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A £200 payday loan can help if you find yourself struggling to make ends meet before payday. An urgent repair, unexpected bill, a fine or even just a more expensive month than usual can lead to you applying for a loan.
Before you fill in any application forms, it’s important you carefully consider your options and find the right lender for your needs. More and more lenders are now offering short-term instalment loans, rather than payday loans that need to be paid back in around 35 days.
Sunny, for example, provide access to £200 loans for those who need them and these can be paid back over a period of at least 3 months. Read on to learn more about £200 payday and short-term loans and what to consider before you apply.
Representative Example: Borrowing: £1000 for 18 months, Total Repayable: £1853.43, Total Interest: £853.43, Interest Rate (Variable): 89.9%. Rates between 9.3% APR and 1721% APR – your no-obligation quote and APR will be based on your personal circumstances. Loan term lengths from 3 to 36 months. Subject to lender’s requirements and approval.
Sunny Loans is a registered trading name of Upward Finance Limited, who is an introducer appointed representative of Flux Funding Limited, who is a credit broker, not a lender. Loan repayment terms are 3-36 month loans.
Warning: Late repayment can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
If you believe that you can confidently borrow £200 and then pay the full amount back, plus interest, within around 35 days then a payday loan could be right for you. However, many people prefer to spread the cost of their loan and this is where Sunny can help. Our broker partner’s panel of lenders offer £200 loans that can be paid back over a period of at least 3 months.
This depends on the lender but typically you will have to pay back a payday loan within 35 days or when your next pay packet arrives. Bear in mind that you will need to pay interest on top of the £200 you are borrowing so it’s important that you take this into account.
If a lender is offering you a loan without a credit check, it’s best to steer clear of them. All lenders must be FCA approved and conduct credit and affordability checks to ensure those who apply for a loan are able to make payments. If you’re worried about applying and your credit rating is impacted, Our partner’s panel of lenders conducts something called soft search. This means they take a look at your credit report and confirm how much you will be likely able to borrow, without impacting your credit score.
Representative 89% APR