Sure Money UK™: Instalment Loan Rates

At Sure Money UK we know Annual Percentage Rates or APRs can appear high. It's worth knowing this represents the annual percentage rate across a whole 12 months. An instalment loan however is generally taken over a shorter period. Our example is a good way of understanding what is involved:

Representative Example:
£400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% (variable). Representative 305.9% APR.
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