2nd Loan Rates2. interest on loans
QuicQuid FAQs - Loans, Financing Costs, Payment Options
How soon will I get my loan? If your merchant does not provide faster payments, the money will be paid in the same date if your loan is accepted by 14:30 that it is. As soon as I have paid out a loan, how quickly can I get another? As soon as the disbursement is completed, you may be able to request a new loan.
When the loan has been paid back by credit cards, you may be able to request another loan on Friday. When the loan has been paid back by direct debiting, you must await Wednesday before you can request another loan. QuicQuid has a guideline of one loan per client.
Which refund possibilities do I have? You may be entitled to three refund options: one-period loan: The first and only day of your payments is when you become liable for your overall account deficit (the amount of the loan plus interest accrued). 2 Period Loan: This allows you to reimburse your loan over 2 years. The interest incurred to date is paid on the 1. redemption date.
The second day you make the payment, you reimburse the amount of the loan you have lent plus interest due between your first and second day of payment. 3 Period Loan: This allows you to reimburse your loan over 3 cycles. The interest incurred to date is paid on the 1. redemption date.
Your second redemption date is the date on which you pays the interest earned between your first and second redemption date. The third day of redemption you will reimburse the amount of the loan you have lent plus interest due between the second and third day of redemption. Refund details are always placed on your payment details.
It is possible that you are not entitled to request an optional payment for any given timeframe as you have your payment schedule and our limit of 27 workdays. Refund details are always placed on your payment details. It is possible that you are not entitled to request the options for any given timeframe, as your payment frequencies and our request that credit periods not be less than 27 calendardays are met.
Have I the right to terminate or revoke my loan contract? Yes, by statute you have the right to rescind your credit contract within 14 working days following the signature of your contract. Withdrawal from the loan means that you must give back the funds we have made available to you and the interest on them.
What time is my loan due? Always base your refund information on the data you receive. It is possible that you are not entitled to select from all three refund methods, as your payment frequencies and our request that credit periods not be less than 27 calendardays are given. How high is the interest on a loan per day?
Choose to take out a loan with a maturity of 1 period for £100.00. They will be billed 0.8% interest on a 30 day loan period leading to £24.00 interest. All in all you pay back £124. 100 (interest + principle) on your redemption date. Amount of interest calculated for your loan will depend on the number of repayments due for your loan.
Please refer to our Tariffs & Conditions page for more information (link to Tariffs & Conditions). Loan checking also helps us establish the amount of your loan proposal if it is accepted.