Iceland’s curiosity‑free Meals Membership loans are again. Right here’s easy methods to use them (with out getting burned) if the meals store is breaking your price range.
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The summer season holidays are good for household time, however a complete catastrophe for the meals price range.
Children at house = cabinets emptied at file velocity.
For those who’re already facet‑eyeing your grocery invoice, Iceland may simply be your new finest mate.
They’ve introduced again their Meals Membership, a small, curiosity‑free mortgage you should use to purchase your meals store and pay it again in weekly chunks.
It’s not magic and it’s nonetheless borrowing, however when you’re genuinely caught, it’s a far safer choice than slapping it on a payday mortgage, bank card or utilizing your overdraft.
What’s the deal?
The Meals Membership is precisely what it seems like: a method to borrow a small quantity on your meals store with out being stung by sky‑excessive curiosity.
You may apply for as little as £25 (or as much as £75 when you’re new and £100 when you’ve used it earlier than). If permitted, the cash’s loaded straight onto a pre‑paid Iceland card you employ like money in‑retailer or on-line.
Repayments are set at round £10 every week.
That’s it. No hidden charges, no “shock” curiosity.
However isn’t borrowing for meals a foul concept?
Truthfully? Sure – when you can keep away from borrowing for meals, keep away from it. You’ll be paying again meals lengthy after you’ve eaten them. However we get it.
When the fridge is empty and also you’ve acquired hungry youngsters, it’s tempting to chuck the store on a bank card, Purchase Now Pay Later and even dip into an overdraft.
The issue is that these choices can chunk again exhausting, and missed funds imply charges and additional curiosity you may’t afford.
The Meals Membership’s totally different:
- It’s run by Honest For You, a not‑for‑revenue lender
- You solely ever pay again what you borrowed
- Fastened repayments imply you may truly plan round it
So whereas borrowing for meals isn’t one thing we’d ever advocate as Plan A, when you’re in a rut, this can be a safer Plan B.
Find out how to get it
Making use of is easy. Head to the Meals Membership web page and fill in a fast software kind (they’ll ask about earnings and outgoings to verify it’s inexpensive).
For those who’re permitted, the cardboard’s normally prepared inside a few days, and you should use it right away on your meals store.
Already borrowed and repaid earlier than? You may normally reapply when you’re clear.
Find out how to make it work more durable
For those who’re fortunate sufficient to be accepted, make the cash stretch:
- Write a meal plan earlier than you store – no impulse aisle‑wandering
- Bulk purchase the three‑for‑£10 freezer offers and cook dinner in batches
- Fill up on worth staples like pasta, beans and frozen veg
- Borrow solely what you understand you may pay again – the very last thing you need is to swap meals stress for debt stress
Remaining phrase
Borrowing to purchase meals isn’t superb. However when you’re in a decent spot and the choice is racking up Klarna debt or a bank card you’ll wrestle to clear, Iceland’s Meals Membership is the higher choice.
There’s no curiosity, no sneaky costs and the repayments are straightforward to price range for.
It’s not a repair, however it may cease a brief‑time period wobble turning into a much bigger monetary downside.
Learn subsequent:
Find out how to get FREE meals and drinks – apps and different concepts
The place youngsters eat free this summer season 2025
Naomi is aware of the burden of dwelling on little or no and have become debt free by following her personal cash saving suggestions and tips. She is an knowledgeable on saving cash on the grocery store and facet hustles.