Iceland’s curiosity‑free Meals Membership loans are again. Right here’s the way to use them (with out getting burned) if the meals store is breaking your price range.
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The summer time holidays are good for household time, however a complete catastrophe for the meals price range.
Youngsters at house = cabinets emptied at report velocity.
Should you’re already aspect‑eyeing your grocery invoice, Iceland would possibly simply be your new finest mate.
They’ve introduced again their Meals Membership, a small, curiosity‑free mortgage you need to use to purchase your meals store and pay it again in weekly chunks.
It’s not magic and it’s nonetheless borrowing, however should you’re genuinely caught, it’s a far safer possibility 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 method to borrow a small quantity in your meals store with out being stung by sky‑excessive curiosity.
You may apply for as little as £25 (or as much as £75 should you’re new and £100 should you’ve used it earlier than). If accepted, the cash’s loaded straight onto a pre‑paid Iceland card you utilize 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 thought?
Truthfully? Sure – should 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 obtained 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 completely 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 possibly can really plan round it
So whereas borrowing for meals isn’t one thing we’d ever advocate as Plan A, should you’re in a rut, this can be a safer Plan B.
get it
Making use of is simple. Head to the Meals Membership web page and fill in a fast utility type (they’ll ask about earnings and outgoings to examine it’s inexpensive).
Should you’re accepted, the cardboard’s normally prepared inside a few days, and you need to use it right away in your meals store.
Already borrowed and repaid earlier than? You may normally reapply when you’re clear.
make it work tougher
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
- Top off 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
Closing phrase
Borrowing to purchase meals is rarely superb. However should 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 possibility.
There’s no curiosity, no sneaky prices and the repayments are straightforward to price range for.
It’s not a repair, nevertheless it may cease a brief‑time period wobble turning into a much bigger monetary drawback.
Learn subsequent:
get FREE meals and drinks – apps and different concepts
The place children eat free this summer time 2025
Naomi is aware of the burden of residing on little or no and have become debt free by following her personal cash saving ideas and methods. She is an professional on saving cash on the grocery store and aspect hustles.
