Our marketing terminology explained
Our financial promotions explained
Let’s be clear about financial promotions
We always seek to ensure that all our customers, both current and future, can fully understand our communications and financial promotions on all of our advertising and communication channels.
By doing so we can assist our customers in making an informed decision as to whether one of our loans is right for them.
There are a lot of rules that apply to advertising and financial promotions, and whilst we don't mention them all on this page, we have added some information to this page to assist in explaining some of the messages we include in our promotions.
Should you have any questions regarding this website, or any of our information, please contact us, and our team will be happy to explain further.
We want to help our customers to meet emergency costs as quickly as possible, and work with a payment partner to allow us to release funds to approved customers every 15 minutes.
We often use the term ‘15-minute funding’ to reflect this and to promote this useful feature to borrowers.
‘15-minute funding’ means that funds can be deposited into customers’ bank accounts within 15 minutes once all checks have been completed. This doesn’t mean that funds will be available within 15 minutes from the start of the application, or within 15 minutes of signing your loan agreement. There are a number of checks that must be completed first and provided there are no concerns identified by these checks, funds will then be released. We’ll let you know when all required checks have been completed and provided there are no further issues, you should receive funds into your bank account within 15 minutes of final approval.
We are authorised and regulated by the Financial Conduct Authority (or ‘FCA’ for short). This means that we are listed on the FCA’s Financial Services Register, and our register number is 674154. Just so you know, Moneyboat is a trading name of Evergreen Finance London Limited, which is the name you’ll see on the Financial Services Register. You can find out more about the FCA on their website.
Firms that are registered with the FCA must agree to follow a strict set of rules which are laid out in the ‘FCA Handbook’. In the UK, payday loan providers (which are sometimes called ‘high-cost, short-term credit providers) are regulated by the FCA. Before you obtain a loan or other financial service from any provider, you should always make sure that they hold the appropriate permissions on the FCA register, and if you’re in doubt, you can contact the FCA. We know that it can sometimes be tempting to obtain funds from organisations that promise to get you funds very quickly or at very low rates, but if they aren’t registered with the FCA, these providers can often be ‘too good to be true’ and in some cases, can also be dangerous.
Our daily interest rate is 0.7%, which is below the FCA’s cap of 0.8% per day for the high-cost, short-term (or ‘payday’) loan industry.
We consider our interest rate to be very competitive when compared to those of similar providers, and have put together this table to show how we compare to others, and what our interest rate is when put against theirs.
Maximum loan amount
Representative APR example
Representative APR %
Interest rate pa (fixed)
Daily interest rate
Amount – New
Amount – return
£300 – £1,500
£300 – £1,500
3 – 9 months
Borrow £700 for 6 months at 185.39% p.a. (fixed). 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, last monthly repayment of £112.20. Total repayment £1,179.05
£50 – £800
£50 – £1,500
6 – 12
Borrow £200 for 6 months at 292.0% p.a. (fixed). Six monthly repayments of £64.44. Total repayment £386.61
£50 – £1,500
£50 – £1,500
2 – 12
Borrow £300 for 3 months at 292% p.a. (fixed). Three monthly repayments of £152.65. Total repayment £457.95
£200 – £800
£200 – £1,500
2 – 6
Borrow £400 for 4 months at 255.5% p.a. (fixed). Four monthly repayments of £149.37. Total repayment £597.48
£300 – £600
£300 – £1,500
3 – 6
Borrow £300 for 3 months at 292% p.a. (fixed). Three monthly repayments of £151.46. Total repayment £454.37
How we select other lenders
We include a selection of some of the most popular lenders in the payday loans industry based on our own research. You shouldn’t draw any conclusions from the inclusion (or exclusion) from our list, and we would encourage you to do your own research on which firm is right for you.
How up-to-date is this data?
We last reviewed this data on 26 September 2022 and we aim to update it regularly.
How did we get this data?
The data we’ve provided from Moneyboat is available on our website, but you will always be provided with the exact terms of your loan at the point you apply.
For the other lenders, we’ve obtained the information listed from their website, which we’ve provided links to in the table. Because this information is from third parties, we can’t guarantee that it’s accurate and you would need to contact the relevant lender directly to confirm the rates and amounts that would apply to you.
What’s the difference between amounts loaned to new and returning customers?
Some lenders (including Moneyboat) lend different amounts to someone depending on whether they’re a new or returning customer (i.e. they’ve previously had a loan with the lender). Where these figures are provided, we’ve listed them here.
We’ve provided information on the loan terms available generally, but you will need to check a providers website for the exact details. For example, some lenders will offer different repayment terms depending on the amount of a loan.
Understanding the representative APR
The APR is a rate used to show how much a loan would cost you if it was taken out on an annual basis. It includes all fees and additional charges and is designed to make loans with different amounts and terms easier to compare.
When loan providers give their APR, they’ll provide a representative example, which breaks down a theoretical amount of money, borrowed over a certain period of time. We’ve included these examples in the table above, which have been obtained from each lender’s website, along with the APR percentage rate. Because the examples don’t all use the same amounts and terms, the APR rates can’t be directly compared to one another, but they can still be useful for assessing the general cost of a loan.
The daily and yearly fixed interest rate
The final two columns in the table provide the fixed interest rate on a yearly (per annum or ‘p.a.’) and daily basis. You can obtain the daily figure by dividing the yearly figure by 365 (the number of days in a year). Because payday loans are designed to be used in emergency situations over shorter periods of time, the daily rate can sometimes be a better way to assess what the cost of a loan is likely to be. However, it’s important to fully investigate and understand the costs before you apply for any product, whether it’s with Moneyboat or anyone else.