Daily interest will accrue on the outstanding principal loan amount at a rate of 0.8% per day. Please find the below examples of a typical 5-payment instalment loan where payments occur every 30 days. The total amount of interest charged will vary based on loan amount and total loan term.
| Amount |
| Total |
If £300.00 was borrowed for 140 days at a fixed daily rate of 0.8% (292% per annum), the total amount repayable is £528.30 (5 total payments of £105.66).
1298% APR Representative.