Will I be charged interest?

Because our loans are meant to be from pay cheque to pay cheque, we are in no position to gain significant interest. However, short term loans are unsecured and are therefore considered to be a risk to any company, so all our loans come with interest. There is interest on any loan, but these loans are small enough that any interest is manageable in comparison to the loan.

It is easy for people to get carried away when they receive a loan. At PayDay Loans, we urge our clients not to use these loans to keep up with their social lives, but rather to be responsible and ensure that they can cover costs when they are in a tight situation. PayDay Loans are not a reliable source of income in the long term.

In conclusion, while you will be charged interest, you will only ever feel the effects of the interest if you default on your loan. If your payment is up to date, you will barely realise that you are paying interest.

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