With Christmas just around the corner I’m sure we’re all quite strapped for cash. If something went wrong at home, what would you do? Could you cope without your heating or hot water until your next pay day? We live in an old, Victorian house that has loads of things that need fixing or updating. I know if we had an emergency at home right now we would really struggle to pay to fix it, no matter what that was. I definitely wouldn’t want the stress of trying to figure out where to get the money from right on top of Christmas either.
Vivus are a loans company, not a broker, who offer smaller loans compared to banks. They offer loans from £100 to £500 with payment terms from 10 to 41 days. Vivus don’t want their customers to get into debt which is why they offer realistic terms that can easily be paid back on your next pay day. A Vivus loan could help you out of a short term difficulty.
There are so many loan companies out there now with insane interest rates. We’ve all seen those adverts with the 1000% interest rates in the smallest text possible and those kinds of loans are scary as hell. That is not what Vivus is all about though. Vivus customers are in control of when their loan is paid back and the first loan has a half price interest rate of 0.04% per day, which then rises to 0.08% for further loans.
As you can see from the image above, you could borrow £200 for 20 days and only pay back £16 in interest.
What I love about Vivus is that the whole process is really easy. Everything is done online and the application process is really simple. One of the most important things for me is that there are no hidden fees and the terms are super clear.
As with all loans though, if you don’t repay on time you will incur late fees.
You have 5 days to make the repayment before any late charges or additional interest is applied. If payment is not received after 5 days, a late payment fee of £12 is charged and interest is added on a daily basis, from the due date until payment is received. Late interest is at the same rate as the loan (i.e. 0.4% per day for the first loan and 0.8% per day for subsequent loans.)
Disclaimer: This post is in collaboration with Vivus. All opinions are our own.