The rate of Post Office Money is often competitive, the advertised APR may not be the rate you will receive. The Post Office Money will give customers the rate based on factors including credit score, income, and spending. How to get the Post Office Money personal loans?
In the previous post, Info Credit Free introduces people to some of the necessary information that is useful for getting the Sainsbury’s Bank personal loans, to get more information people can read the article Four steps to get the Sainsbury’s Bank personal loans online. Now, let find knowledge about the Post Office Money personal loans in the post today.
POST OFFICE MONEY PERSONAL LOANS
Just like a lot of article posts such as best loan companies for poor credit, where can you check your credit score, loans for very poor credit rating… this post about the Post Office Money personal loans also includes some main parts. They are:
1. Some information about the Post Office Money personal loans
Personal loans provided by the Post Office Money are not guaranteed; they will not use any borrower’s assets as collateral. Instead, lenders will check their credit to determine the borrower’s reputation. There are some personal advances that customers can borrow as before and after;
- Long-term advances
- Debt consolidation progress
- Holiday progress
- Fair credit progress
- Mortgage of house renovation
- Fast forward
To be eligible for pre-paid postage, borrowers must be at least a three-year-old resident of the United Kingdom. Customers must also earn at least 12,000 pounds per year or self-employed for more than two years.
2. The interest rate and fees of the Post Office Money personal loans
The Post Office Money personal loans are unsecured loans – which means they are based on prestige, instead of using assets, vehicles and other assets as collateral. Loans are available for 1-3 year periods for loans of between 1,000 and 3,000 pounds, 1-5 years for loans from 3,001 to £ 15,000 and for 1-7 years for loans between 15.001 and 25,000 table.
Although the rate of Post Office Money is often competitive, the advertised APR may not be the rate you will receive: Post Office Money will give you the rate based on factors including credit score, your income, and spending.
- The loan term is from 1 to 7 years. Note the different terms available depending on the loan amount.
- Loan amount from £ 1,000 to £ 25,000.
- Fixed monthly repayment. The interest rate is fixed, which means you will pay the same amount each month and you know how much it will cost you.
- Quick decision. Online decisions are immediately made in most cases.
- Quick access to funds. Once the relevant documents have been received and your loan is approved, the money can go to your account right after the next day.
- There is no penalty for paying too much.
3. Some requirements to get Post Office Money personal loans
If you are sure you can meet the repayment terms and you meet the following criteria, you can apply for a Post Office Money loan :
- You must be over 21 years of age and not more than 70 years old when the loan ends.
- You have an annual income of at least £12,000. If you work on your own, you must work for at least 2 years.
- Have lived in the UK for at least three years.
- Having a bank based in the UK or building a social account can pay direct debits.
- Have a good credit rating without a County Court judgment or bankruptcy.
Make sure you have the following information useful for your application if you have decided that Post Office Money personal loan is right for you,
- The address details for the past three years.
- The current income and details of your monthly activities.
- Sort code and account number of your bank or social account.
This post is about Post Office Money personal loans. We provide this information to offer you some of the necessary information that is useful for getting Post Office Money personal loans. Also if you are looking for information about the personal loans from M&S, please refer to the Three benefits of M&S personal loans attract customers link we just provided in the previous article.
Hillary (Team Content) – Info Credit Free