Small Loans
Thinking of joining Moneywise? Exclusive to brand-new members , our Small Loans allow you to borrow up to £500 with no credit check!
No confusion, no hassle, just the cash you need, quick.
Moneywise Small Loans: Smart. Simple Sorted.
What is a Small Loan?
Our Small Loans are exclusive to our brand-new Moneywise members. If you’ve just joined our community, this loan is for you!
With a Small Loan, you can enjoy multiple benefits:
• Borrow £100-£500.
• No need for a credit check.
• Easy repayment schedule of 6, 9 or 12 months.
• 3% interest per month (42.58% APR).
• Available exclusively to new members.
Whether you’re looking for a cash boost to pay emergency bills, need a little extra to pay for your big food shop or cover the cost of the kids’ school uniforms, or want to buy yourself a well-deserved treat, our Small Loans are here for you.
Can I get a Small Loan with Moneywise?
To be eligible for a Moneywise Small Loan, you must be:
• A brand-new Moneywise member – apply today!
• Aged 18-80
• Living or working in the North East
• Agree to our Credit Union rules
• Pass our approval process.*
You don’t need to pass a credit check to be eligible for our Small Loans. If you’re concerned about your borrowing history, come and chat to our friendly team to find the best loan product for you.
Unemployed and in need of a cash boost? Don’t panic! You can still access our no-credit-check loans. You will simply need to pass an affordability check.*
Become a member to apply
Become a Moneywise member today and apply for loans under £500.
Why join Moneywise?
Our Small Loans are exclusive to brand-new Moneywise members, so there’s never been a better time to join our community!
There are plenty of other benefits to becoming a Moneywise member, including:
- No hidden, early or late repayment fees
- Yearly dividends and no joining fee – we’re a Credit Union, not a bank, so we give back to your community
- Range of flexible loans and savings accounts
- Competitive interest rates
- Fair and realistic repayment schedules
- Face-to-face help available to our branches across the North East – we support you when high-street banks won’t.
Moneywise has been supporting the North East for more than 34 years, so we know a thing or two about finances. There’s some important stuff to consider before you take out a Small Loan with us, such as affordability, wise spending and more. Have a read of our helpful blog post on this very subject before you commit to anything.
If you’ve borrowed or saved with us before, don’t worry, you can still get the cash you need, quick. Find out if you could be eligible for one of our Personal, Family or Debt Consolidation Loans instead.
Small Loan repayment example
Unsure whether you can afford your monthly Small Loan repayments – check out this helpful repayment example:
- You take out a £500 loan with 12-month repayment terms.
- That’s 52 weekly payments of £11.48.
- We charge a fixed interest rate of 36% per year (APR 42.58%).
- So, your interest charged comes to £96.49.
Therefore, your total to repay comes to £596.49.
Small Loan FAQ's
Yes, you can! If you’re concerned about anything, speak to our friendly team.
If you’re currently on Child Benefit, you’re also eligible for our Family Loans: borrow up to £750, with no credit check and 24-hour top-ups.
No, our Small Loans are capped at £500. If you need to borrow a larger amount of money, take a look at our Personal Loans, which range up to £15,000.
Yes, we don’t charge for early repayments! Simply give our friendly Moneywise team a ring on 0330 165 5337 and explain that you would like to repay your Small Loan early and in full.
Simply apply to become a Moneywise member using our simple online portal now. Then, let us know you’re interested in taking out a Small Loan – our team will take care of the rest.
All you need to remember is to cover your monthly repayments. Enjoy getting the cash you need, quick.
Small Loans under £500 are exclusive to brand-new Moneywise members.
We don’t charge for missed repayments but, if you’re struggling to cover your monthly repayments, it’s important you speak to our team. We might be able to help adjust your terms to make your repayments more manageable.
You should always consider whether the no-credit-check loan is realistic for your financial situation. Can you afford to meet all your repayments on time? Do you know exactly how much you will need to pay in interest?
You should also balance your new Small Loan with any commitments you have with other lenders. Can you afford to cover all your repayments, including your current loans? Are there any other loan repayments you’ve forgotten about? These need to be factored in too!
The funds should hit your bank account within 72 hours of application approval