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Personal loans FAQs

What is an APR?

APR is the Annual Percentage Rate (APR) and is used to describe the overall cost of money borrowed. It takes into account the interest rate, when it is charged (daily, weekly, monthly or annually), any fees charged when setting up the loan and any other costs applicable to the loan. The APR makes it easy to compare different loan products across the market.

Will I received 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 are offered will be a personalised rate based on your current individual circumstances including credit information held about you by the credit reference agencies, the loan amount you borrow and length of time you borrow for.

Can you tell me how much a loan will cost without impacting my credit score?

We offer a Fast Checker quotation tool which enables you to find out how likely you are to be accepted without impacting your credit score. All you need to do is provide a few details. Find out more by clicking our Fast Checker tool.

Will I need a credit check?

Yes. A credit check will be completed to help us make a decision on your loan application. Please read our decision explained leaflet for more information on how we assess your application.

Can I use this loan to pay off other debts?

Yes, in the right circumstances debt consolidation can be beneficial and help you manage your debt. If you have all your debts in one place, it means that you only have to track one interest rate and one payment to make each month.

However, before applying for a consolidation loan you should review your options to make sure that the loan which you are considering is right for you. For example, compare the rates of interest between your current loan providers and your proposed Post Office Money Loan and consider how long the loans are for.

In some circumstances taking out a consolidation loan could mean you end up paying a higher rate of interest and / or it may take longer for you to pay the money back.

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.

Can I change my mind about taking out a loan?

Yes. You have 14 days to change your mind.

You will have 14 calendar days from the day after you receive your acceptance letter to withdraw from your Agreement. If you decide you don’t want a loan from us, just call 0800 169 2000 within this 14 day period.

We are open Monday to Saturday, 8am-8pm and Sunday, 9am-5pm.Please note we are closed on Bank Holidays.

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 business day.

Can I pay my loan off early?

Yes, you can settle your agreement early in full or in part, at any time.

If you wish to pay off your loan in full you will firstly need to request a settlement quotation by calling us on 0800 169 2000.

To make a partial settlement you can call us to make a debit card payment. As a result of any repayment we will reduce the term of your agreement unless you tell us otherwise.

Can I get help if I get into financial difficulty?

If you are struggling to keep up with the repayments on your loan for whatever reason, we’re here to help. It is important that you call us on 0800 169 2000 and we’ll talk you through the options available to you.

There are lots of organisations that can provide confidential, impartial and free help and advice. More information can be found in our leaflet, are you in financial difficulties?

If you are already in touch with an organisation that is giving you financial advice, please let us know and we can deal with them directly.

What is an Early Settlement?

Partial Early Settlement – This is where you make a payment towards the sum you owe to us which is over and above your normal contractual monthly repayment amount. There is no limit to the number of early settlements you can make during the term of your loan and there is no minimum or maximum amount you can pay.

Full Early Settlement – This is where you pay the full amount you owe to us and clear your loan before the end of the original agreed term.

You can request a Partial or Full Early Settlement by either contacting us on 0800 169 2000.

What can I do if my loan application is declined and I don't agree?

If you're unhappy with our decision you can ask us to reconsider by telephoning us on 0800 169 2000.

You should be aware that we cannot give any guarantees that our original decision will be changed. To support your appeal you will need to provide us with any additional relevant information which was not given to us when you first made your application.

Can I choose the date to make my repayments?

Yes, of course. Just call us on 0800 169 2000, after you’ve made your first repayment, and let us know which day of the month is best for you. Repayment date changes are limited to one per calendar year.

How do I find out how much my outstanding loan balance is?

If you ever want to find out the outstanding balance of your loan account, simply call us on 0800 169 2000.

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Contact us for general enquiries

Call us on

0800 169 2000

8.00am - 7.00pm, Mon - Fri
8.00am - 2pm, Sat
Closed Bank Holidays and Sundays