Loan terms
What every Qwikbucks loan costs and how it is repaid.
- Amount
- €100 to €400, in steps of €10.
- Term
- 7 days to 62 days.
- Interest
- 190% a year, nominal, on the amount borrowed for the days of the loan. Interest does not compound.
- Repayment
- In one payment of the amount plus the interest, on the repayment date: the day the loan starts plus its term.
- APR
- 418.9% to 547.3%, depending on the term: the shorter the loan, the higher its APR.
Representative example: €200 over 30 days costs €31.23 in interest, so you repay €231.23. Nominal annual rate 190%; APR 484.3%.
Borrow only what you can repay by the due date. Repaying late can cause you serious money problems.