A new program where lenders can earn cash off their payday loans has been introduced by Cashfloat.co.uk.

It allows customers who take out a loan after December 14 to claim five percent of their loan’s interest if they qualify.

Qualifying is simple: just opt-in during your application, complete a short survey when your loan is done, accumulate over £50 of interest and don’t miss any payments during the lifetime of the loan.

Cashfloat.co.uk released a detailed statement explaining the new strategy. It read: “The program is 100% free to join. If a customer qualifies for cashback and completes the survey within the required timeframe, the money is transferred to their bank account automatically.”

Within that statement, a spokesperson for the company discussed their reasoning behind this new program.

They said “Our primary objective is to make our loans safer for borrowers. This new program aims to motivate borrowers to repay their debts on time so they don’t owe high interest rates, especially during an economic downturn.”

Cashfloat.co.uk was first established in 2014, going on to become one of the UK’s top unsecured loan providers.