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Payday Loans UK: are there best buys? - MoneySavingExpert

Payday lenders usually charge a fee instead of an interest rate. Typically, a £100 loan for a month has a fee of around £25, so you need to repay £125.

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Payday loan - Wikipedia

A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday."