When you are running low on cash in the middle of the month and payday is a few days away, you can use quick payday loans to meet your expenses and to help tide you over until the next payday.
Payday loans are small cash advances that you can borrow from payday loan lenders before your next pay cheque arrives. The UK has many payday loan lenders who are regulated by the FCA. Many of these reputable lenders have an online presence, making it easy for prospective borrowers to find them and apply for quick payday loans.
While the government has capped the amount of interest that these lenders can charge borrowers, every lender has their own rate. That is why it is important to compare the loans before applying for an instant payday loan. This way, you will be able to get the best possible deal, one that you can afford without falling into a debt trap.
Comparing quick payday loans
When you compare payday loans, it is necessary to compare the annual percentage rate (APR) and the annual interest rates besides other fees and charges levied by the lender. The APR is usually higher compared to other traditional loans as payday loans are short-term and unsecured loans.
You can compare quick payday loans on the allthelenders website. The site is the UK’s first comparison site for the payday loan industry and ensures that borrowers get access to direct lenders. The allthelenders website is regulated and authorised by the FCA and provides 100 per cent independent results so that borrowers enjoy maximum benefits when applying for instant payday loans.