Last updated on November 30th, 2018 at 11:55 am
WageDay Advance, that is a UK based company and affiliated with the United Kingdom Consumer Credit Association, offers payday loans to its inhabitants. The company is helping UK inhabitants since 2004, and it is one of the UK’s most thriving and well-liked online payday loan companies. A payday loan is a short-term cash advance. The lender supposes the borrower to return borrowed profits and an interest charge on the date of lenders next payday.
- Select from UK’s Top Payday Loan Lenders
Clients can use wage day loans for a broad range of purposes. Those customers who have problems making it from one payday to the next can enjoy a quick advance cash to get them through the week. Consumers who have unexpected emergencies can also use these loans for bill payments, for vehicle maintenance, and home renewal. Moreover, the borrower can use these funds for vacations, savings, and shopping.
Unlike other payday loans i.e QuickQuid payday loan, loan payments can be postponed if your term is above one month, but you’ll still have to pay off the interest that you’ve taken that month which means with the passage of time your loan will be more costly as compared to initially plan. This choice isn’t accessible for loans above two or three months.
If you miss a monthly payment you will be charged a fee of £15, this charge applies only for once and only on loans that are over 4, 5 or 6 months. In order to avoid this charge and for in time monthly payments, log in to your WageDay Advance management tool that will show you the details of the loan, your repayment review and through this tool, you can apply for a new loan if your original one if totally paid off.
If you can’t afford to repay the full amount of your loan in time, don’t apply at all because it will not only affect your credit file but it will be subject to some charges that will make things worse and expensive.
Wageday Advance Amount
WageDay Advance gives high-cost and short-term loans between £80 and £750 over one to six months. The approved amount depends on the income of the borrower. If you are new customers, you can only borrow maximum £500, but if you can prove yourself to be reliable, you’ll be eligible to borrow the maximum amount after completing formal loan requirements. you can borrow a WageDayAdvance payday loan from 21 to 57 days.
Wageday Advance Representative APR
WageDay Advance representative APR is 1281.8% that is quite standard in the high-cost short-term market. Let’s see an example.
If you lend between £160 over 29 days then, Representative example will be as follows:
If you borrow £160 over 29 days at an annual interest rate of 292.00% and Representative rate of 1,281.8% APR and, you will pay £244.80 1 monthly payment, the £37.12 will be the total charge for credit and £197.12 will be the total amount payable.
WageDay Advance Features
Wageday Advance has some important features as:
- It has no charge for settling the loan early
- Frequent customers can borrow up to the payout
- The payout can occur in one hour
WageDay Advance Payments
Approved people will receive their funds by BACS within three business days. If a borrower wants to receive funding faster, he or she will have to pay an additional charge of £15 so that he/she can receive the amount on the same day. For more assistance and help with the application process, call on Wageday Advance number 0871 703 7777.
WagWageDay Advance Applying Criteria
If you want to borrow WageDay Advance you must:
- Be aged 18 or over
- Be a UK resident
- Need to be in employment
- Must have a bank account and debit card
- Need to have the salary to be paid into your bank account
WageDayAdvance does not administrate the usage of the proceeds.
WageDay Advance Fees
- The arrangement fee is £0
- Late payment fee is £15
- Maximum APR is 1281.8%
- Early repayment fee is £0
WageDayAdvance has a fee of £29 for every £100 it lends.
WageDay Advance Application Requirements
WageDay Advance is a trustworthy means of funds that follow the safe lending process. If you want to apply for Wageday Advance, first you have to fill the online application.
You will need to have details of:
- Your home address
- Your bank account
The applicant must have a UK bank account along with a debit card
Providing the information WageDay Advance will complete their affordability and creditworthiness checks. After that, they will contact you with their loan decision, amount and terms.
There are no fees for overpayments or early agreement of the loan, so if you have the capability to do this then acquire it by getting in touch with them.
Note: The borrower has the freedom to spend the borrowed amount in any way.
WageDay Advance Loans Details
- Loan calculator is available for you to check how much you’d like to borrow and how much your repayments are, so you can evaluate the amount affordable for you. In case you’re a returning customer, log into your WageDay Advance Online Account by Wageday Advance Login and see your tailored loan options there.
- An individual can borrow up to £2,000 and pay back the loan over 1 to 12 months. You can choose the right choice and amount for you.
- A new customer is eligible to borrow up to £500 above 1 to 3 months or up to £750 for 4 to 6 months.
- If you are a frequent customer, you can borrow up to £2000 over terms up to 12 months.
- Bigger loan values are only accessible for longer terms.
- All Wageday loans are clear with the details of how much you have to repay and when are your payments due.
- A £15 charge is payable as the late payment on our 1 to 3-month loans.
Regardless of the Wageday Advance quite expensive representative APR, customers like it and it has a large number of positive reviews from their customers. These loans offer their customers a collection of straight and sober features and repayment options, but if you research the market you can find better and cheaper options for you.