Flexible and fair short-term loans
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 Moneyboat loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Imagine being stuck without a washing machine for weeks, or struggling to get to work without your car because you don’t have enough money in your account to cover repairs. This is where our short-term loan can be useful. Borrow up to £800 today as a new customer with Moneyboat, subject to passing our checks and assessments.
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 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 a short-term loan?
A short-term loan is a payday loan or small cash loan that you can access quickly to cover emergency costs. Short-term loans and payday loans are different terms for the same type of credit. They can be useful if you’re caught short before your next paycheck comes in and are repayable over a short period of between 1-6 months.
What can I use a short-term loan for?
We all know how it feels when an emergency cost appears and it’s only halfway through the month. Times are tough and money is scarce. Now and again, a short-term loan can help to cover one-off expenses that just won’t wait until payday.
Most people who take out short-term loans use them to cover costs like:
Car repairs
Unexpected costs like large bills for essentials
Replacing essential household appliances.
As well as being very convenient, short-term loans can also be expensive, with higher interest rates than some other forms of credit.
Moneyboat short-term loans for you
Here at Moneyboat, we’re all about responsible lending. So, we’ll only lend to borrowers who can afford repayments. We’re here to help you access emergency credit quickly when it’s needed, at fair rates.
Our new customers can borrow from £200 to £800 while existing customers can borrow up to £1,500, subject to passing our credit and affordability checks. A Moneyboat loan is repayable over a minimum of 2 instalments - up to a maximum of 6 months. This means you don’t have to repay the entire balance of your loan on your next payday.
When we assess your application, we’ll always consider the bigger picture. Not everyone is a good fit for payday loans, so it's always worth exploring other options and payday loan alternatives.
How to apply for a short-term loan with Moneyboat
Click on the “Apply Now” button and fill in our free and easy, online application form.
We'll then carry out credit and affordability checks.
Sign and send back your loan agreement which will be sent to you via email subject to approval.
Receive your cash directly into your UK bank account
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
Representative Example
Based on the last working day of each month
Interest rate 288.35% pa (fixed) Representative 1,267.9% APR
Borrow | Payback Period | Monthly Repayments | Total |
|---|---|---|---|
£400 | 4 months | £156.09 | £624.34 |
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Short-term loan FAQs
What are the advantages of short-term loans?
Potentially quick access to funds when facing unexpected expenses like car repairs. If approved, the funds can be deposited into your account promptly.
The online application process can be Easy and fast. Unlike traditional loans, short-term loans often don't require valuable assets as collateral.
Fill the gap when you lack savings or extra cash for emergencies.
Repay the loan over several months instead of a single lump sum, reducing financial strain.
Short-term loans are available even if you don't have an overdraft or credit card.
What are the disadvantages?
Short-term loans typically have a borrowing limit, usually around £1,500 or less. If you require a larger amount, alternative borrowing options may be necessary.
To qualify for a short-term loan, you must have a stable income and hold a UK bank account. Failure to meet these criteria may result in loan denial.
Short-term loans often come with higher interest rates compared to other borrowing options, making them more costly in the long run.
Financial Conduct Authority (FCA) Caps: While the FCA has implemented regulations to limit debt accumulation through short-term loans, the interest rates may still be relatively high.
What should I consider before applying for a short-term 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?
What are short-term loan lending criteria?
You must be at least 18 years old
You must be in full or part-time employment
You must receive a minimum NET pay of £1,000 per month
You must be a holder of a UK bank account and debit card
Can I get free financial advice in the UK?
If you are struggling with your finances or not sure where to start, there are many options offering free advice. Below companies are authorised by the FCA and offer free financial advice:
MoneyHelper: Government service offering free financial advice by chat, WhatsApp or phone
National Debtline: Free and independent debt advice by phone or chat
FinancialAdvice.co.uk: Free debt advice by phone
StepChange: Free debt advice by app or phone
Shelter: Free advice on debt, housing and healthcare by phone and chat
Other resources for help with debt:
How can I make a complaint?
Please take a look at our Complaints Procedure page or contact our friendly customer support by mail or phone.
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.
*Our guide to financial promotions: https://www.moneyboat.co.uk/financial-promotions-info/