Iceland’s curiosity‑free Meals Membership loans are again. Right here’s find out how to use them (with out getting burned) if the meals store is breaking your funds.
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The summer season holidays are good for household time, however a complete catastrophe for the meals funds.
Youngsters at house = cabinets emptied at file velocity.
Should you’re already facet‑eyeing your grocery invoice, Iceland would possibly simply be your new greatest 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 for those who’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 strictly what it feels like: a option to borrow a small quantity on your meals store with out being stung by sky‑excessive curiosity.
You’ll be able to apply for as little as £25 (or as much as £75 for those who’re new and £100 for those who’ve used it earlier than). If authorized, 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 per week.
That’s it. No hidden charges, no “shock” curiosity.
However isn’t borrowing for meals a nasty concept?
Truthfully? Sure – for those who 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 children, 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 chew again arduous, and missed funds imply charges and additional curiosity you possibly can’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
- Mounted repayments imply you possibly can really plan round it
So whereas borrowing for meals isn’t one thing we’d ever advocate as Plan A, for those who’re in a rut, this can be a safer Plan B.
How you can get it
Making use of is easy. Head to the Meals Membership web page and fill in a fast utility kind (they’ll ask about earnings and outgoings to test it’s inexpensive).
Should you’re authorized, the cardboard’s often prepared inside a few days, and you should use it immediately on your meals store.
Already borrowed and repaid earlier than? You’ll be able to often reapply when you’re clear.
How you can make it work more durable
Should you’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
- Refill on worth staples like pasta, beans and frozen veg
- Borrow solely what you recognize you possibly can pay again – the very last thing you need is to swap meals stress for debt stress
Ultimate phrase
Borrowing to purchase meals is rarely very best. However for those who’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 fees and the repayments are simple to funds for.
It’s not a repair, however it might cease a brief‑time period wobble turning into an even bigger monetary downside.
Learn subsequent:
How you can get FREE meals and drinks – apps and different concepts
The place children 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.
