What are same day loans?

Same day loans, sometimes referred to as instant loans provide immediate funding for sudden needs. In the UK, same day loans fall under a category known as short term loan because they are repaid over shorter amounts of time than traditional long term loans. While some direct lenders offer the same day lending options on larger credit sums, this type of advance is typically reserved for relatively small amounts. Online same day loans from Moneyboat are available in amounts of £200 to £800, or £1500 for existing customers, subject to passing our credit and affordability checks. Loans are repayable over a minimum term of 2 instalments and a maximum of six months. The minimum instalment duration for the first instalment is 5 days. Customers may payback their loan early with no money charged in penalties or fees.

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Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. 

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