Salad Money

Who can apply for a loan with Salad Money?

You’ll need to ensure that you meet Salad Money’s eligibility criteria.
You must:

Could I get a Salad Money loan with bad credit?

It might be possible for you to be approved for a loan with Salad Money even if your credit score is looking a little worse-for-wear, although you should bear in mind that if you are approved, a bad credit loan may come with a higher rate of interest.

Salad Money uses Open Banking as part of their process, which provides a deeper insight into your recent financial situation.

What is Open Banking and is it safe?

Open Banking allows an authorised business - for example, a lender or credit provider - to access your financial data through your online bank account. This will enable them to assess your spending and repayment habits, which in turn will aid their decision whether to approve your application.

It’s a little like giving someone a copy of your bank statement, except you don’t need to print anything out or scan through multiple documents to find what you’re looking for.

Open Banking provides the lender with a read-only view of your information and, as such, a business cannot take money from your account, make any changes, or access your PIN and password(s). Only regulated companies can use Open Banking, meaning your data is safe and secure.

You’re in complete control: only you can decide who has access to your information and you can withdraw your consent at any time.

How much money can I apply to borrow with Salad Money?

Salad Money offer loans between £500 and £1,200.

What sort of repayment terms do Salad Money offer?

With Salad Money, you have the option of repaying loans between £500 and £1,000 across either 12 or 18 months. £1,200 loans come with a set repayment term of 18 months.

What Annual Percentage Rate (APR) do Salad Money advertise?

Salad Money advertise a fixed APR of 79.5%.
Salad Money’s representative example is subject to change on a daily basis. To view the most up-to-date rep example, Salad Money suggest checking their website on the date of your application.

How quickly will I receive my money?

If approved for a loan with Salad Money, your funds could be sent the same day. Salad Money make payouts throughout the day and funds are usually sent within 3 hours of you signing and returning your credit agreement.

Remember, the time it takes for the money to become available in your account will depend on your bank’s policies and procedures.

Are there any fees for making overpayments or paying my Salad Money loan early?

No, Salad Money will not charge you any fees if you’d like to repay your loan early or make an overpayment.

I’m struggling to repay my Salad Money loan; what can I do?

Salad Money states that they will do everything they can to help those struggling with their repayments and urge customers to contact them to discuss suitable options.
Depending on your circumstances, Salad Money might be able to ease the pressure by offering help, such as a repayment holiday or partial repayments.
Please note that any decision will be made at the lender’s discretion.

If you’re worried about money, the following charities and organisations offer free, confidential advice: StepChange, MoneyHelper, Citizens Advice, and National Debtline.

I searched for a loan with CashLady and was matched with Salad Money. Who should I contact if I have a question?

If your query relates to the loan search carried out on cashlady.com, you’re welcome to contact us; however, you’ll need to reach out to Salad Money directly if you have any questions about the loan you’ve been matched with.

What’s the best way to contact Salad Money?

You can find out more about Salad Money, including the various ways to contact them, on their website. We’ve also included a list of contact methods below, which we hope you’ll find useful.

The Salad Money team are available from Monday to Friday, between the hours of 9am and 6pm, excluding Bank Holidays.

Information is correct as of October 2024.
The information contained in this article is not intended to constitute nor should be taken as advice.