Members Quotes
or Penny Post Membership
Borrow up to £8,000
(no savings required)
Interest rate 22.3% p.a. (24.9% APR)
or Penny Post membership
Borrow 4 x Penny Post savings balance
(borrow £1,000 – £15,000)
Interest rate 9.4%pa (9.9% APR)
or Penny Post membership
Borrow 5 x Penny Post savings balance
(borrow £8,000 – £25,000)
Interest rate 4.75% pa (4.9%APR)
Borrow up to your Penny Post savings balance
(borrow £250 – £25,000)
Interest rate 2.86% (2.9% APR)
or Penny Post membership
Borrow up to £2,000
(no savings required)
Interest rate 18% p.a. (19.6% APR)
or Penny Post membership
Borrow up to £2,000
(no savings required)
Interest rate 24% p.a. (26.9% APR)
Loan Calculator
Use our loan calculator to see how much you could borrow and how much you would pay back.
Which Loan?
Need help finding the right Loan for you? Then use our Penny Post Loan Finder.
Loan FAQs
For help and guidance on applying for a Penny Post loan and everything you need to know to guide you through the application process.
Members can hold a maximum of two loans at any one time, with a maximum total balance of £8,000 (with the exception of Gold and Platinum Loans).
There are no arrangement fees or hidden charges with Penny Post loans. Members can pay off loans early, without incurring penalties – instead you will save money on interest.
Repayments are on a weekly or monthly basis, and members should be aware that there are some legal limitations to length and amount of loans. Our general advice is to try and repay a loan in as short a time as possible (this way it will cost you less).
Members who are bankrupt or taken an Individual Voluntary Arrangement (IVA) that shows on their credit report (normally six years after the event) are welcome to save with Penny Post Credit Union and benefit from the Annual Divided (profits allowing), however, loans are not available to these members.
Members are encouraged to save on a regular basis while repaying their loans.
As part of the loan assessment, we use a licensed Credit Reference Agency. The ways in which they use and share personal information are explained in more detail in the Credit Reference Agency Information Notice (CRAIN) here.
We would encourage members who experience financial difficulties to contact us at the earliest opportunity to discuss the possibility of a revised repayment plan.
