EXPERT RATED

Guarantee	Unsecured Loan
Age Eligibility	18 to 70
Income eligibility	£700.00 Per Month
Available to	New or Existing Customers
Credit score	Poor or Fair
Interest Rate	Fixed
Amount	£1,000 to £5,000
Payment Term	1 years to 3 years
Representative APR	49.9% p.a.

118 118 Money Personal Loan offers a straightforward way to borrow £1,000 to £5,000 with fixed monthly repayments. Designed for those who need a reliable loan with clear terms, it provides a quick application process and a decision in minutes.

Whether you’re covering an unexpected expense or planning a big purchase, this loan ensures predictable payments without any hidden surprises.

With fixed interest rates and transparent costs, 118 118 Money Personal Loan is all about financial clarity.

No confusing fine print or fluctuating rates—just a simple borrowing experience that helps you manage your finances efficiently. Want to see if it’s the right fit for you? Let’s dive into the details.

Why Choose 118 118 Money?

When looking for a personal loan, clarity and predictability matter. 118 118 Money Personal Loan is designed for those who prefer a straightforward borrowing experience with no hidden fees or unexpected surprises.

When looking for a personal loan, clarity and predictability are key factors. Nobody wants to deal with confusing terms, unexpected fees, or fluctuating interest rates that make budgeting a nightmare.

That’s where the 118 118 Money Personal Loan stands out—it’s designed to offer a straightforward borrowing experience that keeps things simple from start to finish.

With fixed interest rates and no hidden fees, you’ll know exactly how much you need to repay each month, making it easier to manage your finances without any unwelcome surprises.

Whether you need funds for an unexpected expense, home improvement, or consolidating existing debts, this loan provides a clear and structured repayment plan, so you can borrow with confidence.

Moreover, 118 118 Money considers applicants with less-than-perfect credit, making it a viable option for those who may struggle to get approval from high-street banks.

If you’re looking for a loan that prioritises transparency, reliability, and accessibility, this could be a solid choice—just be sure to weigh up the interest rates to ensure it fits your financial situation.

Key Features You Need to Know About 118 118 Money Personal Loan

When it comes to borrowing, simplicity, speed, and accessibility are crucial. Here’s why the 118 118 Money Personal Loan stands out:

✔️ Bad Credit? No Problem – Many lenders shut the door on those with a less-than-perfect credit history, but 118 118 Money takes a more flexible approach, giving more people access to the funds they need.

✔️ Fast Access to Funds – Need cash in a hurry? If approved, your money could be in your account within 15 minutes to two hours, making it ideal for urgent expenses.

✔️ Easy Loan Management – Stay on top of your repayments with the 118 118 Money mobile app, where you can track your balance, manage your loan, and avoid missing a payment.

A Few Things to Consider

While this loan offers speed and flexibility, there are a couple of potential downsides to keep in mind. Early repayments may still come with interest charges, meaning you won’t necessarily save money by paying off your loan ahead of schedule.

Additionally, joint applications aren’t an option, so if you were planning to apply with a partner or co-borrower, you’ll need to look elsewhere.

That said, if you need quick cash and have limited borrowing options, this could be a solid choice—but it’s always smart to compare interest rates and repayment terms to ensure it fits your financial situation.

Is This Personal Loan What You Need? Weigh Up the Pros and Cons

Pros:

✔️ Available to those with bad credit
✔️ Fixed monthly payments keep things predictable
✔️ Fast application and payout process

Cons:

❌ High APR at 49.9% – it’s not the cheapest option
❌ No joint applications allowed
❌ Early repayments may still come with interest charges

If you need cash fast and have limited options due to bad credit, this loan could work for you.

However, the high APR means you’ll be paying significantly more in interest, so be sure to compare before making a decision for the 118 118 Money Personal Loan.

You Qualify? Essential Criteria to Apply for 118 118 Money Personal Loan

Applying for a personal loan should be straightforward, but not everyone qualifies. If you’re considering a 118 118 Money Personal Loan, it’s important to know what’s required before you apply.

The good news? The eligibility criteria are clear and relatively accessible, even for those who may have been turned down by traditional high-street lenders.

Before applying, make sure you meet the following requirements:

✅ You must be at least 18 years old and a UK resident
✅ You need a regular source of income
✅ You must have a UK bank account for repayments
✅ Credit checks still apply, even though bad credit is considered
✅ No joint applications – this loan is for individuals only

Meeting these criteria doesn’t guarantee approval, but it does increase your chances. Always check the full terms before applying to avoid surprises.

Unlike some lenders, 118 118 Money does not accept joint applications—this loan is for individual applicants only. If you were planning to apply with a partner, you’ll need to look at alternative lenders that allow joint borrowing.

Additionally, while early repayments are allowed, interest may still apply even if you clear the loan before the full term ends. This is worth factoring into your decision, especially if you’re hoping to reduce costs by paying off the loan ahead of schedule.

Finally, Here’s How to Apply

Applying for a 118 118 Money Personal Loan is quick and straightforward, with everything done online in just a few steps. Here’s what to expect:

1️⃣ Complete the online application – Provide your personal details, income information, and bank account details.
2️⃣ Credit & affordability check – 118 118 Money will assess your financial situation to ensure the loan is affordable for you.
3️⃣ Get a decision – If approved, you’ll receive a loan offer outlining the terms, interest rate, and repayment schedule.
4️⃣ Accept & receive funds – Once you accept the terms, the money could be in your account within 15 minutes (though in some cases, it may take up to two hours).

There are no hidden fees, and the process is designed to be as hassle-free as possible. Just remember to double-check the terms before committing—borrowing is a responsibility, and it’s always best to ensure a loan fits your financial plan.

Not sold on 118 118 Money? Maybe 1plus1 Personal Loan is a better fit. It’s a guarantor loan, meaning you could get a lower rate if someone backs your application. If you’ve got a friend or family member willing to vouch for you, this could be a cheaper and more flexible option.

	118 118 Money Personal Loan	1plus1 Personal Loan
Credit Score	Poor or Fair	Poor or Fair
Representative APR	Representative example: Borrow £2,200.00 over 3 years at a rate of 49.9% p.a. (fixed). Representative APR 49.9% and total payable £3,864.60 in monthly repayments of £107.35	Representative example: Borrow £2,200.00 over 3 years at a rate of 39.9% p.a. (fixed). Representative APR 39.9% and total payable £3,539.88 in monthly repayments of £98.33
Loan Amount	£1,000 to £5,000	£1,000 to £5,000
Terms	1 years to 3 years	2 years to 5 years

👉 Check out our full 1plus1 Personal Loan review to see if it works for you.