Find answers to the questions we’re asked most about Post Office Personal Loans.
How do I get a payment break on my Post Office Personal Loan?
Please be assured that we will help all our customers impacted by coronavirus. The guidance issued by the Financial Conduct Authority allowed for customers to apply for initial payment deferrals up until 31 March 2021. Further payment deferrals are only available for those customer who are eligible FAQ link. If you’re not eligible to apply for a payment break, don’t worry, we’re still here to support you if you need it by calling us on 0800 169 2000 to discuss the different options available to you.
Payment breaks will not impact your credit file held by credit reference agencies. You should bear in mind though, that lenders may take information from other sources into account when making future lending decisions, such as from your bank account where they will be able to see changes to your regular payments or information you provide them about your payment break.
If you take a payment break, we’re legally obliged to send you a ‘Notice of Sums in Arrears.’ Although it will inform you you’ve fallen behind with your repayments and are in breach of your agreement with us, this is not the case. Your account will not be in arrears as long as you make your contractual monthly repayments as they become due when your payment break ends. Further information can be found in our FAQs.
Will I receive my quoted APR?
The APR you receive may vary from the advertised rate. This is the representative rate which we expect most people who apply to get.
The rate you’re offered will be a personalised rate based on your current individual circumstances, including credit information held about you by credit reference agencies, the loan amount you borrow and length of time you borrow for.
When will I receive my money?
We aim for the money to be in your bank or building society within 2 working days once we’ve received your signed agreement.
When do I need to make my first loan repayment?
Your first loan repayment will be one calendar month from the date the loan is released to you. You’ll see the date on your welcome letter. If this day falls on a bank holiday or weekend, the repayment will be made on the next working day.
Need help with something else?
Here’s where to get answers and support with these related products and services.
Manage your account, read our FAQs or contact us – including if your card’s lost or stolen.