Understand the differences between Pounds to Pocket and QuickQuid, our sister site, with this reference guide.
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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £750 for 12 months at £119.21 per month. Total repayment of £1430.52. Interest: £680.52. Interest rate: 140% pa (fixed). 277.5% APR Representative.
|What is the loan duration?||6 - 12 months|
|If approved, how much can customers borrow?||Up to £2,000†|
|If approved, how quickly can I receive the money?||Within 10 minutes after approval§|
|What is the fee for faster funding?||FREE|
|What is Pounds to Pocket's advertised representative APR?||277.5%|
Payday loans and personal loans are subtly different products. While they do have some similarities, the main difference between them is the loan term. At Pounds to Pocket, if approved you can borrow money between six and 12 months. Compare that to QuickQuid, whose short-term loans can only span as much as three pay periods. Typically, pay day loans are expected to be repaid in full within a few weeks, and personal loans are longer-term loans that are repaid gradually over several months - or in Pounds to Pocket's case, up to a full year.
What QuickQuid and Pounds to Pocket have in common, however, are their seven days a week support teams and the speed with which you can receive your loan, if approved. If you need the loan fast, rest assured that either lender will send the money to your bank account within 10 minutes after you're approved.§ But if you need to borrow more than £1,500, apply with Pounds to Pocket rather than QuickQuid.
You may be eligible for a higher loan amount at Pounds to Pocket. Plus, you can customise your repayment schedule to last anywhere from six to 12 months, depending on what is most affordable and convenient for you. If you're approved, the cash is sent to your bank account within 10 minutes after approval.§ There are no hidden fees.
Still not sure? You can contact our customer support team seven days a week via phone, email or live chat. They'll be happy to help you understand our product better so you can decide if a personal loan is right for you.
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All costs and information verified on 9th December 2016 from QuickQuid.co.uk