Unsecured loans
Need a little extra cash today? You can apply for an unsecured loan quickly and easily with Moneyboat and get up to £1,500 as an existing customer or from £200-£800 as a new customer.
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 www.moneyhelper.org.uk.
Simple
Apply for a loan hassle-free with an easy application process.
Direct
Get the money you need sent directly to your bank.
Fast
Funding can be released to our approved customers within 15 minutes.*
Reliable
Free application process with transparent borrowing charges.
What is an unsecured personal loan?
An unsecured loan is a type of payday loan that doesn’t require a guarantor or for the lender to hold something as collateral if you fail to repay the loan amount.
This means that, unlike banks and other large lenders, we won’t ask you to provide details of someone who would be able to make the payment for you if you’re not able to pay, or for you to give us a large purchase like a car or a house in place of any payments you missed.
Non-secured loans tend to have a higher annual percentage rate because of this – an unsecured loan will usually have a higher interest rate to make sure that if you can’t make all your payments, the lender doesn’t lose lots of money.
However, it’s worth knowing that even though unsecured direct lender payday loans online don’t require any security from you, the lender has the right to recover the loan in some way if you do not repay it, such as through charges or interest fees, so it’s important to make all your payments on time!
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 payday loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Can I apply for a Moneyboat unsecured loan?
With our unsecured short-term loan, you can apply to borrow between £200 and £800 as a first-time customer, or up to £1,500 as an existing customer, as long as you’re eligible for the loan. This means that you need to meet all of the following criteria:
You must be at least 18 years old and a resident of the UK.
You need to have a regular source of income to demonstrate that you can repay the loan - this includes full-time and part-time employment with a steady income and does not include those on benefits, or those who have had a CCJ or declared bankruptcy in the last three years.
You'll also need to have a UK bank account in your name so that the payday lender can deposit the loan funds and collect repayments.
You must also pass a credit check, which assesses your credit history, searches for a history of CCJs and determines your creditworthiness.
All responsible direct lenders have the same criteria that you need to meet, and we will consider every application equally. You can always speak with our friendly customer service team if you’re unsure that you meet all of the requirements.
Can I apply for an unsecured personal loan with bad credit?
If your credit history is less than perfect, then you can still apply for an unsecured loan, although approval for this type of loan might be more difficult. As we said above, there are several different checks you have to pass before any responsible lender will approve your loan.
You need to be seen as responsible with your money and able to pay it back on time for a direct lender to trust that you will do the same with their product.
However, you can still apply for a bad credit loan with Moneyboat. We check every application on an individual basis to make sure that our product is right for you, and as long as you can prove that you can afford the repayments on time, we will be happy to consider you.
Trusted Direct Lender
We directly lend payday loans to our customers without involving any brokers.
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.
No Guarantor Needed
You don't need a guarantor to apply for our payday loan, as we provide an affordable loan solution based on your financial requirements.
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
Advantages of an unsecured loan
No collateral is required to take out an unsecured personal loan
No guarantor needed to apply
Can get you the money you need quickly
Disadvantages of an unsecured loan
Unsecured loans have higher interest rates than secured loans
An unsecured personal loan may not be right for you – check out payday loan alternatives today to find out more
If you fall behind on payments on your unsecured loan, you could still be expected to pay additional fees or charges
Unsecured loans have a lower amount you can borrow than secured loans
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.
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 payday loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.