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REPRESENTATIVE EXAMPLE. If you borrowed 2,000 over a 12 month period and the loan had a 3 arrangement fee (60), your monthly repayments would be 189. 12, with a total payback amount of 2,269. 44 which including the 3 fee paid from the loan amount, would have a total cost of 329. Representative 29.
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Some borrowers, however, use Payday Loans for several months, which can be expensive. Payday Loans (also referred to as Payday Advances, Cash Advances, Deferred Deposit TransactionsLoans) and high-interest loans should be used for short-term financial needs only and not as a long-term financial solution.
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