The Payday Loan Company Reviews, Loan Calculator and Complaints

(2 customer reviews)

Average Customer Rating

Is this you?

Acceptance Criteria

You must be 18 years of age or older
You must be a UK resident
You must have an active UK bank account

You must be employed with a regular salary (includes pensioners, carers, armed forces, self employed and part time workers)
Your salary must be paid into your UK bank account
You must have a cheque book or a debit card linked to your UK bank account

Loan Details

Representative APR

1455.19%

Loan Amount

£80 - £800

Repayment Period

Minimum Term 5 days

New and existing customers up to £800 - 31 days

Repayment Method

Direct Debit

Deducted from your debit card

Speed To Payout

Approved before 2:00pm - money will be in your account by 3:30pm

Approved after 2:00pm - next working day

Arrangement Fee

No Fee

Payment Holidays

None Available

Payout Method

Bank transfer

Income Protection Available

No

Average Customer Review

(2 customer reviews)

Loanfinder Ranking

282nd for APR of 423 loans in the UK (See Lender League Table By APR)
49th for Customer Satisfaction (See Customer Reviews)

About The Payday Loan Company

The PayDay Loan Company offer payday loans between £80 and £800. They do not lend to people who are currently in financial difficulty but they may still be able to help you if you have struggled in the past. This type of loan should only be seen as a loan up until your next payday because if you make payments late or if you miss payments then there will be huge charges incurred on your loan.

To apply, you will need to visit their website and complete their online application. It is only one page long and once you have submitted it, they will give you an instant decision. If you are provisionally accepted, they will contact you and inform you of their decision. They may also ask you to provide other documents to either prove your identity or your income. Once this is complete, you will need to sign the loan agreement - which is done electronically. After that, the money will be transferred into your account.

The PayDay Loan Company are one of the longest running payday loan companies in the UK and their rates are similar to what other payday lenders charge - £25 for every £100 you borrow. Ensure that you can make your repayments on the date agreed otherwise you will end up paying double, sometimes even triple what you originally owed due to extra charges.

Please be aware that The Payday Loan Company acts as a lender but also acts as an affiliate. This means that when you complete your application form, they will tell you if they are able to offer you a loan. If they aren't, they may recommend another company to you. Do not feel as if you have to apply with the suggested company as this may further impact your credit file.