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118 118 loans

Thinking of taking out a 118 118 Money loan? Read our guide to find out what loans are available and how to apply for them.

Thinking of taking out a 118 118 Money loan? Read our guide to find out what loans are available and how to apply for them.

Who is 118 118 Money?

118 118 Money came about off the back of the famous directory enquiries advert of the early 2000s, featuring two runners with distinctive moustaches. The lending business was launched in 2013 to get people ‘financially fit’ and it has so far provided loans to more than 400,000 customers in the UK. 

118 118 Money offers quick and simple online personal loans and credit cards, including for those with poor credit histories who may otherwise find it difficult to borrow. It aspires to give people the tools and resources they need to build good financial habits.

Which is the best 118 118 Money loan for me?

The best 118 118 Money loan for you will depend on what you need the money for and how much you’re seeking to borrow. 

118 118 Money offers personal loans from £1,000 to £5,000, which you can choose to repay over a term of 12-60 months. 

Its loans are unsecured, so you won’t need to put up an asset or someone as a guarantor to act as security. They’re also fixed rate, which means your monthly repayments will remain the same throughout the term of your loan, unless you choose to overpay.

The representative APR for a 118 118 Money loan in March 2024 was 49.9%. However, the interest rate you’re offered will depend on your current financial situation, credit history and how much you want to borrow. If you have a good credit rating, you might find cheaper loans elsewhere as 118 118 Money charges a higher interest rate than most high-street lenders.  

A 118 118 personal loan can be used to pay for a range of things, including a new car, home improvements or emergency repairs. Another option is to combine existing debts into one convenient debt consolidation loan. Taking on any loan commitment requires serious consideration though.

Why choose 118 118 Money?

If you have a low credit score, you might still be able to get a 118 118 Money loan, although you might have to pay a high interest rate. But if you pay off what you owe on time each month, it’s a way to show you’re a responsible borrower and improve your credit score over time. 

You’ll usually get a quick response when you apply. The money could be in your bank account within a couple of hours – or even 15 minutes in some cases.

You can manage your loan account easily using the 118 118 Money mobile app. Through this, you can handle your direct debits, make payments and request an early settlement figure if you wish. There’s also an in-app chat function, which can be useful if you need to speak to the customer support team.


To be eligible for a 118 118 Money loan, you must:

  • Be between the ages of 18 and 70
  • Be a UK resident
  • Hold a current UK bank account and debit card
  • Be employed or self-employed
  • Earn at least £700 a month (after tax).

If you meet this criteria, 118 118 Money will then consider the overall state of your finances and credit history to decide whether to offer you a loan.

Are there any charges?

You’ll face a £12 charge for late or missed payments, but there are no fees for repaying your loan early or making extra payments. 

As with most loans, you’ll be charged interest, but the rate is fixed so you’ll know the total cost of borrowing from the start.

Why compare loans with Compare the Market?

Compare loan eligibility quickly

Check which loans you’re eligible for in under 4 minutes[1]

Find out what loans you could be eligible for

Without it impacting your credit score

See loans from a wide range of providers

We compare loans from 33 lenders[1]

[1] Correct as of December 2023.

Compare the Market Limited acts as a credit broker, not a lender. To apply you must be a UK resident and aged 18 or over. Credit is subject to status and eligibility.

How well is 118 118 Money reviewed on Trustpilot?

118 118 Money was rated 4.8 on Trustpilot in March 2024.

The score 4.8 corresponds with the star label ‘Excellent’.

See 118 118 Money’s current Trustpilot rating.

Frequently asked questions

How much can I borrow from 118 118 Money?

118 118 Money offers personal loans of between £1,000 and £5,000. The amount you’ll be able to borrow will depend on your loan requirements, income and credit history. 

You can use our loan calculator to get an idea of how much you could afford to borrow and how much it could cost you to repay each month.

Can I get a 118 118 Money loan with bad credit?

118 118 Money says it considers applications from people who may have had credit issues in the past. You may qualify for a bad credit loan if your credit file has a few blemishes on it. However, you’ll only be approved if the lender feels confident you can afford to repay the loan in full, after it’s assessed your income and overall financial health.

Unlike many other loan providers for people with low credit, 118 118 Money doesn’t require a guarantor or any security.

How to contact 118 118 Money

You can use the live chat function on 118 118 Money’s website to speak to a customer services agent via the 118 118 Money app.  

Alternatively, you can phone 118 118 Money on 02920 548 118. Lines are open Monday to Saturday 8am-7pm and bank holidays 9am-5pm but closed on Sundays.

How do I apply for a 118 118 Money loan?

You can apply online for a 118 118 Money loan. You’ll need to provide details of your employment history, monthly income and outgoings so the lender can carry out affordability checks. If you’re accepted, you’ll usually have the money in your account within 24 hours.

Before you make a full application, it’s worth checking whether you’re likely to be accepted using our loan eligibility checker. It uses a soft credit check to show you which loans you have the best chance of qualifying for, and won’t affect your credit score.

Can I pay off a 118 118 Money loan early?

You can make a partial or full repayment at any time. There’s no early repayment fee, but you will need to contact 118 118 Money to get an early settlement figure. This is the amount left to pay, including interest, and is valid for 28 days.