118 118 Money Personal Loans

118 118 Money know that life can be unpredictable and surprising, but borrowing shouldn’t be. Their products are designed to be as simple and as straightforward to use as possible, helping you to get borrowing right. Their personal loans are no exception. They offer personal loans with real rates to make everything as clear as possible for you.

Use the Aro smart search to find out if you’re eligible with 118 118 Money, plus over 50 other UK lenders, now.

  • Personal loans from £1,000 to £5,000
  • Terms from 12 months to 5 years

118 118 Money Personal Loans
Loan typeUnsecured personal loan  
Rates displayedReal  
Loan amounts available£1,000 – £5,000  
Loan terms available12 – 60 months (5 Years)  
Age eligibility requirementsMinimum 18 years old, maximum 70 years old  
Access for lower credit scoresSome chance of approval IVA, CCJ or bankruptcy may impact eligibility  
Chance of acceptance availableYes  
Loan pay out time after approval1 hour  
Early repayment optionsYes, with potential fees  
Online applicationYes  
Whilst we always try to be accurate in the rates, amounts and benefits offered by lenders, these are controlled by the lenders and not Aro. As such, they are subject to change and final decisions may differ slightly from the information below. Acceptance is subject to final checks and is not guaranteed.

Who is 118 118 Money?

118 118 Money offers a range of financial services to customers, with a customer-focused approach that shows their commitment to providing the right financial options to those who need them. They offer loans and credit cards with a wide variety of amounts and payment plans.

How much can I borrow with a 118 118 Money personal loan?

Loan amounts that you are eligible for may change depending on your credit history and personal circumstances. The amounts available on 118 118 Money loans ranges from £1,000 up to £5,000, with repayment schedules starting at 12 months and going up to 5 years.

What interest rates can I get for a 118 118 Money loan?

Interest rates on personal loans will be different from one person to the next, as they are usually determined by lenders looking at your financial situation and your credit score. 118 118 Money is the same, so their interest rates on loans will vary. If you have a higher credit score you may find the APR on a loan offered to you is a bit lower. This is due to the lender being more confident in their decision to lend money to you, and your monthly repayments may be lower.

However if you have a lower credit score, or have had difficulty with credit repayments before, this may mean rates are higher for you. Seeing if you can make any changes that raise your credit score may be worthwhile – check out our handy guide for improving your credit score for some common ways to do this.

What can I use a 118 118 Money personal loan for?

Personal loans are there for any unexpected expense that you may have in life, so there aren’t too many restrictions on what they can be used for. Generally, people use them for large luxury purchases (such as a new car or a wedding) or to fund home renovation projects, though some people may elect to use loans for debt consolidation.

Am I eligible for a 118 118 Money personal loan?

When looking at loans from any company, 118 118 Money included, your credit score and personal circumstances will be used to assess how risky it is to lend money to you. Your eligibility for loans – and which options – will change based on their decision. You will also need to meet their eligibility criteria for personal loans:

  • Aged between 18 and 70
  • Reside in the UK
  • Hold a UK bank account and debit card
  • Have a monthly income of at least £700
  • Be in employment or be self employed

How quickly will a 118 118 Money personal loan be paid out?

118 118 Money aim to pay all personal loan out within one hour. There is much less paperwork on a personal loan so you won’t be waiting as long to get the funds that you need.

Can I pay off my loan early?

Yes, there are options for making extra repayments or settling the full balance at any point. Whilst there may be fees to do so depending on which option you choose, it may still be more cost effective due to saving money on interest.

What should I consider before taking out a 118 118 personal loan?

As with any type of borrowing, you need to be confident that you can afford to make any repayments throughout the lifetime of the loan. If you struggle to keep up with repayments, it will impact your credit score.

You may also need to:

  • Provide proof of your address history
  • Verify your bank details
  • Provide proof of identity

How can I check my eligibility for a 118 118 personal loan?

At Aro, we can help check your eligibility for a personal loan with 118 118 Money, as well as checking against our panel of over 50 UK lenders, all without harming your credit score. Fill in your details and we can show you your potential options in minutes.

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