SteadyPay’s CashWave loan offer is designed for those needing short-term cash quickly without the worry of escalating interest. With the option to receive up to £500 and repay in affordable monthly instalments, it’s aimed at people with fluctuating incomes and bad credit.

Unlike traditional lenders, CashWave charges no interest. Instead, a simple subscription fee of £30 per month applies, making the cost clear and predictable for the duration of your loan. You know exactly what you’ll pay, with no surprise charges along the way.

The representative APR is 91.25%, reflecting the service subscription as the cost, rather than interest. Borrowers can access £300 and repay £390 over 120 days as a typical scenario.

How to Apply: Step by Step

• Download the SteadyPay app on your smartphone.
• Sign up and complete the quick eligibility checks.
• Pay at least two weeks’ subscription to activate your borrowing facility.
• Request the amount you need, up to £500.
• Repay in affordable monthly instalments by direct debit.

Pros of SteadyPay CashWave

CashWave is ideal if you have bad credit or variable income. The no-interest, subscription-only model keeps borrowing simple and transparent, so you always know what you owe.

Quick access via their app and the chance to boost your credit score through responsible repayments make it an appealing choice for workers paid monthly or with variable hours.

Cons to Consider

A 91.25% representative APR means the subscription does add up, especially if you only borrow a small amount. You must be employed, with a bank account and regular income from an employer.

You need to pay the subscription even if you don’t use the facility after activation, and the total cost over time is higher than some conventional options.

Verdict

SteadyPay’s CashWave works well for those looking for a no-interest option with upfront fees, especially if other lenders aren’t available to you. For the right borrower, the predictability and speed make it a solid option, but always weigh the recurring subscription cost against how much you need to borrow.