The consultant APR is 34.5%. If you happen to borrow £500 for one month through the credit union's Payroll Perk mortgage and pay it off in a single go at the finish, the curiosity will cost £13. Many alternative loans start with a 4-month repayment interval as an alternative of two weeks or one month. Aside from on-line payday loans, it also provides installment loans and lines of credit for bigger quantities.