Wonga Compared

Technology has made businesses to bring services to customers with more convenience. This is the case with the lending business. You can now borrow money in the comfort of your home using your pc with internet connection without having to email or fax any documents. However, you have to choose the best online lender who will leave you without any regrets. In your search, you may come across Wonga and also mypaydayloansonline.co.uk. Here is how to identify the best between the two:

Knowing how much you need in order to satisfy your pressing needs is of importance. This is because it gives you the idea of how much you need to borrow from the online companies. If you are a first time borrower using the online service, at Wonga you cannot borrow more than £ 400. However, at mypaydayloansonline.co.uk you can borrow as much as £ 1000.
Mypaydayloansonline.co.uk also ensures that you borrow a substantial amount that will help you accomplish something. This is through their minimal rate of £ 100. On the other hand, the minimum at Wonga is anything from £ 1 an amount you can forego borrowing. This can subject you to dependence on borrowing without reason.

Payday loans are accorded to you to cater for your needs until your next payday. Therefore, the interest rate need not be overwhelming for you when you get your next pay. You should be able to pay the loan and interest and remain with some cash to make your life comfortable. Having to go back to borrow because you loan payment left your broke is not appealing at all.

Consequently, if you want to pay the lowest interest rate, mypaydayloansonline.co.uk is the best stop for you. With an interest rate of 1737%, you will not need to borrow after your payday but on another day when you have an emergency. However should you go for Wonga the interest rate is a whopping 4214%. This is an interest rate enough to render you to slavery of borrowing!

If you want to borrow money, choice of lender must be reasonable. Therefore, between Wonga and mypaydayloansonline.co.uk, the latter enables you to take care of emergencies and does not subject you to the slavery of borrowing!