Capfin Payday Loans Apply Now
What They Offer
£200 to £500 – Rates from 75.9% APR to max 1200% APR – Minimum Loan period 1 month – Maximum Loan period 6 months – Our Rating –
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Representative Example: Amount of credit: £300 for 65 days with one repayment of £78.00 and one repayment of £378.00. Interest: £156.00. Interest rate: 292% pa (fixed). 1294.1% APR Representative. >>
What they offer
- Capfin offers short-term loans of £200-£500 to be paid back in 6 monthly instalments.
- Its loans are designed as an alternative to traditional payday loans paid in full on your next payday.
- A relative newcomer to the UK short-term loans market, Capfin launched in the UK in in 2017.
- Weirdly enough, it’s owned by furniture and household goods giant Steinhoff International Holdings, which also controls Bensons Beds, Harveys Furniture and Poundland.
- With all its loans payable over six equal monthly instalments.
- Capfin does not offer the same flexibility as many of its competitors.
- However, with a fixed daily interest rate significantly lower than the maximum allowed by the Financial Conduct Authority (FCA), it aims to beat them on cost.
- Key features of a Capfin short-term loan.
- Loans of £200-£500. Choose an affordable loan amount to suit your needs.
- Repay over 6 monthly instalments. All Capfin loans are payable in six equal instalments.
- Spreading the repayment over longer periods makes for more manageable monthly outgoings, but almost always costs significantly more overall.
Repaying your Payday Loan
- Quick quote. Complete four simple steps on the application form and Capfin will provide you with a quick decision.
- Fast payment. Following approval, Capfin aims to have the money in your bank account within 15 minutes.
- High, fixed interest rates. While Capfin could prove to be cheaper than many of its competitors in this market, this is still realistically an expensive way to borrow money.
- Early repayment. You can pay off your loan at any point at no extra charge. You will only be charged interest for the time you had the loan, so this could save you money.
- No late payment fee. Capfin will not charge you a penalty if you are late with a repayment.
- However, you will accrue interest for the time you have the loan, so missing a payment would cost you money and may also harm your credit rating.
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