Good News- The Family Loan is Now £700!
- Suha Hazboun
- 4 days ago
- 2 min read
After lots of thought, we’ve decided to increase the Family Loan from £500 to £700.
It has the same rules and same checks as the old amount.
Let’s explain why...
Why has the Family Loan gone up?
Many of you told us that £500 wasn’t enough, especially with the rising cost of living. We know times are tough, and while we don’t encourage bigger loans just for the sake of it, we want to help when it's needed.
What is the Family Loan?
The Family Loan has helped lots of people by:
Avoiding payday loans, which can be expensive and hard to repay.
Helping people save, as you build up savings while repaying the loan.
It’s a smart way to borrow and save at the same time.
What’s new?
From now on, families with children can apply for £700 instead of £500.
You repay it using your Child Benefit.
No credit check needed.
How does it work?
Same checks as before – we’ll still check if it’s affordable for you.
We’ll give you a decision as quickly as possible, usually within 1 working day.
You repay via your Child Benefit, which has to be paid into your CLEVR Money account.
Loans are subject to status. Terms and conditions apply.
Don’t apply if you are considering, or are in an IVA, DRO, DMP or bankrupt.
Representative example: Borrowing £700 over 12 months will cost £70.32 per month. Total amount repayable is £843.84 which includes interest at 42.6% APR.
Family Loan alternative? If you can't apply for a Family Loan, don't worry, we got you!
Borrow £500 - £1,000 over a maximum term of 12 months. No Credit Check!
No Stress. Just Easy Payments.
At CLEVR Money, we make borrowing simple. With CLEVR Deduct, your loan payments come straight from your wages—so you never have to worry about missing a payment. No credit checks, no surprises—just automatic, hassle-free payroll deductions that fit your budget.
How It Works
✅ You borrow – Get the money you need with a loan that works for you.
✅ You earn – Keep working as usual, no extra hassle.
✅ You pay automatically – Payments come straight from your wages. No stress, no forgetting, no late fees.
✅ Exclusively for employees of our Payroll Partners* – set your account up with us direct, we sort the payments with your employer.
*Your employer must be in partnership with CLEVR Money. Here is more information about how to become partner with CLEVR Money and it is totally free.
Why It’s CLEVR
🔶 No credit checks – for loans between £500 - £1,000 if you work for a payroll partner.
🔶 High approval rates – If you're employed and can afford the repayments, you're eligible – no credit check needed.
🔶 No missed payments – Everything happens automatically.
🔶 No stress – One less thing to think about.
🔶 Fair & flexible – Affordable repayments that fit your life.
Made for Real Life
Whether you need extra cash for an emergency, a big expense, or just to smooth out your budget, CLEVR Deduct keeps things simple. Get the support you need—without the worry.
