What are Payday Loans?
Would bad credit history affect loan approval?
Is it possible to roll the loan over?
1. What are Payday Loans?
A Payday loan provides a cash advance to help you with any immediate financial problems. The loan can be used for any purpose and is usually repayable on your next payday. Our online payday loans require no faxing of documents, which allows you the convenience to apply from the comfort of your home or desk. With no credit checks, our Payday loans are particularly suitable for those with a poor credit history.
2. How much money can I receive?
We allow you to borrow from £80 to £750 into your account on the same day. Occasionally new customers will be limited initially to borrowing £300; on the successful completion of your repayment, the maximum loan available will increase to £750.
3. How much do you charge?
We simply charge you a flat interest of £25 to every £100 you borrow, and unlike some other lenders we don’t charge you a fee to take the loan out. For more information see our Charges page.
4. Would bad credit history affect loan approval?
No - we look at your current financial status and consider your ability to repay your payday loan on your next payday.
5. How long does it take to apply?
Our simple application form takes just minutes to complete, with approval available within minutes. If approved before 15:00 the cash advance will be in your account on the same day. Loans approved later than 15:00 will be in your account on the following working day.
6. What form of payment is used to repay your payday loan?
A simple debit card transaction is used for repayment.
7. What information do you need?
We need the following information:
- Your name and current address
- Two contact phone numbers and your email address
- Your work and income details
- Your bank account details
8. Is it possible to roll the loan over?
Yes - However, after rolling over your payday loan more than twice, you are required to reduce your balance.
9. What can the money be used for?
You can use our online loan for any financial emergency that might occur, from unforeseen household repairs to hefty bank charges. It’s your loan, so it’s your choice. Simple.
10. How can I contact Simple Payday?
Here at Simple Payday we ensure that our customers are treated with the respect they deserve. Our “Live Chat” facility enables us to answer any questions that you may have promptly online. Our dedicated phone line also means you can speak to us personally between 8 am - 8 pm, seven days a week. Simple Payday are committed to being No.1 for speed, clarity and customer service.
11. Who can apply for your service?
Anybody can apply for our online loan providing they are employed, aged over 18 and possess a bank account and debit card (please see terms).
12. How will I get my money?
It’s paid directly into your bank account so you can access it in the normal way from your account.
13. Can I have two payday loans at the same time?
No: all prior payday loans have to be repaid before another can be offered. This is because we are a responsible loan provider, and want to ensure you can easily pay what you borrow.
14. I’m not a homeowner can I still receive a loan?
At Simple Payday it makes no difference about your domestic arrangements. Whether you own your home, are a tenant or live with your parents, we are simply concerned with your ability to repay the loan.
15. What can I do if I have problems paying?
At Simple Payday we understand that financial situations can be precarious, and because of this we ask that if you encounter any problems to contact us as soon as possible.
Before taking out a loan you must be sure you can afford the repayment. If you do have any questions, please contact us and we will honestly answer all your queries. Any loan agreement must be taken with a full understanding of your responsibilities, do contact us if you have any questions.
16. My details have changed, what should I do?
With any changes in circumstances, it is important you contact our team as soon as you can, to make all necessary changes.
17. When will I need to repay the loan?
A payday loan is repaid on your next payday, usually up to 31 days.
