Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £1,000 for 12 months at £163.94 per month. Total repayment of £1,967.19. Interest: £967.19. Interest rate: 150% pa (fixed). 311.3% APR Representative.
The biggest difference between On Stride Financial and QuickQuid is the type of loan each lender offers. QuickQuid offers shorter-term payday loans and On Stride Financial offers longer-term instalment loans.
Payday loans, like the ones QuickQuid offers, are designed to help people get cash fast, usually in order to pay for an unforeseen or emergency expense. The funds are deposited in a lump sum and typically have a very short repayment period. Payday loans are often repaid in full within a few weeks to one month.
Compared to payday loans, instalment loans, like those offered by On Stride Financial, tend to offer higher pound amounts and longer repayment periods. With a larger amount and more time to pay the loan back, instalment loans can help customers handle bigger financial needs better than a payday loan.
You can apply for a larger amount of money with On Stride Financial than you can with QuickQuid. This is because On Stride Financial's instalment loans come in higher amounts compared to QuickQuid's payday loans. QuickQuid only offers financing up to £1,000 for new customers (£1,500 for existing customers). On Stride Financial offers amounts ranging from £150 – £5,000.
On Stride Financial also has customisable repayment options and terms from six months to three years. You can choose the repayment amount and frequency that best fits your financial situation when filling out your application. Depending on the information submitted on your application, you may be able to pay over one, two or three repayment periods.
Whether you apply for a loan with On Stride Financial or QuickQuid will largely depend on how much money you're looking to take out and how you are planning to use those funds. Keep in mind that interest rates will also differ: short-term loans will have a higher per month interest cost, while a long-term instalment loan will have a higher total cost of interest over time.
If you are looking to take care of a surprise expense — like an unexpected car repair — and need just enough money to pay the bill as quickly as possible, QuickQuid's short-term payday loan can offer a fast funding and fast repayment solution.
However, if you're looking to cover a larger expense — perhaps a home repair project — On Stride Financial can offer double the amount that QuickQuid does and has more flexibility when it comes to repayment. With On Stride Financial, you can choose your repayment schedule, adjusting payment amount and frequency to fit your finances. With QuickQuid, you will likely have fewer repayment options.
All costs and information verified on 15th October 2018 from QuickQuid.co.uk.
On Stride Financial and QuickQuid are both trading names of CashEuroNet UK, LLC.
On Stride Financial is rated out of 5 by Reviews.co.uk based on reviews