We can deposit up to £1000* if approved into your bank account today... Just apply online!
Maximum limit of £500 for new customers. All loans subject to creditworthlness and affordability checks
Welcome...

How much would you like to borrow?

Borrow  + Interest
Three monthly payments of
If aproved, total to repay

We don’t charge set up fees or faster payment fees"

Exact repayment amounts and interest may change slightly subject to your pay date. Exact figures are provided in your loan documentation once your payday information has been input.

Select Loan Amount
Select Pay Date
  • Specific Day
  • Four Weekly
  • First Working Day
  • Last Working Day
Click here
Monthly Repayments:

If you don’t repay on time you may incur extra costs:
Default Interest

0.8% per day on the outstanding principal if your loan is still in arrears at the contractual end date subject to the application of the rate cap.

Missed payment fee
£5 per instalment if still outstanding after 7 days (maximum £15)

For more information on the risks and benefits of an instalment payday loan from Redwallet, Click here.

Representative example;
If you borrowed £300.00 for 86 days you would repay £434.01 in total in 3 equal monthly payments of £144.67. Interest charge £134.01. Interest is 292% pa (fixed). Representative 1308.1% APR

Repayments are assumed at day 23, day 51 and day 86

Funds sent within 15 minutes of final approval** • No hidden extras • Safe, secure

  • Quick Decision
  • Fast Paperless Application
  • Not a Broker, a direct lender
  • UK based help and support
  • Must be over 18
  • Must be a UK resident
  • Must have a valid UK bank account and valid debit card
  • Must be employed

blog ...

  • Who are you really borrowing from? (23 Oct 2015, 02:44 PM)

    Savvy savers and borrowers will already know that there ... Read More

  • Applying for a Redwallet loan

    At Redwallet we want to make the process of applying for a loan as easy and straight forward as possible. To apply, complete the online application form including how much you want to borrow and when you get paid.  You will need to provide personal and employment details including how much you get paid (after deductions) and your monthly expenditure.  We will then carry out a credit and affordability check and you will receive an online decision*

    No need for lengthy calls or endless paperwork.

    You can decide how much you want to apply for by using our slider function; this calculates the amount you will have to repay, so there are no hidden costs. New applicants can apply for up to £500, existing customers who have demonstrated a good repayment record with us can apply to borrow up to £1,000. All loans are subject to status and an affordability assessment. If you are happy to proceed, select “Apply Now”.

    At this point we ask you to fill in the application form and you will need to have your bank details and debit card details handy. We will only use your debit card to collect the loan repayments and we need this information as part of your application - we never take an upfront fee! If your loan application is provisionally approved, you will be provided with pre-contractual information, which you should read and consider before proceeding.  This gives you important information about your proposed loan. You will then be provided with your loan agreement – please read this carefully and ensure you understand the terms and conditions.  If you have any questions about the pre-contractual information or the loan agreement, you can contact us during working hours.  If we need to check more details with you, we will communicate with you via email or attempt to call you during working hours.  We transfer the funds to your nominated bank account within 15 minutes** of final approval. In the event we are unable to offer you a loan (and you have provided your express consent), we may pass your details to our third party intermediaries who will try and source you an alternative lender, if you do not require this service we recommend you do not apply.

    It is important however that you make your repayments on the agreed dates as we want to keep your wallet out of the red. On the morning of your repayment dates, we will try to collect the amount due from your bank account using the debit card details supplied to us during the application process. This is an automatic process and we set out how it works in and how you can cancel this authority in the loan documentation provided. If the payment attempt is unsuccessful due to insufficient funds in your account, we will make 1 further attempt on the same day. If you are likely to experience any issues with repayment it is important to contact us as soon as possible.

    If payment has not been received on the agreed repayment date then a missed payment fee of £5 may be added to your account for each missed instalment, this may be applied after 7 days. In addition if your loan is still in arrears at the contractual end date and you do not communicate with us, default interest may be applied subject to the application of the rate cap. It is in both our interests that the loan is repaid. We will make every effort to contact you and talk through the issues, with the aim of helping you resolve your situation.

    You should also be aware that failing to repay on time may have a negative impact on your credit history as we provide payment performance information to credit reference agencies and other lenders may see this information.

    It is important that you assess your ability to repay the loan on the agreed dates. If you feel this is not going to be possible, we advise that you do not apply for a loan with us.  There may be other, more suitable forms of credit available to you that meet your needs at this time. As responsible lenders we feel it is important you go into the process with your eyes wide open.

*If we need to check more details with you, we will communicate our progress via email and
attempt to contact you during working hours. All loans are subject to creditworthiness and affordability.

**Funds are transmitted every 15 minutes between 08:00 and midnight 7 days a week!
If your bank does not support Faster Payments then funds may take up to 3 days to reach your account

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