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TOP UP LOAN

It's quick and easy to apply for additional borrowing.

 

Post Office Personal Loans are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender. 

 

 

Top up your existing Post Office loan

Already have a personal loan and need to borrow more? It's quick and easy to apply online for additional borrowing. Need a new car? Improving your home? Paying off your debts? Whatever you’re borrowing for, a Personal Loan from Post Office could be right for you.

  • No hidden fees - we won’t charge you any penalty interest for settling your existing loan
  • No obligation quote - a personalised quote that won’t affect your credit rating
  • A quick decision - we usually give an instant online decision
  • 3.3% APR Representative (Fixed) on loans from £15,001 – £25,000
  • You could borrow up to £25,000, depending on your circumstances. This amount includes your existing loan.
  • A choice of topping up your existing loan or taking out a second.

Please see Important Information section below for further information, including our Statement of Lender and Borrower Responsibilities.


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Representative example:

This is not based on your details, it just an example to show how repayments might work for this kind of loan.

Representative 3.3% APR. Based on a loan amount of £17,500 over 60 months at an interest rate of 3.3% p.a. (fixed). Monthly repayment £316.41. Total amount repayable £18,984.52. 

The interest rate offered on assessment may differ and the representative rate may not be the rate that you receive. The rate you are offered will depend on a number of factors including the amount you wish to borrow, your chosen term, your personal circumstances and your credit rating. The maximum APR you could be offered is 29.9%

In other words…

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A loan amount of £17,500

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Over 60 months

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With a Fixed rate of 3.3% p.a.

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Means a monthly payment of
£316.41


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Your borrowing options

During the application process you'll have the option to either:

top up existing

Top up your existing Personal Loan

Replace your existing loan with a new one and you will have one new monthly payment

  • Red ticket When you top up a loan we set up a new loan for the remaining balance plus the extra amount you want to borrow.
  • Red ticket The new loan may have a different interest rate and term from your initial loan, therefore you could pay more interest than before.
  • Red ticket If your current loan is £5,000 and you want to borrow an extra £2,000, we’ll open a new loan for £7,000 and pay off the first loan, leaving you with the remaining amount.
  • Red ticket When selecting your top up amount, we will round up the amount to the nearest £100. You should therefore take this into consideration when deciding on the top up amount you need.
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Take out a second Personal Loan

Choose to take out a separate loan that sits alongside your existing one

  • Red ticket There may be times when you don’t want to top up an existing loan. This may be because you took your current loan for a specific reason and want to keep the repayments separate.
  • Red ticket You can also choose to take out a separate loan that sits alongside your existing one that you'll continue to repay separately.
  • Red ticket You will have two monthly payments until your existing loan finishes. Your existing loan will remain under its original terms and rate.
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Frequently asked questions

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.

The Representative APR is an APR at or below which an advertiser reasonably expects most people who apply for this product will get.

Will I receive the advertised 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 I get help if I get into financial difficulty?

f 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.

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Applying for a Post Office Loan

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.

Where can i find the key information about Post Office Loans?

Please read our leaflet borrowing money with a Post Office Loan for key information.

Can I check my eligibility before I apply?

Yes, you can use our Fast Checker tool.

What is e-signature?

You may be offered the opportunity to sign your agreement form online, saving the need to post documents.

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.

What can I do if my Post Office Loan application is declined and I would like to appeal?

If you would like to appeal our decision you may do so by calling our Customer Service Team on 0800 169 2000. You may be asked to provide additional information to support your appeal, although there is no guarantee that our original decision will be changed.

Can I use this loan to pay off other debts?

Yes you can, however, before applying for a debt consolidation loan you should review your options to make sure that the loan which you are considering is right for you.

Can I change my mind about taking out a loan?

Yes. You’ll have 14 calendar days from the day after you receive your acceptance letter to withdraw from your Agreement. If you decide you no longer want a loan from us, just call 0800 169 2000 within this 14 day period. Should you change your mind, your previous loan will not be re-instated and you’ll be required to pay back the full amount of your new loan.

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Managing your Loan

How do I make my monthly repayments?

Monthly repayments are made by direct debit unless we agree otherwise. Your direct debit will be set up from the bank / building society account you have chosen during your application.

If you want to change the bank account from which your repayments are paid please contact us on 0800 169 2000.

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.

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.

Can I take a payment break?

No. We’re sorry, but you can’t take a payment break with our loan.

If you are struggling to keep up with the repayments on your loan, we’re here to help. Please contact us on 0800 169 2000. Alternatively, 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?

Can I pay my loan off early?

Yes, you can settle your agreement early in full or in part, at any time. Please be aware if you make an early settlement in full, we will charge up to 58 days' interest.

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.

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.

What should I do if I need to change my personal details?

If you need to inform us of any changes to your personal details, please call us on 0800 169 2000.

Existing customer payment

Customers who wish to pay towards outstanding arrears balance on their Post Office Personal Loan click here. If you are in arrears and/or financial difficulty and wish to speak to us, please call us on 0800 012 1548.

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Contact us for general enquiries

Call us on

0800 169 2000
Mon-Fri; 09:00 – 19:00
Sat 09:00 – 14:00
Closed Bank Holidays