Let's Explore the Rates & Terms

We're focused on transparency so you know exactly where you stand at all times.

Short-Term Loan Amount
Up to £1000 for new customers, £1500 for existing customers

Short-Term Loan Length
1, 2, or 3 repayment periods

Short-Term Loan Interest
Interest accrues at a daily rate of 0.80%


Understanding Your Short-Term Loan Rates

1 Period

Your loan amount and accrued interest are due on your repayment date.

2 Period

Your accrued interest is due on your first repayment date, and your loan amount and additional accrued interest are due on your second repayment date.

3 Period

Your accrued interest is due on your first and second repayment date, and your loan amount and additional accrued interest are due on your third repayment date.

QuickQuid charges a daily interest rate of 0.80% on your outstanding principal. Your repayment dates will always be set to your pay dates. You may not be eligible to apply for each period option given your pay date frequency and our minimum 27-day loan term restriction.

View the chart below for an example of what a 1-, 2- or 3-period loan may cost.

Short-term loans should only be used for short-term financial needs and are not appropriate for long-term borrowing, or if you are in financial difficulty.



Short-Term Loan Cost Example

Loan Periods Loan Amount Daily Interest Rate Due Next Repayment Date Due 2nd Repayment Date Due 3rd Repayment Date
1 £100.00 0.80% £124.00    
2 £100.00 0.80% £24.00 £124.00  
3 £100.00 0.80% £24.00 £24.00 £124.00

Assumptions

Based on the customer being paid monthly

Pay periods are 30 days

Customer makes on-time repayment

What If I Miss a Payment?

Try to make your payments on time to avoid the following:

  • A Late Fee of up to £15.
  • Interest will continue to accrue on the outstanding principal at the same rate as your contractual interest rate, starting the next calendar day after your repayment date.


We understand that things happen. If you know you won't be able to make an upcoming payment, contact us immediately so we can do our best to set up a payment plan that works best for you.

For more information on QuickQuid short-terms loans and how they work, visit our How It Works page.