Iceland’s curiosity‑free Meals Membership loans are again. Right here’s tips on how to use them (with out getting burned) if the meals store is breaking your finances.
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The summer season holidays are good for household time, however a complete catastrophe for the meals finances.
Youngsters at dwelling = cabinets emptied at report pace.
If you happen to’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 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 in case 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 feels like: a solution to borrow a small quantity in 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 in case you’re new and £100 in case you’ve used it earlier than). If accredited, 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 nasty concept?
Actually? Sure – in case 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 onerous, and missed funds imply charges and further curiosity you’ll be able to’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’ll be able to truly plan round it
So whereas borrowing for meals isn’t one thing we’d ever suggest as Plan A, in case you’re in a rut, it is a safer Plan B.
The right way 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 revenue and outgoings to examine it’s inexpensive).
If you happen to’re accredited, 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’ll be able to normally reapply when you’re clear.
The right way to make it work tougher
If you happen to’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’ll be able to pay again – the very last thing you need is to swap meals stress for debt stress
Remaining phrase
Borrowing to purchase meals isn’t ultimate. However in case 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 possibility.
There’s no curiosity, no sneaky prices and the repayments are simple to finances for.
It’s not a repair, however it may cease a brief‑time period wobble turning into a much bigger monetary downside.
Learn subsequent:
The right way 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 methods. She is an skilled on saving cash on the grocery store and facet hustles.
