What's the difference between a long-term personal loan from Pounds to Pocket and a short-term Wonga loan? You can refer to this handy chart for information about Pounds to Pocket.
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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%|
Here at Pounds to Pocket, we offer loans that are tailored to your needs. You choose how long you wish to borrow - anywhere from 6 to 12 months - then make gradual repayments over time. Wonga loans, by contrast, typically need to be repaid in full in a matter of days or weeks. The maximum term for their short term loan is 35 days, while a Pounds to Pocket loan can be borrowed over a full year, if desired and if you're approved.
Approved borrowers can receive up to £2,000† from Pounds to Pocket, regardless of whether they're a current customer or brand new. New Wonga users, on the other hand, can only borrow a maximum of £400, as it is a short-term loan.
With both loan providers, there is no additional fee for repaying your loan early. If you're approved for a 6- to 12-month loan at Pounds to Pocket, we'll send your cash within 10 minutes after approval at no extra cost.§
At Pounds to Pocket, you may be approved for a higher loan amount than at a short term lender.
As long as you are at least 18 years old, a UK resident and employed, you are welcome to apply for a 6- to 12-month loan today at Pounds to Pocket!
All costs and information verified on 9th March 2017 from Wonga.com
Wonga information pertains to their short-term loan product, not their longer-term Flexi Loan.