As you make these payments, you pay down both the interest and principal until the loan is paid off. And you can pay your loan off early with no prepayment penalties.
On the other hand, payday loans are fixed loans. When the loan term is up, usually within two weeks, you need to pay back the entire amount. If you dont have that money available, you can rollover the loan for another two weeks (or whatever your loan period is).
This racks up additional fees and gets expensive fast.
Uk is a registered trading name of Hellcat Media Limited which is an Introducer Appointed Representative of Quint Group Limited, and is entered on the Financial Services Register under reference number 729043. Quint Group Limited is authorised and regulated by the Financial Conduct Ace cash advance medford or and is entered on the Financial Services Register under reference number: 669450.
Hellcat Media Limited is registered in England and Wales (Company number 08151185), Registered office; 12 Culm Close, Bideford, Devon, EX39 4AX.
Licenced by the Information Commissioners Office, (registration number ZA262977). Copyright 2018 Parrot Loans, all rights reserved.
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