Typically, a казино вулкан платинум игровые автоматы официальный сайт Ј200 loan for a month has a fee of around Ј21, вулкан казино официальный сайт москва so you need to repay Ј225. Ј4 LESS than payday lenders charge for just one month, to put that in context, if you borrowed the same amount on a bog-standard credit card at 19% APR, then provided you didn't miss any repayments, it would cost Ј21 to borrow Ј170 for a YEAR. If you express the typical charges payday lenders make as APRs most work out as over 1,000%.
This is a useful warning against what can be dangerous products, but these APRs are mostly meaningless. Even a small fee can become an astronomical APR, that's because if you borrow over a very short term. Why do they have to put these APRs if they're meaningless?.
Well, it's a legal requirement that if you're offering loans to people, then you have to have your APR marked in large letters on all adverts, and on your website. Many have pointed out the pointlessness of this with a payday loan, but. APR stands for 'annual percentage rate'.