If you want to apply for a payday loan you need to know what it is and what terms do you have to repay it. Payday loan itself usually means that you borrow the small amount of money till your payday date. By most payday lenders hat means that you have 30 days to repay which can be extended to 45 or 60, but if you want to find a payday loan for 12 months you should think first about it. The approximate interest rate of payday loan lenders in UK is 20-30% monthly now you can multiply it by 12. Maybe a bank credit will be a better solution in this case?
