Oink Money short term loans review April 2020

Borrow £100 to £3,000 through Oink Money and repay over 3-12 months.

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Oink Money

Oink Money is an “introducer” for Monevo Ltd. This means Oink Money does not lend money itself, but instead refers borrowers to Monevo.

Monevo uses specialist software to search its panel of short-term loan providers, to match borrowers to a lender. While this means you could find a willing lender and get accurate quotes quickly, it’s important to check which lender you end up using, and what its terms and conditions are. It’s also important to bear in mind that there may be cheaper loans to be found outside of this panel of lenders.

Oink Money can also match borrowers with lenders offering guarantor loans, personal loans and car loans.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

How do Oink Money loans hold up against the competition?

Table: promoted deals, sorted by total payable
If you’ve been on the Oink Money site and have estimated the cost of a loan, you’re probably going to want to shop around to see if you’re getting a good deal. You can use the table below to estimate the cost of the loan that you have in mind. We compare loans from a range of popular short-term lenders. Remember that each lender sets its own min/max loan amounts and terms, and its own eligibility requirements.

How much money do you need to borrow?


How long do you need to borrow over?


Name Product Available amounts Monthly repayment Total payable
Lending Stream Instalment Loan
£50 to £1,500
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
Savvy.co.uk Personal Loan
£300 to £3,000
Representative example: Borrow £1,000 for 12 months at a rate of 152.33% p.a. (fixed). Representative 352.7% APR and total payable £1,999.92 in 12 monthly payments of £166.66.
Sunny Loan
£100 to £2,500
Representative example: Borrow £100 for 8 months at a rate of 204% p.a. (fixed). Representative APR 568% and total payable £199.33 in 8 monthly payments of £19.93. You can repay this loan early.
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Compare up to 4 providers

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Key features of Oink Money loans

Product NameOink Money Short Term Loan
Available amounts£100 to £3,000
New customer maximum£3,000
Loan terms3 months to 12 months
Maximum APR1,576%
Soft search eligibility check
Funding speedApplications made before 3pm on weekdays may be paid into a bank account on the same working day. Applications sent and accepted after 3pm or at weekends will typically receive the funds on the next working day.
FCA registration number790894
More Info

How does an Oink Money loan work?

  1. First you’ll need to fill out the online application form which should take you less than 15 minutes. You will need to provide personal details as well as information about your income and outgoings.
  2. As long as your details have been entered correctly, the Monevo software will almost instantly match your information with the requirements of its panel of lenders.
  3. Once you’ve been accepted by one of the providers you’ll be taken to the loan agreement page. If you agree with the offer, the money will be transferred to your account via electronic bank transfer. The time taken to receive the money varies between lenders but is usually very quick.
  4. If the application is received after 3pm, the loan will be funded the following working day.
  5. For some applications where further information or a co-signature is required, the process can take longer – typically between 1-3 working days. Please check your agreement for exact timescales or confirm with the lender before accepting the agreement.

How do I pay back my loan?

The lender that you get matched to may offer you a number of repayment options, including a direct debit or standing order from your bank account. It’s more likely, however, that the lender will use a Continuous Payment Authority (CPA) to collect the repayments from your bank account on specified dates.

What is a Continuous Payment Authority (CPA)?

With a CPA you give a company permission to withdraw money from your account on a regular basis.

CPAs differ from a direct debit because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most payday/short-term lenders will use a CPA to collect your repayments. You can cancel this at any point by either consulting with your loan provider or your bank.

What are the eligibility requirements?

You should only apply for a loan through Oink Money if you are certain you can meet the repayment terms. You must also:

ResidencyUK resident
Minimum age18
Additional eligibility notesYou must receive an income.
You must have a valid UK bank account with a debit card.

Please note that some of the lenders may have additional eligibility criteria.

Did you know?

In 2015 the Financial Conduct authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.

They additionally capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.

Is high-cost, short-term borrowing a good idea?

Short-term loans offer a quick solution when you get into difficulty with your finances, but they are a very expensive method of borrowing. They should therefore only be considered as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and are not a good idea for borrowing over longer periods, or for sustained borrowing.

Before you apply for a short-term loan, make sure you have considered other options carefully. Is the expenditure that you’re planning absolutely essential? If you can defer a purchase then you could save yourself money in the long run. If you are struggling to pay a bill, then try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan. Read more about alternatives to payday loans at moneyadviceservice.org.uk.

Frequently asked questions

We compare payday/short-term loans from

Lending Stream Instalment Loan
Savvy.co.uk Personal Loan
Sunny Loan

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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