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Fast Small payday loans are usually higher rate of interest for short-term loans same day designed to bail out people until their next pay day. So,customers have until the next payday to pay the loan plus interest. Nevertheless, some of the uk lenders allow their customers to determine the most appropriate repay period.Fast Small payday loans are usually higher rate of interest for short-term loans same day designed to bail out people until their next pay day. So,customers have until the next payday to pay the loan plus interest. Nevertheless, some of the uk lenders allow their customers to determine the most appropriate repay period.