Please refer to our Cookie Policy for important information on the use of cookies. By continuing to use this website, you agree to this.  

Rather than throw a bunch of percentages at you and hope it sticks, we've put together a real-world example that shows exactly how Drafty works — and how much you could save.
Our friends at Which?, put together this chart to show how much borrowing £100 for 28 days would cost using an unarranged overdraft or payday loan. We've added Drafty into the mix below. (SPOILER: We're the reaaaaally small number.)
Accurate as of 09/07/2016.
Drafty cost computed at 0.18% daily interest. Ratings and recommendation rate aggregated
by which.co.uk.

With a Drafty credit line, you get more than an affordable rate.

Here are some of the perks
you can always count on:

Absolutely No Fees

We've mentioned this once or twice, but it's worth repeating. We charge ZERO fees. Daily interest is interest_perday% on the amount of cash you draw, but you can even repay that back early to save.

Pay At Your Own Pace

We set up affordable monthly payments, based on how much you draw. You're welcome to pay only the minimum amount so you have more time to pay back. It's your choice how much you pay, and we'll send you a monthly reminder to make sure you don't lose track.

Save By Paying Early

If you want to pay more during any month, just login to your account and make an extra payment. Or make additional payments each month and pay off the amount you owe. It's up to you. You get to SAVE more in reduced interest and pay off your credit line sooner, which may help your overall credit.

Flexibility And Compassion

We understand that life happens. It can be stressful when you realise you can't make your next payment -- we get it and want to help! If you know you won't be able to make an upcoming payment, reach out. We'll figure out a plan that works for you.

REPRESENTATIVE EXAMPLE
Annual Interest Rate 65.7%
Total Amount of Credit £1200
% Representative APR 89.7%
This chart shows a representative example of a credit line with Drafty.

What is a representative example
of a Drafty credit line?

Representative 89.7% APR
Drafty is a credit line with a Representative 89.7% APR, and a maximum APR of 91.2%. If you draw £50 against your credit line at 89.7% APR, it would be paid off in 6 months for a total of £60. There are no additional fees. There is no minimum repayment period and no maximum repayment period as long as you continue to repay the minimum payment amount. We don't offer fixed loans under 60 days.