Instant Loans

Is an instant payday loan the right option for me?

Emergency loans make money available to you quickly, sometimes even on the same day. They’re designed to help you when you’re in a desperate situation that requires you 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 – instant loans, fast payday loans, emergency loans, etc. 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 that suit your schedule.

If you’ve been struggling with money for a long time, then a short-term loan from Moneyboat may not be right for you, though. Organisations like StepChange and MoneyHelper can provide you with the support you need to recover from debt struggles.

The Moneyboat alternative to fast payday loans

We offer a flexible payday loan that is right for your circumstances, so you can make affordable, manageable repayments, or you can pay it back in one go without facing fees or penalties. You can find out whether you’re eligible to apply for a short-term loan by checking out our eligibility requirements.

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

Alternatively, check out the alternatives to payday loans if a loan doesn’t feel like the best option for you right now – there are lots of different options you can look into, from personal loans to credit cards, that might have better terms and lower interest rates. Or, you could consider borrowing from friends and family.

Am I eligible for a quick payday loan?

The requirements that loan lenders have vary across the industry, and some will be stricter than others. The minimum requirements that responsible lenders need to meet come from the Financial Conduct Authority, for your safety. So, we need to check:

• You are at least 18 years old and a resident of the UK.

• You have a regular source of income of at least £1000 per month - this includes full-time and part-time employment with a steady income. This does not include those on benefits.

• You haven’t had a CCJ in the last 12 months or been declared bankrupt in the last three years.

• You have a UK bank account in your name.

When you apply for a Moneyboat loan, we’ll also assess your financial history, with a credit check – this is to see if you have a history of bankruptcy or CCJs (there’s more information on this in our guide: What is a CCJ?), which lets us know if you are suitable for a loan. As we mentioned above, though, we always assess every application on a case-by-case basis, so you could still be suitable for our short-term loan even with a credit score that isn’t 100%.

Representative Example

Based on the last working day of each month

Interest rate 255.5% pa (fixed) Representative 939.5% 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/fi...