Short-term loans you can pay monthly

Short-term loans you can pay monthly

If you're looking for a way to get some cash quickly, and you want to pay it back monthly, Moneyboat's short-term loan could be the solution for you. Our loan allows you to make payments in instalments that align with your schedule, meaning you don't face extra struggles when it comes time to repay.

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.

What are pay monthly loans?

Pay monthly loans, or instalment loans, are a way to borrow money that you pay back in fixed amounts each month. It breaks down the total amount you borrow into manageable monthly chunks, with added interest.

Whether you need help covering unexpected expenses like car repairs, want to make a big purchase before payday, or even tackle some home improvements, a pay monthly loan could help you cover those costs until you can afford to pay them back.

Unlike credit cards where the repayment amount changes, with monthly loans, you make steady payments every month. This way, you avoid the up-and-down costs of credit cards and any extra charges.

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.

Moneyboat’s alternative to pay monthly loans

Our short-term loan is designed to come to the rescue when you find yourself a bit tight on cash before your next paycheck. It's repayable within a short timeframe, spanning anywhere from 1 to 6 months.

When you choose a Moneyboat loan, the repayment process is very flexible. You'll need to make a minimum of two instalments, which can be scheduled weekly or monthly, depending on your pay schedule. This approach ensures that you're not burdened with repaying the entire loan balance on your next payday.

For first-time borrowers, you can access amounts ranging from £200 to £800, while our trusted existing customers may be eligible for loans up to £1,500, upon successful completion of our credit and affordability assessments.

What should I consider before applying for a pay monthly loan?

Before applying for any form of credit, it’s worth thinking about the following:

• Do I really need the money?

• Is there any other way I can get the money without borrowing?

• Do I understand how much this is going to cost me?

• Is the lender trustworthy?

• Can I afford the repayments?

• Is my income stable?

• Do I fulfil the criteria?

• How’s my credit score?

How to apply for a short-term loan with Moneyboat

1. Click on the “Apply Now” button and fill in our free and easy, online application form.

2. We'll then carry out credit and affordability checks.

3. Sign and send back your loan agreement which will be sent to you via email subject to approval.

4. Receive your cash directly into your UK bank account

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: 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.

*Our guide to financial promotions: https://www.moneyboat.co.uk/fi...