CUOK is a short term loan that provides you with a simple and flexible solution to the cash needs you may have until your next payday. The interest rate on a CUOK loan is [42.6%APR] much lower than that charged on typical payday loan providers [1500%APR] , so taking out a CUOK loan saves you money and makes good financial sense. Also, our terms are designed to fit your budget and personal circumstances.
Typical example of our CUOK Payday Loan of £400 borrowed over 30 days.
|Typical interest rate (APR)||Total repayment||Total
|Saving on interest|
|CUOK Payday Loan||42.6%||£412||£12||–|
|Typical Payday Loan||1500%||£496||£96||£84|
Note: LMCU loans are subject to our lending criteria and are assessed on your ability to repay the loan as well as our terms and conditions of membership of London Mutual Credit Union. All fees, pricing information and qualification information displayed on this page is for illustrative purposes only. Applying for a loan may affect your future abilities to take out future credit.