Bad Credit Payday Loans

Getting a fast loan when you have a poor credit score can feel tough. At Moneyboat, we consider every loan application equally, so even if your credit score isn’t great, you could get up to £800 as an approved new customer today*. How much do you want to borrow?

Representative Example: Borrow £400 for 4 months, 4 monthly repayments of £149.37. Total repayment £597.48, interest rate p.a. (fixed) 255.5%. Representative APR 939.5%. Compare Moneyboat loans.

Warning: Late repayments can cause you serious money problems. For help, go to

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Is a payday loan with bad credit right for me?

Everyone experiences emergency situations, like your washing machine flooding your kitchen or your car breaking down just as you're about to take your kids to school. When that happens, your credit score will be the last thing on your mind.

When these unexpected costs crop up, you shouldn’t have to worry that you can’t get the help you need. Here at Moneyboat, we think that everyone should be equally considered for safe and quick cash, even if your credit history isn’t perfect.

We take a look at each application for our instalment loans on a case-by-case basis, and if you meet our key eligibility criteria, your application could be approved, and funding deposited in your bank within 15 minutes*.

Can I get a Moneyboat quick loan even with bad credit?

While traditional instant loans for bad credit were designed to be paid off when your wages were paid at the end of the month, Moneyboat loans work a little differently. We offer a short-term, flexible payday loan that is right for your circumstances, so you could get a same-day loan even with bad credit. You can pay back our short term loan in affordable, manageable repayments, or you can pay it back in one go without facing fees or penalties.

Short-term loans from direct lenders like Moneyboat aren’t meant for long-term expenses. If you’re struggling with money over a longer period of time, an instant loan for bad credit might not be right for you – you can reach out to organisations like StepChange or MoneyHelper for more support. However, if you manage a bad credit payday loan responsibly, it can be very helpful in an emergency. You can find out whether you’re eligible to apply for a short term loan by checking out our eligibility requirements.

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Trusted Direct Lender

We directly lend to our customers without involving any brokers.

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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.

Payday feature

No Guarantor Needed

You don't need a guarantor to apply for our payday loans, as we provide affordable loan solutions based on your financial requirements.

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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

Why choose a Moneyboat payday loan?

Our loan is referred to in lots of ways – payday loans, short-term loans, quick loans, but at the core of it, we provide a flexible instalment loan. Here are some quick facts about what we offer so you can figure out whether we’re right for you:

  • New customers can send us an application for between £200-800
  • Existing customers who have passed our credit checks are eligible to apply for loans of up to £1500
  • Our interest rate of 0.7% per day is lower than the industry's maximum
  • Our repayment terms are flexible, from two to six instalments.
  • You will always have the option to repay your loan early without penalties
  • For our new customer, we'll never ask your first instalment to be paid in less than five days, so you'll have plenty of time to manage your money
Flexible working requests remote working working from home

How do I check if I’m eligible for a bad credit payday loan?

Direct lenders across the industry will have their own criteria that you need to meet, but the minimum requirements that responsible lenders need to check for include:

  • 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

Here at Moneyboat, your application will also include a credit check, to perform a credit worthiness assessment, this will look through your financial history to check whether you would be suitable for a loan. As per our eligibility criteria mentioned above, this also looks for any recent CCJs or bankruptcy – there’s more information on this in our guide on ‘What is a CCJ?’.

Everything you need to know about payday loans

Want to fix your poor credit score?

Improving your credit score takes time and lots of effort, and we give a lot of advice and information in our guide on how to improve your credit score. Remember, there are plenty of quick fixes that can provide some immediate improvement for you, but getting a good credit score requires you to develop some responsible financial habits, such as:

  • Paying your bills on time
  • Not taking out any more loans or credit cards
  • Managing your debts and paying them on time

If you want to find out more about whether an instalment loan is right for you, or if you have a specific query, get in touch with our friendly support team.

Representative Example

Based on the last working day of each month

Interest rate 255.5% pa (fixed) Representative 939.5% APR

BorrowPayback PeriodMonthly RepaymentsTotal
£4004 months£149.37£597.48

Warning: Late repayments can cause you serious money problems. For help, go to

*Our guide to financial promotions