Multiple repayment loans (payback your loan in 1 or 12 months!)
Finance should be flexible.
Monthly expenses fluctuate, sometimes you have more income, some months you don’t. So why don’t loan repayments do the same?
Luckily, here at Peachy, our payday loans have built-in multiple repayment options.
With Brits struggling to save, the payday loan industry has thrived because many households lack any savings. As a result, those who need to cover temporary expenses seek out financial support in the form a loan.
Sometimes those expenses are longer than expected – and this causes worry to borrowers who need to maintain their daily lifestyles. Overdrafts are no longer a cheap and viable option for borrowers.
Peachy understands that to alleviate worry and place power back in the hands of borrowers, must offer you even more repayment options on how to repay your payday loans.
Our mission is to be the most flexible lender in the UK market meaning that with our short term loans you do not have to pay back your payday loan in one instalment, but with multiple repayments.
Multiple repayments mean that you can pay back your loan, bit by bit
What are multiple repayment options?
Multiple repayment options are a way that borrowers can repay their loans or other existing lines of credit in several payments, as opposed to one, concluding payment. Simply put, borrowers can repay what they borrowed over a period that suits their repayment schedule and lifestyle.
How do multiple repayment loans work?
Peachy offers multiple repayments in the following ways:
- Use the calculator on the right-hand side of this page and move the sliders to determine the amount that you want to borrow. Peachy offers loans ranging from £100 to £1,000.
- Choose how long you need to repay your loan. Unlike other inflexible payday loan lenders, Peachy offers you several options ranging from paying back your loan from 1 month up to 12 months.
- The calculator will adjust to display the credit amount, the number of payments that you have to make, and the date of your first repayment. You can view how much your monthly repayments will be, adjusting your monthly budget accordingly.
- If you the repayments suit your monthly budget, then proceed to the “click apply now” button and Peachy will assess your loan application.
Multiple repayment options – good to know
Multiple repayment options will display the Annual Percentage Rate (APR) of your loan with interest owed added to the amount. We do this so that our borrowers are acutely aware of how much they will need to repay and avoid falling into further financial difficulty.
Peachy is here to help, not cause you more worry, hence we are upfront with our fees right away.
Multiple repayment options are but one way of paying back your loan. Peachy’s mission is to set the example for other lenders within the industry by being a responsible lender, offering more affordable multiple repayments.