When I first came across “CashBob” I have to admit – my first thought was – “What kind of a name is CashBob?!” But, as with any payday loan firm, I decided to give them the benefit of the doubt and take a quick look at them.
On first glance I don’t mind admitting that I didn’t think much of them – the website is kind of flimsy with little information and, in a bizarre twist their opening hours are between 8am – 4pm. The majority of payday loan companies are open between 8am – 8pm (or there abouts) so that they can deal with their customer’s needs as and when they need to.
This suggests that CashBob are a predominantly digital company with little customer interaction. Whilst I personally don’t have an issue with this as I don’t necessary want to talk to a member of the customer service team it does make the company appear rather impersonal… especially to people who want that personalised service.
Having said that they are still an approved payday loan lender and they operate a responsible lending programme where they will only lend to people who they believe can repay the payday loan at the end of the month.
Like the majority of lenders they offer short term loans between £100 – £800 for the monthly term with an interest rate of £25 for every £100 borrowed. The APR is 4735%, however, as mentioned previously – this is an innacurate measurement of the amount of interest you repay as this APR is based over a 12 month period – not a single month payment.
As mentioned before – they’re very much a no-frills company but if you’re after a quick payday loan then you could do worse than using CashBob.
Sound interesting? Compare payday loans with Creditwindow to find the right one to suit your needs.