What is APR?

APR is the Annual Percentage Rate of charge. It is used by the The finance industry is required to use the APR (Annual Percentage Rate of charge) to make comparing loans simpler. Whilst this is relatively straightforward when comparing longer term loans of 12 months and above, it can be tricky when applying this to short term loans like ours, which are issued over weeks.

The use of APR on weekly payment loans can make loans like ours look less favourable in comparison, as the shorter the term, the higher the APR%.

In addition, more traditional lenders don’t include things like fees and late payment charges in their APRs. This can make them appear much lower than ours.

The Greenwood APR may look higher than other lenders but you have to remember that:

  • We don’t charge you any hidden fees - our service charge is included in your weekly repayments.
  • The interest rate on your loan is fixed so you always know where you stand

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    Why not try our Loan calculator to work out what your weekly repayments could be

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    Compare the price of home collected and other cash loans available in your area at www.lenderscompared.org.uk

    Copyright © Provident Financial Management Services Ltd 2011. Written quotations are available on request. Available to UK residents aged 18 and over. Applicants subject to acceptance. Greenwood Personal Credit Limited, Registered office: 1 Godwin Street, Bradford, BD1 2SU. Registered number 125150, England.

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