Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

WageDayAdvance Loan

We're here to lend a hand to customers who want to borrow money for a short period of time and decide when it’s affordable to pay it back.

New customers could borrow between £80 and £500 with a WageDayAdvance loan, and existing customers could borrow up to £750.

There are three repayment options. You can choose to pay back your loan over 1, 2 or 3 months – whichever works best for you.

An online application process - to make things simple

Choose the loan amount and term you’d like to apply for and complete our online application form. We’ll make a decision based upon your circumstances and, for new customers, we will complete a full credit check.

If we decide you can’t quite have the amount you initially applied for, don’t worry, if you could have a lower amount we’ll show you this online and you can decide if this is right for you today.

Try our simple loan calculator to find out what is affordable for you. Or as an existing customer login to your account to view your personalised loan calculator.

Three repayment options - to suit you

If you borrow over 1 month you will make one repayment for the whole loan amount borrowed plus interest. If you borrow over 2 or 3 months your initial repayment(s) will be interest only, covering the interest of the loan for that month. Your final repayment will be for the original amount borrowed plus one month’s interest, so it will always be higher.

See the following examples:

Borrow £200 over 1 months, total repayable £244.80, one instalment £244.80. Total charge for credit £44.80
Borrow £200 over 2 months, total repayable £292.80, first instalment £44.80, final instalment £248.00. Total charge for credit £92.80
Borrow £200 over 3 months, total repayable £340.80, first instalment £44.80, second instalment £48.00, final instalment £248.00. Total charge for credit £140.80

Whichever option you choose your repayment will be setup on your pay dates. There is a minimum loan term of 21 days.

If your next pay date is in less than 21 days’ time from when you take your loan, your first repayment will be made on your following pay date. Your repayment dates will be clearly shown in your loan summary before you sign an agreement.

When borrowing over 2 or 3 months you are encouraged to make overpayments or pay back your loan early at any time, reducing the final payment amount. This could also reduce the amount of interest that you pay.

Transparent costs – to put you in control

There is a 0.8% daily interest charge on the amount borrowed throughout the term of the loan. Late repayment of your loan will incur a one-off late repayment charge of £15 in addition to the daily interest charges. There are no other fees or charges with a WageDayAdvance loan and any late repayment charge will only be applied once.

If you borrow your loan over 1 month there is the option to apply to defer your loan repayment by a further month by repaying the interest only, and as long as you pay this interest on your due date. The option to defer your repayment is subject to an affordability assessment and you may only do this on a maximum of two occasions.

If you borrow your loan over 2 or 3 months there is no option to defer your repayment, and in such circumstances it's important that you talk to us about your options if you face any difficulties paying back your loan.

Short-term loans should only be used for short term financial needs and are not appropriate for long term borrowing.