Pricing and terms
One fair rate, shown in full before you borrow
Your interest rate is agreed between Credx and your employer, so it isn't set against you. The app shows the interest, the total and every due date before you accept.
Loan length
1 to 12 months
Repayments
On each payday, collected automatically
Interest rate
Agreed with your employer, the same for all staff
Grace period
7 days after a missed due date
Early repayment
Allowed at any time
Where the money goes
Your Credx wallet
How your limit is set and grows
Your limit is based on your verified income, your employment, your repayment history and our credit assessment.
Repay on time and build a good repayment history, and your limit can grow over time.
All loans are subject to approval.
If a repayment is late
Credx loans are payday loans, not monthly loans: each repayment is due on your payday.
If a repayment isn't paid within 7 days of its payday, a daily late charge is added, worked out as a percentage of that overdue repayment, for each day it stays unpaid. The exact percentage is shown on your loan summary before you accept.
If you think you'll miss a repayment, talk to us in the app as early as you can.
What you won't pay
No charge appears on your loan that wasn't on the summary you accepted.
The full loan terms are on our loan terms page, and the same terms are shown in the app before you apply.