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Quid Loan Lenders Reviewed - Wonga  |
Look under the surface and You can get a Great Deal with Wonga - Today! On the face of it Wonga seem like an exclusive short-term Quid Loan choice, charging £36.72 for every £100 borrowed (for 30 day loan term). I was curious to find out why they charge such a high rate compared to other short-term loan lenders and I exposed something interesting. I've calculated that if you only need a loan for 18 days or less, then Wonga is Cheaper than almost all other short-term loan lenders. For every £100 borrowed with Wonga they charge the following:
Almost all other short-term loan lenders will charge £25 for every £100 borrowed for a stage of 1 to 30 days! The other good thing about Wonga is that you really get the cash in your bank account on the same day so your loan term really is 7 days and not 4 days (as it can be with other lenders that take up to 3 working days to get the cash to your account). Wonga also gives an instant choice and cash could be in your account within 1 hour - Today! Finally, Wonga really does do that same day loan transfer to your bank account at no further cost to the price advertise upfront. Most other lenders charge from £15 to £25 for the additional advantage of having the loan transfer to your bank account on the same day. Read more about Quid Loans
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