What is the cost of my loan?
AvantCredit charges an Administration Fee of 5% of the Loan Amount. An Administration Fee is a fee to cover the pre-funding costs associated with the setting up of your loan. This fee is added to the Amount of Credit to make up the balance of your account (also referred to as the 'Loan Amount'). Interest is charged on the Loan Amount.
You will need to pay the daily simple interest accrued on your loan. Your payment schedule will be clearly displayed on your contract before you sign, and also accessible at any time when you log into your account.
If you do not repay on time, you may be subject to a default fee of £12.