Home » FAQs
1: How would my loan-taking capacity be affected if I have bad or no credit history at all?
You would certainly not be denied a loan in the above-mentioned situation. We would only give emphasis only on your current financial situation. Once we are sure that you would be having sufficient funds in your account eventually to pay off the loan, you would be granted the same.
2: How much loan can I take?
Maximum : £750
3: How can I repay the loan?
Your repayment would be done via the debit card on your current account.
4: How about if I'm self employed?
You would be getting a loan provided you have your income coming into your current account.
5: What if I don't have a debit card?
No problem, our lenders also have a direct debit option for those who don't have a debit card.
6: How long will it take for me to get the money?
If you apply on any working day before 1500 hours, your money would be transfered to your account on that very day. However, if you apply after 1500 hours, the transfer would be done on the next working day. For instance, if you apply for a loan at 1530 hours on Friday, you would get the cash in your account on Monday.
7: What type of charges are involved in this process?
The APR for payday loans is generally very high, 1355% to be precise. However, this rate is applicable on your loan amount in case you repay your loan after one year. Generally, the period for payday loans is not more than 21 days, the applicable rate is not more than 20% in most cases.
8: Can I extend payment until my next payday?
Yes. However, you would be asked to start paying after you have extended the date twice and would have to pay the interest for both the dates. For example, in the above case, you would have to pay £600 on the next payday.
9: Can I apply if I don't live or work in the UK?
No
10: Are you providing these loans yourself?
No, Ask4Payday is basically a facilitator that has tie-ups with prominent lenders all across the UK. Once you fill your application and submit it, we forward the same to their website and you can complete the transaction there itself.
You would certainly not be denied a loan in the above-mentioned situation. We would only give emphasis only on your current financial situation. Once we are sure that you would be having sufficient funds in your account eventually to pay off the loan, you would be granted the same.
2: How much loan can I take?
Maximum : £750
3: How can I repay the loan?
Your repayment would be done via the debit card on your current account.
4: How about if I'm self employed?
You would be getting a loan provided you have your income coming into your current account.
5: What if I don't have a debit card?
No problem, our lenders also have a direct debit option for those who don't have a debit card.
6: How long will it take for me to get the money?
If you apply on any working day before 1500 hours, your money would be transfered to your account on that very day. However, if you apply after 1500 hours, the transfer would be done on the next working day. For instance, if you apply for a loan at 1530 hours on Friday, you would get the cash in your account on Monday.
7: What type of charges are involved in this process?
The APR for payday loans is generally very high, 1355% to be precise. However, this rate is applicable on your loan amount in case you repay your loan after one year. Generally, the period for payday loans is not more than 21 days, the applicable rate is not more than 20% in most cases.
For instance,
If a consumer borrows £400 for a 15 day period,
the total amount payable is £500 (calculating a rate of interest of £25 for every £100)
8: Can I extend payment until my next payday?
Yes. However, you would be asked to start paying after you have extended the date twice and would have to pay the interest for both the dates. For example, in the above case, you would have to pay £600 on the next payday.
9: Can I apply if I don't live or work in the UK?
No
10: Are you providing these loans yourself?
No, Ask4Payday is basically a facilitator that has tie-ups with prominent lenders all across the UK. Once you fill your application and submit it, we forward the same to their website and you can complete the transaction there itself.
