The Mr Lender app allows you to apply for a short term payday loan or instalment loan. It also offers loan management for existing customers and we have added a game called Grab The Money to help pass the time in moments of boredom.
Cost of borrowing:
Mr Lender charge 0.8% per day on outstanding capital.
Representative APR:
1,248.5%
Representative Example: Borrow £500 for 6 months, repay with 6 payments - payment 1: £203.33, payment 2: £183.33, payment 3: £163.33, payment 4: £143.33, payment 5: £123.34, payment 6: £103.34. Rate of interest 0.80% per day on outstanding capital. Total repayable £920.00 (based on 30 day periods). Interest rate 292% per annum (fixed). Representative 1,248.5% APR.
Late fees and non-payment:
Mr Lender has no hidden fees and does not charge any late fees.
We appreciate your feedback so please do send any you have to:
Email: [email protected]