Instalment loans
Are you looking for a straightforward and affordable loan you don’t have to pay back all at once? An instalment loan from Moneyboat allows you to spread the cost of a loan over a longer and more manageable period.
Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. Compare Moneyboat loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Simple
Apply for a loan hassle-free with an easy application process.
Direct
Get the money you need sent directly to your bank.
Fast
Funding can be released to our approved customers within 15 minutes.*
Reliable
Free application process with transparent borrowing charges.
What is an instalment loan?
No one expects to be caught short financially, and sometimes a loan before payday can help tide you over until you get back on your feet. With a personal instalment loan, you apply for the money you need and agree on the amount of time over which you would like to repay the loan up to 6 months. An instalment loan is a payday loan that works by allowing you to repay your loan over a longer time, which can make things more manageable – this could have a smaller impact on your monthly or weekly take-home pay, after repaying your monthly instalment, than a one-time loan. Because the interest on a personal instalment loan is charged daily, your repayments get smaller and progressively more manageable but you will end up paying more overall. This also means that repaying your loan early is potentially achievable too.Representative Example: Borrow £400 for 4 months, 4 monthly repayments of £156.09. Total repayment £624.34, interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%.
Compare payday loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Why borrow an instalment loan from a direct lender?
Here at Moneyboat, we understand that emergencies happen and sometimes you just need a little extra money to cover expenses that might pop up, and to keep you going until you get back on your feet.
There are many reasons why you may want to consider taking out a loan from a direct lender and our short-term loan is no different. You might need an instalment loan to help you cover:
Financial emergencies when you need money fast
Debt consolidation
Dental and medical treatment
Emergency travel expenses
Unexpected bills
Trusted Direct Lender
We directly lend payday loans to our customers without involving any brokers.
Multiple Borrowing Options
Approved new customers could borrow £200-£800, and existing customers could borrow up to £1,500 upon passing credit and affordability checks.
No Guarantor Needed
You don't need a guarantor to apply for our payday loan, as we provide an affordable loan solution based on your financial requirements.
Friendly Advisors
Our experienced team is here to help you with any questions you may have throughout the application process.
Moneyboat's service is rated Excellent
How do Moneyboat instalment loans work?
If you pass our eligibility requirements and we accept you for our instalment loan, we will work together with you to figure out the amount of credit you wish to borrow, how many repayments you want to split the loan over and when your monthly repayment date will be.
Our loan is not like lots of other payday loans, because we can offer you the chance to access money quickly, but without having to repay the entire amount in one go. Being more flexible like this means our loan could help you to make sure your repayments are made on time when it suits you best.
It’s helpful to remember that all lenders tend to charge late payment fees if you don’t make your payments on time, and this may also affect your credit score. So, you need to be sure that you can afford our instalment loan before you apply because you don’t want to get caught in a negative cycle of debt. If you are struggling with repaying your debts, go to www.moneyhelper.org.uk.
Instalment loans for bad credit
You may be finding it hard to get an instalment loan with a bad credit history and we understand that this can be incredibly frustrating and stressful. Poor credit history can make lenders more likely to refuse your application for the loan you need. We, however, assess each and every application on its own merit, so as long as you meet our lending criteria, you may be accepted for a Moneyboat instalment loan of up to £800 as a new customer.
Representative Example
Based on the last working day of each month
Interest rate 288.35% pa (fixed) Representative 1,267.9% APR
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Representative Example: Borrow £400 for 4 months, 4 monthly repayments of £156.09. Total repayment £624.34, interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%.
Compare payday loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.