With most lenders quoting interests in four digit upwards; a very common question that occupies almost all payday loan customers is: Are there any low interest payday lenders out there? Let us explore:
In general, there is a trade off between convenience and finance charges for payday loans. Most of the no fax and totally online payday loans have finance charges 20-30% per loan term. Cheap loan alternatives (those charging 20 rather than 30) under this batch can be obtained by careful research. Luckily for you, we have done some research already. You can sift through the side table on this web page and make your decision based on Payday Lenders list.
There are a few lenders in the market who do not have a payday loan website but own physical stores in the UK. You will need to submit your documents for identity proof to these lenders. If you feel you have sufficient time and energy to go for such toils, here is our list:
Harvey and Thompson Payday Loans
Website: harveyandthompson.com/payday_loans_services.htm
Finance Charges: 15%
They own multiple stores almost throughout UK. In order to get a payday loan from them, you will need to visit one of their stores with some proof of your identity. You write them a cheque and they provide you your loan. Though the process, seems very simple at one read, there may be many catches.
Pawn Brokers
There are many pawn brokers in UK who would offer you money in exchange for your valuables. Finance charges in this case are low since the lenders are not subject to defaults. One such lender is Borro (borro.com).
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