Daypay
Daypay offers SMS loans, also known as quick loans, and they are particularly suitable for borrowers with low credit scores or payment defaults. They have a high approval rate compared to many other lenders in the same category and use Creditsafe instead of UC for credit checks, which means that inquiries with Daypay do not affect the credit score at UC.
Loan Amount and Interest Rate
Daypay offers loans from 1,000 to 20,000 kronor. For amounts over 10,000 kronor, they offer a relatively low interest rate of 20%, which is competitive among SMS loans. For loans under 10,000 kronor, however, the interest rate
Loan terms
Loan amount: 1000 - 20000 kr
Duration: 1 - 60 months
Interest: 39% - 39%
Eff. interest: 69.95% - 4568.91%
Age: 20 - 75 years
First loan free: No
Payment remarks accepted: Yes
Setup fee: 320 kr
Administration fee: 0 kr
Invoicing fee: 59 kr
Direct payment: No
Weekend payment: No
Revolving credit: No
Minimum required annual income: 50000 kr
Representative example
Price example: Borrow 5,000 SEK for 60 days. Total to repay 5,763 SEK, which is 2,871.5 SEK per month. Effective interest rate 132%, annual fixed interest rate 39%. Setup fee 320 SEK. Invoice fees total 59 SEK.
This is a high-cost credit. If you cannot repay the entire debt, you risk a negative credit record. For support, contact your municipality’s debt advice.
Daypay interest rates and fees
Here is how Daypay compares with other lenders in the comparison.
interest rates
fees
This comparison was made with långivare med en maximal effektiv ränta under 2000%.
The lenders compared with Daypay had interest rates from 2.95% to 44% and effective interest rates from 4.04% to 4568.91% and setup fees from 0 kr to 995 kr, administration fees from 0 kr to 375 kr, invoicing fees from 0 kr to 60 kr, and total fees from 0 kr to 1024 kr.