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What is 118 118 Money?
Established in 2013, 118 118 Money is a direct lender known for its distinctive marketing campaigns featuring two men in running attire.
Initially providing short-term personal loans, the company has expanded its financial products to include credit cards, aiming to assist customers in managing their financial needs.
What types of loans do 118 118 Money offer?
118 118 Money provides unsecured personal loans that can be used for various purposes, including:
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Home improvements
Financing renovations or upgrades to your property
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Unexpected expenses
Covering unforeseen costs such as car repairs or medical bills
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Bad credit loans
You might be able to get a loan with 118 118 even if you have a poor credit rating. Its eligibility checker will assess your chances of approval
How much can I borrow with 118 118 Money?
You can borrow between £1,000 and £5,000, with repayment terms ranging from 12 to 36 months. The specific loan amount and term offered depend on your credit history and personal circumstances.
Key features of a 118 118 Money loan
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Fixed interest rates
You’ll have the certainty of consistent monthly payments throughout the loan term
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No guarantor required
Apply without the need for a third party to co-sign your loan
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Quick access to funds
Once approved, funds are typically transferred to your account within 15 minutes to two hours
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Eligibility checker
Assess your likelihood of approval without impacting your credit score
How to apply for a loan with 118 118 Money?
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Check your eligibility
Use the online eligibility checker to see if you qualify. It won’t affect your credit score
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Choose loan amount and term
Select how much you wish to borrow and your preferred repayment period
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Complete the application
Provide personal, financial, and employment details through the online form
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Credit and affordability check
118 118 Money will assess your application based on creditworthiness and affordability
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Receive a decision
If approved, you'll receive a loan offer to review and accept
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Receive funds
After acceptance, funds are typically transferred to your account within 15 minutes to two hours
Trusted Service Awards Winners
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
Frequently asked questions
Is 118 118 Money a payday lender?
No, 118 118 Money is not a payday lender. It offers unsecured personal loans with repayment terms spanning 12 to 36 months, providing more manageable repayment schedules compared to traditional payday loans.
Is 118 118 Money a direct lender or a broker?
118 118 Money is a direct lender, meaning it provides loans directly to consumers, rather than acting as an intermediary or broker. It assesses and approves loan applications itself, offering unsecured personal loans.
Can I take out more than one loan with 118 118 Money at the same time?
No, 118 118 Money typically does not allow customers to have multiple loans at once. If you have an existing loan, you would need to repay it before applying for another loan with them.
Can I apply for a 118 118 Money loan if I am self-employed?
Yes, you can apply for a 118 118 Money loan if you're self-employed. However, you'll need to provide proof of income, such as bank statements or tax returns, to demonstrate your ability to repay the loan.
Do I need a guarantor for a loan with 118 118 Money?
No, 118 118 Money does not require a guarantor for personal loans. They offer unsecured loans, meaning you do not need to provide collateral or a guarantor to be considered for a loan.
What are the eligibility criteria?
To qualify for a loan with 118 118 Money, you must:
Be a UK resident aged 18 or over
Have a valid UK bank account and debit card
Demonstrate a regular income
Approval is subject to status, affordability, and credit checks.
Is 118 118 Money regulated and trustworthy?
Yes, 118 118 Money is authorised and regulated by the Financial Conduct Authority (FCA), ensuring compliance with UK financial regulations.
Are there any fees with a 118 118 Money loan?
While there are no arrangement or setup fees, it's important to be aware of potential charges:
Missed payment fee: A £12 charge applies for missed or late repayments
Early repayment: Repaying your loan early may incur additional fees, but it will depend on the terms of the deal
How to compare loans with MoneySuperMarket
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Reviewed on 8 Dec 2025
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