Rates and terms

iDosh provides short term loans to help people sort out their urgent cash-flow issues. Our loans range from a minimum of £100 to a maximum of £400 for first time customers, and returning customers may qualify to borrow up to £1000 (subject to assessment).

We charge a fixed rate of £30 per £100 borrowed – this rate stays the same, whether you borrow for the minimum loan term of 8 days or the maximum of 37 days. It takes a couple of minutes to complete our simple application and we perform a fast credit check.

We usually make an instant decision on applications, but if your application isn’t instantly approved then we will contact you, and in rare cases you may need to fax us some additional information.

Representative example
 

Fixed Flat Rate of Interest: 30%

Annual Interest Rate: 360%

Total Amount of Credit: £100.00

Total Charge for Credit: £30

Total Amount Repayable: £130.00

Representative APR: 2334.0%

Duration of Loan: 30 Days

Amount repayable in one single instalment: £130.00

APR explained

APR stands for Annual Percentage Rate of Charge, and shows you the rate of interest payable on the amount borrowed over a year. A 30 day £100 loan from iDosh has a representative APR of 2334.0%.

Although this may look like a large figure, it’s important to remember that we offer short term loans that last a maximum of 37 days, rather than long term loans which accrue interest over an entire year.

Our loans are designed to give people a fast and convenient short term solution for emergency costs, not as a long term form of borrowing.

No hidden charges or fees

At iDosh, we’re committed to responsible lending and our loans come with no hidden charges or fees. You will be able to calculate the full cost of your loan before you apply using our easy slider, and our rates are very simple.

Loan amount                  Loan period                  Charges              APR                   You repay 

      £100                   30 days                   £30             2334.0%           £130

      £200                   30 days                   £60             2334.0%           £260

      £300                   30 days                   £90             2334.0%           £390

      £400                   30 days                  £120            2334.0%           £520

Same day cash

We offer a convenient same day funding service for customers who need their cash in a hurry. This service is optional and we charge a transmission fee of £5.50 for faster payment.

This fee is deducted from your loan amount, so if you apply for a loan of £100 and opt for same day funding, we will deduct the £5.50 fee and pay £94.50 into your bank account on the same day. †

Extending your loan

We understand that circumstances can change quickly, so if you think that you may have difficulty paying off your loan on time, then you can contact us before the due date to request an extension – this will be subject to additional assessment and is at our discretion.

If your extension request is approved, we will arrange an alternative repayment date with you and ask you to pay back the interest for your loan period, as well as part of the loan. Extending your loan will mean that the total you repay will be greater than your original total. For more information on loan extensions, take a look at the FAQ.

Missed and late payments

It’s important to us that you hold up your end of the deal and honour your promise to pay us back on the agreed date. If we can't take repayment from your account on that date, we will make further attempts to take the amount owed or a specified percentage of this amount on a specified date or dates, as specifically agreed in any loan agreement you enter into for an iDosh loan. 

As a lender committed to our responsible lending obligations, we will only attempt to take repayments from your account for amounts and on dates set out in the agreement, or which you have otherwise specifically agreed.

If you fail to make repayment on the repayment date, we will attempt to contact you to find out why you have been unable to meet your repayment obligations. If you're suffering from financial hardship then we will do everything we can to agree an alternative repayment plan with you. If you know or believe that you will be unable to make repayment, we urge you to contact us as soon as possible to explain your difficulties and avoid incurring unnecessary default charges.

However, if we are unable to take the repayment from your account on the agreed repayment date and we cannot contact you to arrange an alternative repayment option, we will charge you a missed payment fee of £20.

If your loan still remains unpaid after 30 days and is passed on to our collections team, then we will charge you a collections fee of £40.

Borrow responsibly

We aim to keep up good relationships with our customers, and will always do everything we can to help if you encounter any difficulties. However, we advise that you think carefully before applying for an iDosh loan and only apply if you’re sure that you can repay comfortably.

Our short term loans are here to give you a helping hand on occasions when you’re strapped for cash, not as a long term way of managing existing debts and financial problems.