Flexible. Borrow £750 to £7,500. Repay over 1 to 5 years. Free early repayment with no penalty.
Simple. Quick to apply. 100% online. Immediate decision in most cases.
Honest. No traps in the small print. No excessive default charges. We'll tell you exactly what you're getting.Get a quote
We make it simple and straightforward to get a loan.
Before you apply make sure that you:
There are lots of different ways you can apply for a loan, depending on your needs an online service could be the simplest solution. With giffgaff money the process is all done online and you will get an instant decision with your money deposited in your account in less than 24 hours. Here is how the loan application process works:
You’ll get a personalised quote telling you exactly how much you can borrow and what it will cost you with no impact on your credit score.
If you're happy with your quote you'll just need to answer a few more questions to apply for your loan. These questions include financial information such as your income and employment status.
Most of the time you’ll get an immediate answer, but sometimes it takes a little longer (up to 24 hours) so bear with us. During this time the lovely folks from RateSetter’s credit team may contact you to confirm some of your details.
Once your loan has been approved make sure you check all the details before you click confirm. If you change your mind don't worry, you should have 14 days to cancel your loan.
Your money will often be in your account within 24 hours if your bank supports fast payments.
RateSetter is the UK’s leading peer-to-peer lending platform. The very knowledgeable chaps on the RateSetter team do a sterling job matching borrowers and lenders.
RateSetter have already matched a whopping £1.4 billion of funds between lenders and borrowers in 5 years. Impressive stuff.
Since RateSetter launched in 2010 they have maintained a 100% track record of not losing a single penny of their lenders' money.
We've been working together with RateSetter for over 2 years already.
Loan speak can all get a bit confusing, with all those percentages, decimal points and long lists of numbers. so here's our guide to APRs (Annual Percentage Rates).
A 'representative APR' is the rate that all credit card and loan companies use to allow you to compare different loans. So it's basically the average loan rate that they offer to 51% of successful applicants, meaning 49% of successful applicants may well get offered a different rate for their loan.
At giffgaff money we want to make it simple. We want you to know exactly what you'll be getting. So, when you apply you'll get a quote that’s personalised to your application clearly showing your loan amount and the APR that will apply to you. To do this RateSetter do what’s called a ‘soft credit search’, which means they check some of your credit details but without impacting your credit score.
Just for the record, our current representative APR is 15.5%
Representative example for a loan of £4,000 for 24 months at an interest rate of 15.5%. In this example the total amount payable (including interest and fees) would be £4633.57 and your monthly repayments would be £193.07