With Post Office Money cash loans the minimum loan amount is £1,000, and the maximum is £25,000, with the repayment period ranging from 1 to 7 years.
The Post Office is one of the most prominent loan lenders UK. This is ideal when you need to fund a new car, home improvements, an educational qualification, or to consolidate and organise existing debts. A personal loan is ‘unsecured’ which means you can borrow money whether you own a home or not.
How much will it cost?
Interest rates are low, and are fixed for the duration of the loan. Your rate will depend on the amount borrowed and repayment period as well as your circumstances, with a typical representative rate of 3.2% on loans from £15,001 to £25,000.
With post office personal loans the minimum loan amount is £1,000, and the maximum is £25,000, with the repayment period ranging from 1 to 7 years. Repayments are the same amount every month, providing certainty, and enabling you to plan your personal finance.
Furthermore, there is the flexibility to repay the loan more quickly if you want, either in full or in part, by making overpayments. However, you cannot take a payment holiday.
Applying is easy and quick, using the online application process. In most cases the decision is instant, and funds can often be transferred to your account the next day.
Before making a formal application for postoffice money quick cash, an online ‘fast checker’ can be used to give a quote and indicate whether your application will be approved. This is easy to use and gives an instant result.
Just by inputting details such as the amount to borrow and number of years over which to repay, the ‘fast checker’ calculates the monthly cost. Using this facility will not affect your credit rating and neither does it commit you to making an application.