Your CashWave limit can increase as you continue using the product responsibly. The maximum available balance is £500. The initial loan amount is based on a multitude of factors, but you’ll graduate gradually based on your repayment history and affordability checks.
💷 How graduation works:
From | To | What's needed |
£50 → £100 | £100 | 2 full-term loans (30 days each) + min. 60 days at £50 tier |
£100 → £200 | £200 | 3 full-term loans + min. 90 days at £100 tier |
£200 → £300 | £300 | 2 full-term loans + min. 60 days at £200 tier |
£300 → £500 | £500 | 4 full-term £300 loans + min. 60 days at £300 tier |
A full-term loan means keeping the loan active for the full 30-day repayment period. Early repayments do not count towards graduation because the system tracks responsible repayment over time.
This amount may increase in the future for our loyal members who have good behaviour on the SteadyPay app.
🔍 What else affects my graduation?
Your eligibility for a higher limit is also based on ongoing affordability and credit checks. These checks happen regularly throughout your account’s lifespan to ensure that a higher limit remains affordable for you.
💰 Will my fees change if I graduate?
Yes - when your available balance increases, the fee will increase in line with the higher amount.
You’ll always see the total cost in the app before confirming a new drawdown. If you believe the total owed balance is not affordable, you can decline the loan.
The subscription fees will not be added if a loan is not withdrawn.
❓Need more help?
If you’re unsure where you are in your graduation journey or want to check your progress, please reach out via the in-app chat or email [email protected].