Typically, the interest charge on a one month loan can be high. This means even though you have borrowed for a very short period, you can end up paying a large amount of interest on top. Where possible, it is better to choose a repayment term you can afford to maintain and will spread this cost. Whilst our short term loans do not have the lowest interest rates, having longer to repay will mean more affordable monthly repayments. Before applying for any short term borrowing, you should check to see what the interest charge will be. Our loan calculator will clearly show how much the interest is for the loan amount and term you choose. Only if you are happy with the terms should you then apply for the loan.