Fast and flexible £500 loans for unexpected costs
Find help with emergency expenses with a £500 loan from Moneyboat. Get approved and you could have the cash in your bank account in as little as 15 minutes*.
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 1,267.9% APR.
Compare Moneyboat loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Why customers rate Moneyboat as ‘Excellent’
Pay for urgent costs with our short-term £500 loans
Your washing machine flooding your kitchen or pet needing urgent vet care can never come at a good time. If you don’t have cash to spare, a short-term loan of £500 can give you quick access to the money you need.
What can I use a £500 loan for?
A £500 loan borrowed short term is designed for you to use in emergencies or unexpected situations where you need cash quickly to keep your life running smoothly. This could include covering the cost of:
- Your car needing sudden repairs
- Vet bills
- Home appliances breaking, such as your boiler or washing machine
- Essential house repairs
- Unexpected medical bills
A short-term loan from Moneyboat could help you bridge the gap when you’re running short on cash, so you can get financial support quickly and safely.
Clear costs up front
We allow customers to see all of the costs associated before committing to anything.
Weekly or monthly repayments
Choose between repaying in weekly or monthly installments depending on what suits you.
Bad credit applications welcome
If you pass our affordability checks and requirements, we could offer you a £500 loan.
How much will it cost?
Wondering how much it will all cost? Well, short-term loans can vary in price depending on the amount you borrow and for how long. But no matter the duration, we have a fixed daily interest rate from the start.
- Fixed fees right the way through: We have a daily interest rate of dailyInterestRate, which is applied to the outstanding loan amount.
- Choose the time period for you to repay: You can spread out the cost of your payments over 2 to 6 months with our flexible repayment options.
- Small loans get deposited quickly: You can cover any financial emergencies by taking out loans from £200 to £800, extending up to £1,500 if you’re a repeat Moneyboat customer.
How easy is it to apply?
It’s simple to apply for a Moneyboat loan. You can do it from a device of your choice, and our tailor-made technology means that we process your application quickly and securely.
We just need a few basic details, and many applications are approved automatically.
It’s as easy as three steps:
1. Apply online in minutes
Fill out our hassle-free application and state how much you want to borrow.
2. eSign your emailed approval
Use your device to review your offer and sign digitally to confirm.
3. Funds paid in 15 minutes*
Once approved, money is sent directly to your bank in as little as 15 minutes*.
Will I be accepted?
If you’re wanting to apply for a Moneyboat loan, you’ll first need to meet our minimum eligibility requirements:
- 18+
- Regular income of £1,050
- UK resident with UK bank account
After this, we then assess your application individually and look past your credit score alone. Our affordability checks consider multiple factors – this means you can still apply for a £500 loan if you have a less-than-stellar credit history.
Our short-term loan can be a lifeline when you are in a desperate or emergency situation, but it may not be best to borrow £500 if you are struggling with repaying debts. It’s best to try repairing your credit score and learning how to build a budget for yourself to help you avoid having to borrow in the future.
We carry out a credit check on every application, as regulated by the Financial Conduct Authority (FCA) – there’s more information on what you can expect a credit check to bring up in our guide on how credit checks work - however, this may not negatively affect your application if we find that you are still a suitable candidate for our loans.
Is Moneyboat a responsible lender?
Moneyboat is an FCA-approved lender, and we pride ourselves on ensuring that every one of our approved customers receives a loan that works for them. This means we always follow responsible lending guidelines, and we only provide a £500 loan if it makes sense with your current financial situation.
- We are a direct lender, meaning you borrowing from us without involving any brokers
- We provide transparent pricing, meaning there are no hidden fees
- We offer UK-based support, and our offices are open from Monday to Friday 8am–7pm
- We are FCA-regulated – you can find us on the FCA register under reference number 674154
- We have a wealth of easy-to-understand resources to help you make informed financial decisions
Get the money you need fast and pay back on a flexible schedule suited to you. Our experienced team is here to help you with any questions you may have throughout the application process.
£500 loan FAQs
What is the minimum lending criteria for a £500 loan?
The minimum criteria to obtain a personal loan is that you are over 18 years of age, have a UK bank account, and that you are a UK citizen. Anyone who meets the minimum criteria can apply for a loan. However, as a responsible lender, Moneyboat will carry out extensive affordability checks to ensure you are likely to be able to afford repayments. These checks may include reviewing your credit history, income, and employment status.
How soon will I receive a £500 loan?
Once you have filled out our online application form, we’ll run our affordability checks and determine whether you are a good candidate for a loan. This is usually done on the same day you apply, and if approved, the money can be sent to your account in as little as 15 minutes*.
What happens if I miss a payment?
Terms and conditions will state what happens should you fail to make a payment, but late or non-payment fees will typically apply. There is also potential for you to pay more interest if the loan is taking longer for you to repay.
If you are struggling to meet your repayment responsibilities, it’s vital that you contact our non-judgemental customer support team to work out an alternative repayment plan. See our full guide on what to do if you’re struggling to repay a payday loan.
Where can I get free money advice?
You can get free third-party support relating to your finances from organisations such as MoneyHelper, StepChange, Citizens Advice, and National Debtline. They can provide independent support, help you manage budgets, and give advice and support with debts.
Resources to help manage your money
While you can’t foresee when you will face an emergency expense, the Moneyboat blog has lots of resources and information to help you manage your finances and put some savings aside for the future.
