Loan Charges

When considering taking a loan from The Money Shop, it is important to keep in mind that short-term loans should not be used as a long-term financial solution.

When taking a loan with The Money Shop we will make it clear:

  • how much you are borrowing
  • how long you are borrowing for
  • how much your monthly repayment(s) will be
  • how much you have to pay back in total
  • that we don't charge any fees. No arrangement fee, no missed fees, no late repayment fees and no early repayment fees.

What do we offer?

We offer short-term loans in-store starting at £50 up to £2,000** which are repayable over 1 to 6 instalments.

  • Daily rates range from 0.66% to 0.80% (dependent upon term length), which means you will pay between 66p to 80p per day per £100 borrowed.

You can always repay a loan early – meaning you only pay interest for the time you borrow, which reduces the total cost of the loan.

Representative Example: £300 borrowed for 3 months. Annual interest rate of 292% (fixed). Total amount repayable is £490.85 in 3 monthly instalments of £163.62. Representative 1150% APR.

What will I have to pay back?

You will have to pay back the original loan amount borrowed plus the interest.

Borrowing over a longer term helps to keep the monthly repayments affordable however the total amount to repay increases the longer you borrow the money for.

The staff member in-store will make it clear how much you have to pay back in total and how much your monthly repayment(s) will be before you complete your loan agreement.

What if I can't make a payment?

If you're struggling with repayments then the most important thing to do is to let us know, you can contact us on 0800 316 1414* and we will do our best to help. You can also go into store for support.

A missed or late payment may have a negative effect on your credit rating. If you are experiencing financial difficulty please click here to find information on non-fee charging agencies that provide independent advice.