Think Money Flexi Loan
Will lend between: £500 - £1,500
Over: 6 - 12 Months
Think Money Flexi Loan customer reviews.
3.3 out of 5 stars
The perfect account for people who aren't so great at money management, or for those who have bills coming out on different days of the month.
Great account if you’re bad at budgeting, the monthly cost is a little high but cheaper than going overdrawn!
Considering this bank control my money going on and out - you'd think a personal loan from them when they can set the payment to their self every month on time would be ideal? No. I got one with another bank. A fee for what? Not a clue.
so far i'm £170 out of pocket, because money disappears from my account, rang thinkmoney and no help whatsoever, my advice is stear well clear from them
I've been with this bank for just under 5 years now and although I don't like paying a monthly fee, it's an excellent way to manage my money. I know bills will be paid and if there is ever a problem I can ring up and they will try to help
This bank has really helped me get my finances under control and for me it is really helpful in this area. The service is easy to use however it needs to keep up with the tines and latest banking advances. The introduction of faster banking, contactless cards and more focus on speeding up call waiting times would really improve the overall service
Our review of Think Money Flexi Loan
Think Money is a lender based in Manchester who created the Think Money managed current accounts as well as offering loans. The account was created to help users manage their finances and over 10 years, has hit 100,000 account holders.
Once you've opened an account, you can apply for a loan from £300 to £1,500 for 6 to 12 months. You can pay this back in monthly instalments and the people at Think Money will help you budget for this. You'll have access to UK-based money managers, helping you to keep on top of your outgoings to help improve your credit score.
However, the current account does charge £17.50 for single use and £24.50 for joint bank accounts per month, which can be fairly pricey but they could even accept customers that have missed repayments or have a CCJ or defaults on their credit file. The Flexi Loan comes with a representative APR of 140% which can be quite high but if you're being declined from other banks, this could be your only option.
The usual warnings for loans apply and they should only be used in emergencies. If you're unsure you'll be able to make the monthly repayments then you may want to consider other alternatives.
Overall verdict: If you struggle with managing your finances and want help with managing your money, then Think Money could be for you. However, there are loans and current accounts out there that at a much cheaper rate so make sure you compare your options.
- Competitive rates
- As you will have to have a current account with Think Money they will fairly assess your borrowing capacity
- You must have a Think Money current account for at least 3 months
- You must be aged 18 years or older
- You must be a UK resident
- Maximum APR 140%
- Arrangement fee: £0
- Early repayment fee: £0
- Late payment fee: £0
Think Money Flexi Loan Customer Question & Answers
About Think Money Flexi Loan
Think Money Flexi Loans are an unsecured loan option for loan amounts of £300 to £1,500 over periods of 6-12 months for Think Money Current Account holders. You must have had a Think Money Current Account for 3 months and paid in your income to be eligible to apply for the loan.
Registration number: 05530040
Think Park Mosley Road Trafford Park Manchester M17 1FQ
Reference No: 685963
Trading names: Think Money (UK) Ltd
Place of business: Think Park Mosley Road Trafford Park Manchester M17 1FQ
Data protection registration
Registration No: Z9722822
Data controller: Think Money Limited
Address: Think Park Mosley Road Trafford Park Manchester M17 1FQApply Now