Our calculator lets you pick how much you want to borrow, over a timeframe that suits you, to estimate how much you would pay back each month and overall. We base our calculations on 118 118 Money’s representative APR, but it’s important to note that credit is subject to status and your circumstances may affect the rate you are offered.
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyPlease note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.
Late repayments can cause you serious money problems. See our debt help guides.
Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much the loan you have in mind costs with a range of lenders.
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
Read the full methodologyBest for: Short terms
49.9% APR representative (Fixed)
Maximum loan
£5,000
Product fee
N/A
Early redemption fee
Yes
The 118 118 Money Personal Loan charges 49.9% APR representative on loans between £1,000 and £5,000. 118 118 Money offers the loan with repayment terms between 1 and 3 years, and applicants can apply to borrow from £1,000 to £5,000.
118 118 is a well-known directory enquiries provider. It has always branched out into a broad range of sectors, so it’s no surprise that its “Money” department offers personal loans.
118 118 Money focuses on small loans over short terms – offering loans between £1,000 and £5,000 over 1 to 3 years with monthly repayments made over 12, 18 or 24 months. You can apply online, and it provides a 24/7 helpline if you have any problems during your application.
Personal loans can be used for most things, but while other providers may limit the reasons they accept an application, 118 118 Money allows you to use the loan however you wish.
118 118 Money is not a payday lender. It offers instalment loans with a minimum term of 12 months.
118 118 Money offers personal, unsecured loans from £1,000 to £5,000. Unsecured loans are not secured against your assets, for example, your home. It offers repayment periods of either 12, 18 or 24 months.
You can use their personal loan calculator to see how much your monthly repayments might be, which will help you to determine the affordability. Their offer will be valid for 5 days, so you can take your time to decide whether you wish to accept it.
| Loan amounts | From £1,000 to £5,000 |
|---|---|
| Loan terms | From 1 year to 3 years |
| Age eligibility | 18 years and over |
| Application fee | No application fee |
| Repayment holiday | Repayment holiday not permitted |
If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example, an arrangement fee) over the duration of a loan.
All lenders must calculate the APR of their products in the same way and must tell you the APR before you sign an agreement. So, for consumers, it can be a handy tool for comparison.
Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan. The other 49% could pay more. That’s why it’s often referred to as the representative APR.
You should only apply for a 118 118 Money personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:
118 118 Money typically offers loans to applicants with fair or poor credit ratings (if you have good credit, you may be able to get better rates elsewhere). It's important to note that your credit record is just one factor that 118 118 Money considers, however.
A "Fair" or "Poor" (or "Very poor") credit rating means a score below 881 if you're referring to Experian's scale, 531 if you're referring to Equifax's scale and 604 if you're referring to TransUnion's scale.
No. Currently, decisions aren't instant. However, you can use the soft-search eligibility checker to instantly find out your chances of getting approved. (This won't affect your credit score.)
118 118 Money doesn't allow you to run multiple loans at the same time.
Yes, you can make overpayments without incurring any penalty fee. However, 118 118 Money can continue to charge interest for up to 2 months on any sums overpaid. So, although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.
First, you can use this eligibility checker to find out if you'd be likely to get approved for a 118 118 Money loan . This won't impact your credit score.
If you’ve decided that a 118 118 Money personal loan is for you, make sure you have the following information handy for your application:
118 118 Money currently doesn’t offer instant decisions on loan applications but will notify you as soon as your application has been processed. Once you’ve completed your application, 118 118 Money aims to deposit your loan money within 24 hours of your approval.
In our independent 2024 customer satisfaction survey, 79% of 118 118 Money’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s simple application process and good customer service. However, some cited high interest rates. Here’s what some of those 118 118 Money customers had to say:
“Customer services were great and my loan was approved fast”
“The monthly repayments are very manageable and if I ever have trouble paying all I have to do is get in touch with them”
“Although the fees are quite high, they they did accept my loan application when most other providers wouldn’t.”
You can call customer support on 02920 548 118. You can also talk to live chat agents on 118 118 Money app for general queries.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
The results of the Finder Customer Satisfaction Awards 2025 are in, and the winner of the personal loans category has been decided.
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