Instacredit is a short term lending brand created by NKK Finance Ltd. This is another recent addition to the payday loan industry having launched in just 2013 at www.instacredit.co.uk. This service comes equipped with a flexible term range. The repayment date can be selected between the span of 1 and 31 days. When you pick your ideal date you then have to decide how much cash you would like to receive. The initial range is £50 to £300 and on subsequent loans this amount can rise as high as £500. The pricing levels are straight forward with there just being a simple 1% daily rate.

This 1% rate means that per £100 borrowed you would pay £7 over 7 days or £30 over the monthly period of 30. However, there is also a required £5 fast transmission fee that turns our provided examples into £12 and £35. There was initially some confusion regarding this fee since they reference slow and fast funding options in their FAQ, but on the application form the £5 charge can’t be removed. The Instacredit loans can be securely controlled at any time via www.instacredit.co.uk. The login button is a little difficult to spot that lies in the top left hand side of the website.

Early settlements can be made once logged in and although not stated it is likely that savings can be made when this is done. I couldn’t spot their opening time listings, but I recall seeing a past note that they are active throughout working days only. This is a still a fresh company on the web and so there isn’t much in the manner of feedback/reviews circulating at this time. This flexible product has been designed to a good standard, although it would be ideal to see a promo code released to take the overall cost down to just 1% daily that would match the likes of Peachy.co.uk and Wonga.com.