date would require you to pay a further late payment fee of £12 on average with a small mark on your credit record showing the miss payments. David has avoided this by paying the full amount of £89 which saved his a dent on his credit record, £12 late payment charge and keeping his telephone line active.

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