Company Name: SafetyNetCredit
Trading name of: Indigo Michael Ltd
Registration Number: 07721420
Credit Licence Number: 646762
Representative APR: 68.7%
Maximum Loan Amount: £500
Loan Term: 1 to 40 days
Cost to Borrow £100 for 30 Days: £24
Representative Example: Amount of credit: £500. Interest rate: 0.8% per day for up to 40 days (292% per annum (variable)). Representative 68.7% APR (variable).
Hidden Fees: none (registration is free, no processing fees)
Promo Code: NO
Contact: customer.services@safetynetmail.co.uk / 0800 180 8400
Requirements to apply: you must be at least 18 years old, be a UK resident with a UK bank account, have an active debit card, a mobile number and an e-mail address. You also need to have a regular monthly income.
- About:
You can access their services via their website or their mobile app, available on the AppStore and GooglePlay
The company won the 2015 award for best 'Alternative lender of the year - Specialist consumer' and in 2016 the award for 'Treating Customers Fairly'
SafetyNetCredit is regulated by the FCA and committed to transparency and responsible lending.
You can borrow £1 to £500 as a first time borrower, for up to 40 days. Their fees are straight forward as they charge 80p per day per £100 you borrow.
For example, if you borrow £200, you will pay an interest of £11.20 per week. However, you will never repay more than £264 in total, no matter how long you borrow since the interest is capped at £64.00.
Reviews on TrustPilot are quite compelling with an average grade of 9.2 out of over 2,500 reviews published. Among this total, 81.2% graded the lender 5 stars.
You are eligible if you :
- Loan Amount and terms
You can borrow £1 to £500 as a first time borrower, for up to 40 days. Their fees are straight forward as they charge 80p per day per £100 you borrow.
For example, if you borrow £200, you will pay an interest of £11.20 per week. However, you will never repay more than £264 in total, no matter how long you borrow since the interest is capped at £64.00.
Reviews on TrustPilot are quite compelling with an average grade of 9.2 out of over 2,500 reviews published. Among this total, 81.2% graded the lender 5 stars.
- Application process and Eligibility
You are eligible if you :
- are UK resident
- are aged 18 or over
- are employed
- receive a salary or other regular income
- have a current account with internet banking
During the process, they will run a credit check and you will need to share your online banking login details.
Why do they need this information?
Why do they need this information?
- to ensure they lend according to your needs/what you can afford
- to help you avoid going into unauthorised overdraft: SafetyNetCredit will monitor your transaction and if your balance drops to a pre-agreed level, they will automatically fund your account so you avoid going into unauthorised overdraft.
- Repayment
- Automatic payment from your linked account
- Manual payment whenever you choose
You can choose to repay anytime for any amount from your SafetyNet dashboard on their website or mobile application.
Send your own review of SafetyNet Credit in the comments section below - Money management help
Besides the regular lending services, SafetyNetCredit offers some money management tools via their website and apps.
At any time you can login your account and see from your dashboard how much credit is available to you. You can also see how much you owe them.
Interactive graphs and personalised dashboards will help you track and analyse your spending habits and manage your budget more efficiently. All your spending is categorised and pie-charted so that you understand in a glimpse where you have been spending your money.
A convenient service that can avoid you unauthorised overdraft fees is the automatic top up that you can easily set with your account.
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