Iceland’s curiosity‑free Meals Membership loans are again. Right here’s the best 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 sensible for household time, however a complete catastrophe for the meals price range.
Youngsters at house = cabinets emptied at report pace.
For those who’re already facet‑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 should utilize 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 possibility than slapping it on a payday mortgage, bank card or utilizing your overdraft.
What’s the deal?
The Meals Membership is precisely what it appears like: a solution 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 when you’re new and £100 when you’ve used it earlier than). If accepted, 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 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 exhausting, and missed funds imply charges and further 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
- Mounted repayments imply you may truly plan round it
So whereas borrowing for meals isn’t one thing we’d ever suggest as Plan A, when you’re in a rut, it is a safer Plan B.
The way to get it
Making use of is easy. Head to the Meals Membership web page and fill in a fast utility type (they’ll ask about earnings and outgoings to verify it’s reasonably priced).
For those who’re accepted, the cardboard’s often prepared inside a few days, and you should utilize it immediately in your meals store.
Already borrowed and repaid earlier than? You may often reapply when you’re clear.
The way to make it work tougher
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 prepare 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 is rarely excellent. 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 possibility.
There’s no curiosity, no sneaky fees 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 an even bigger monetary downside.
Learn subsequent:
The way to 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 dwelling on little or no and have become debt free by following her personal cash saving suggestions and methods. She is an professional on saving cash on the grocery store and facet hustles.