Moneyboat.co.uk is an instalment loan lender offering 2 – 6 instalments loans of up to £1,500. They have a very competitive APR of 939.5% and their daily interest rate is 0.7% which is lower than average payday lenders.
Moneyboat.co.uk is a direct lender and this means that you can apply directly on their website and if approved, you will receive the funds directly in to your bank account. They are based in the centre of London and are operated by Evergreen Finance London Limited. The company do not have a storefront so all applications are handled online or over the phone with their discrete and friendly staff.
How much can I borrow with MoneyBoat?
First time borrowers with Moneyboat.co.uk can borrow from £200 to £800 subject to relevant credit checks and affordability checks. This will include a review of your credit file to get an idea of your credit history and affordability measures may require proof or confirmation of your salary and income.
Repeat customers can borrow up to £1,500 but this will also depend on your affordability and whether you are able to keep up with the instalments.
How do repayments work with MoneyBoat?
Repayments with Moneyboat.co.uk are collected automatically via the customer’s account on their payday. Using continuous payment authority, a customer’s account can be automatically debited for collection on the day they receive their salary to ensure a smooth repayment.
Customer repayments are carried out in equal monthly or weekly instalments. The minimum of 2 instalments and up to 6 instalments.
Moneyboat.co.uk allow you to repay early at anytime. Since you are charged a daily interest, it will always be cheaper to repay early.
Representative Example: £400 loan for 113 days (4 instalments), Total: £597.48. Interest £197.48. Interest rate 255.5% pa (fixed). Repay £149.37 for 4 payments.
Extra information about MoneyBoat
- Opening hours are weekdays 8:30am – 5:30pm.- They do not lend to students- There is a default fee of £15 maximum for late repayment- Company Number: 07669210 registered in England and Wales- Data Protection: Z3596140- FCA Interim Permission Number: 655011 Warning: Late repayment can cause you serious money problems. For help, go to www.moneyadviceservice.org.uk.