Moneyway is a trading name of Secure Trust Bank, a UK-based retail bank. Moneyway is a financial provider for a range of purposes, from personal loans to motor, cycle and retail finance.
Moneyway’s unsecured personal loans can be used for whatever the borrower sees fit, from buying a car to making improvements on your home. The loan can also be used to effectively manage debt. For people that are struggling to keep up with repayments on high interest debts, consolidating the debt into one loan can be a useful way of minimising the repayment costs and making debt management simpler and easier. Borrowers can take out a personal loan from Moneyway to pay off their outstanding debts, leaving them with one monthly repayment to Moneyway that could have a lower interest rate than their previous debts.
Customers can access debt consolidation loans from £3,000 to £15,000 from Moneyway, in £50 multiples. This allows the flexibility to choose a loan amount that fits your needs, so you won’t have to take out more than the cost of your debt repayments, leading to further unnecessary debt. The loan can be repaid over a period of one to five years, through monthly direct debit orders. The interest on the loan varies from 7.5% Representative APR on loans between £7,001 and £15,000, up to 14.9% Representative APR on smaller loans. The interest rate will be personalised to each borrower to fit their financial circumstances and the amount being borrowed.
To qualify for a debt consolidation loan from Moneyway, applicants must be at least 25 years old and a UK resident. They also need to have an annual income of £15,000 or more. Customers can apply online to get a decision within minutes, and, if successful, should receive the funds in their bank account after 3-5 working days.
