Instant loans

Is an instant loan the right option for me?

Instant loans make money available to you quickly, sometimes even on the same day. They’re designed to help you when you’re required to spend money you might not have to hand, such as needing to fix a broken washing machine or pay an emergency bill. While these situations are stressful and you want to resolve them as quickly as possible, it’s important to make sure you’re looking for help in the right place.

There are lots of loans out there with different names, such as instant approval loans, fast payday loans, and emergency loans. Typically, payday loans are designed to be paid back the next time you’re paid, but our loan product is much more flexible.

We offer one type of loan to our customers – a short-term loan that you could receive within 15 minutes of being accepted, which can be paid back in instalments over two to six months, or in full when you’re next paid.

If you’ve found money management challenging for a long time, or are struggling to keep up with priority bills, then an online instant loan might not be right for you. Organisations like StepChange and MoneyHelper can provide you with the support you need to recover from debt struggles.

The Moneyboat alternative to instant payday loans

We offer a flexible, short-term loan designed to help you make affordable and manageable repayments over two to six months. You can also pay it back in one go when you’re next paid, without facing fees or early repayment penalties.

When applying for instant loans in the UK, a reliable lender will conduct a credit check. But you could be considered for quick and safe cash, even with an imperfect credit history. With our short-term loans, we look at every application individually. So, if you meet our key eligibility criteria, you could be approved and have the funds deposited in your bank within 15 minutes*. 

You can find out whether you’re eligible to apply for a short-term loan by checking our eligibility requirements.

While you might be looking to get a loan instantly, we can’t always guarantee that you’ll receive the loan this fast. This is because we carry out thorough affordability checks to ensure each applicant is a good fit for the product.

Don’t forget, you can check out the alternatives to payday loans if an immediate loan doesn’t feel like the best route for you right now. There are various options you can look into, from personal loans to credit cards, that could also offer flexible terms at a lower interest rate. Or, you could consider borrowing from friends and family if immediate loans don’t seem like the right option.

Am I eligible for an instant approval loan?

When it comes to getting instant loans from direct lenders in the UK, eligibility requirements can vary, and some lenders may be stricter than others. The minimum requirements that responsible lenders need to meet come from the Financial Conduct Authority (FCA), for your safety.

When you apply for one of our short-term loans, we’ll check:

• You are at least 18 years old and a resident of the UK
• You have a regular source of income of at least £1,000 per month – this includes full-time and part-time employment
• You haven’t had a County Court Judgment (CCJ) in the last 12 months or been declared bankrupt in the last three years
• You have a UK bank account in your name

We’ll also assess your financial history with a credit check. We always assess every application on a case-by-case basis, so you can still apply for a short-term loan even if you’re still improving your credit score. 

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

*Our guide to financial promotions: https://www.moneyboat.co.uk/marketing-terminology-explained/