Best value

The Money Platform

Loans from £250 to £100

A loan with The Money Platform can cost between 0.3% and 0.7% interest per day, so between £0.30p and £0.70p per day per £100 borrowed. The Money Platform are a unique peer to peer short-term lender.

About The Money Platform

A loan with The Money Platform can cost between 0.3% and 0.7% interest per day, so between £0.30p and £0.70p per day per £100 borrowed. The Money Platform are a unique peer to peer short-term lender. You can borrow £250 to £100 for  repayment over 3 to 12 weeks and you repay the amount borrowed plus the interest in one payment on your scheduled due date.

Representative Example: Borrow: £1000 for 12 weeks. Interest rate: 109.5%. One repayment of:£1252. Representative: 165% APR

How quickly do I get my loan?

Your Money Platform loan rate will depend on your personal circumstances and you can get a quote on their website in 90 seconds without it affecting your credit score. As long as you have been approved before 3pm on a weekday the funds will usually be in your account within a few hours. After this time the loan will likely be funded the next business day. Weekend and Bank Holiday applications will also be delayed until the next working day.

How do I repay my loan?

Money Platform will collect the amount due from your debit card on the agreed repayment date which will be confirmed during the application process.  Early repayment options are available without penalties with Money Platform. It is important that you make sure your account is in credit on this date to avoid extra interest and late fee payments.

What happens if I miss payments?

If you are more than 48hrs late with your repayment, The Money Platform will charge you a one-time fee of £15 for missing this payment. You should contact the team as soon as possible as interest may continue to be added to your loan whilst it is in default. You can call their customer care team on 020 7873 2266 and they will work with you to find a suitable affordable solution to get the loan account settled.  It is important to realise that late payments can result in a trace being left on your credit record and every effort should be made to contact the customer care team early to avoid this.

Loan Qualification Criteria

  • Be at least 20 years old
  • You’ll need to confirm your identity
  • You must have a UK bank account and valid debit card
  • Have a UK current account and a credit history that we can see
  • Be a current UK resident
  • Have a good track record of repaying debt
  • Have 3 years of address history in the UK
  • Be able to afford the loan

Regulator information

  • The Money Platform are authorised and regulated by the Financial Conduct Authority
  • The Money Platform is a trading name for Gracombex Ltd

APPLY NOW

The Money Platform

020 7873 2266 helpdesk@themoneyplatform.com themoneyplatform.com

WARNING:

Please be aware: Defaulting on your loan will negatively impact your credit rating!  Late repayment can cause you serious money problems – be sure you can take on a loan. For facts on borrowing, plus advice we would recommend the following unbiased organisations:

  • www.nationaldebtline.co.uk
  • www.payplan.com
  • www.stepchange.org
  • www.moneyadviceservice.org.uk

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