Wonga 6 Month Flexi Loan

APR: 1086% Representative
Loan amount: £200 - £600
Repayment duration: 6 - 6 Months
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Our review by Mark
Written by: Mark
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  • Funds within 5 minutes of approval
  • You have 3 days after your payment due date before being charged a missed payment fee
  • Repayment duration is 6 months
  • Existing customers can apply for up to £2,000
  • Flexible repayment date

Minimum criteria

  • You must be aged 18 or over
  • You need to be a UK resident
  • You must own a mobile phone
  • You need to have a bank account with debit card


  • Maximum APR 1098%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £15

About Wonga 6 Month Flexi Loan

Among Wonga’s product offering is their instalment option called Flexi Loan. Flexi Loan amounts range from £200 to £2,000 that can be repaid in six monthly repayments (minimum term of 164 days, maximum term of 188 days) at a representative APR of 1,086% interest is charged at 0.75% per day. New customers can borrow up to a maximum of £600, however if they repay this on time then they may be able to borrow up to £2,000 on their return.

As part of the application process customers can select their repayment date, which will be the same each month. Wonga provide all their applicants with a detailed repayment schedule including the total repayable amount. As the application process is completely online, there is no paperwork to send in or phone calls to take and the loan is signed by customers pressing ‘I accept’ on their loan agreement. Once this is completed and processed by Wonga, the funds can appear in your bank within five minutes, depending on your bank.

Customers are able to repay their Wonga Flexi Loan early and there is no fee for doing so, they simply need to log in to their account on the website and follow the instructions.

Default interest continues to be charged at 0.75% per day following the relevant repayment date. Default interest will become due on the following repayment date. You’ll never have to pay back more than twice the amount you borrowed. So if you borrow £200, the most you would have to repay would be £400.

Late payment fee is payable three days after the repayment date. Interest does not accrue on the late payment fee.

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk