You should always refer to your loan agreement for exact repayment amounts
as they may vary from our results.
Read more about How Our
Comparisons Work
The Money Platform
Calculate Your Loan Cost:
Choose the loan type you require then adjust the sliders to calculate the cost of your loan.
Representative Example
Representative Example: Borrow: £500 for 6 weeks. Interest rate: 255.5%. Total repayment of:£647. Representative: 839.20% APRIMPORTANT INFORMATION:
Lender Overview
The Money Platform
The Money Platform are a unique peer to peer lender and the first of their kind to appear on allthelenders. You can borrow £250, £500, £750 or £1000 for 3, 4, 6, 8 or 12 weeks and you repay the amount borrowed plus the interest in one payment on your scheduled due date. 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. Your 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. If you already have outstanding loans with other short term lenders or you are under 20 years of age you will not be eligible to borrow from The Money Platform.When can I get my loan?
If you agree terms on a loan before 3pm on a weekday the funds will usually be in your account within a few hours. If you agree terms after 3pm (Monday to Thursday) the loan will likely be funded the next business day. If you agree terms after 3pm on a Friday you may not receive the loan until Monday.
How do I repay my loan?
The Money Platform will collect the amount due from your debit card on the agreed repayment date. Early repayment options are available with this lender.
What happens if I can't pay my loan on time?
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.
Am I eligible for a The Money Platform loan?
- Do NOT apply if you have CCJs
- Do NOT apply if you are under an IVA or Bankruptcy
- Do NOT apply if you have Credit Cards currently in arrears
- Do NOT apply if you have a mobile phone bill currently in arrears
- Do NOT apply if you have Car finance currently in arrears
- Do NOT apply if you have defaulted or been late on a pay day loan in the last 12 months
How is this lender regulated?
- The Money Platform are authorised and regulated by the Financial Conduct Authority
WARNING:
Late repayment can cause you serious money problems. For help, go to The Money Advice
Service