Iceland’s curiosity‑free Meals Membership loans are again. Right here’s how you can use them (with out getting burned) if the meals store is breaking your price range.
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The summer season holidays are sensible for household time, however a complete catastrophe for the meals price range.
Children at residence = cabinets emptied at file velocity.
For those who’re already aspect‑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 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 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 appears like: a approach 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 authorised, 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 foul concept?
Actually? 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 received 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 chew again exhausting, and missed funds imply charges and further curiosity you possibly can’t afford.
The Meals Membership’s completely different:
- It’s run by Truthful For You, a not‑for‑revenue lender
- You solely ever pay again what you borrowed
- Fastened repayments imply you possibly can 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.
Learn how to 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 revenue and outgoings to examine it’s inexpensive).
For those who’re authorised, 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.
Learn 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
- Top off on worth staples like pasta, beans and frozen veg
- Borrow solely what 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 excellent. However when you’re in a good 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 simple to price range for.
It’s not a repair, but it surely may cease a brief‑time period wobble turning into an even bigger monetary downside.
Learn subsequent:
Learn 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 residing on little or no and have become debt free by following her personal cash saving ideas and tips. She is an skilled on saving cash on the grocery store and aspect hustles.
