Wonga Review
Recently the UK has witnessed a rapid growth in payday loan lenders and one of them above all others is doing very well and calls itself the colloquial for money: Wonga. It has a huge presence online as its entire business flow from start to finish is done online. This Wonga review reveals all.
Seeing that they are a web-based lender only, this payday lender states that it can transfer loan funds to your UK bank account on bank holidays and weekends and also, as expected, on any working day. This means that they are not obliged to transfer funds during high street bank opening hours. Once your application has been accepted by Wonga they claim that they have the ability to transfer cash to your bank account within fifteen minutes and do guarantee this.
Wonga can provide a level of service over and above what other loan providers can and this is great news for the discerning borrower. They give you the ability to choose how long you wish to make the loan period. This means you only pay interest charges for the exact number of days your loan is outstanding. Also, there are no late fees should you wish to extend the loan term from anywhere below 30 days right up to 30 days on the dot.
Therefore the shorter the loan period the less interest you will be charged when it comes to repaying the loan. So it offers you a much better way of tailoring the loan to suit your particular needs at the time you apply for it.
Another thing that you should consider is that when it comes to the Wonga application process not only is it a lot simpler than some of the others but also the process they have designed is very user friendly.
They include a calculator that will show you exactly how much you will need to pay back when the loan term is up. But although you can pay it back in a much shorter period of time you will still have a high rate of interest to repay. The APR on the loans they provide is 2334%. So you need to take this into consideration before you apply for a loan with them.
Want to Find Out More? Read your Wonga review for free at www.whichpaydaylender.co.uk. You can also compare and review all UK lenders.