Penny Post Loans

Penny Post offers a range of 5* award winning Personal Loans to members.

Silver Loan

For members with 1 or more years’ Royal Mail Service

or Penny Post Membership

Borrow up to £8,000
(no savings required)

Interest rate 22.3% p.a. (24.9% APR)

Gold Loan

For members with 2 or more years’ Royal Mail Service

or Penny Post membership

Borrow 4 x Penny Post savings balance
(borrow £1,000 – £15,000)

Interest rate 9.4%pa (9.9% APR)

Platinum Loan

For members with 5 or more years’ Royal Mail Service

or Penny Post membership

Borrow 5 x Penny Post savings balance
(borrow £8,000 – £25,000)

Interest rate 4.75% pa (4.9%APR)

Rapid Loan

For all members


Borrow up to £500
(no savings required)

Interest rate 36% pa (42.6% APR)

Starter Loan

For new members with less than 1 years’ Royal Mail Service

or Penny Post membership

Borrow up to £2,000
(no savings required)

Interest rate 24% p.a. (26.9% APR)

Seasonal Loan

For members with 1 or more years’ Royal Mail Service

or Penny Post membership

Borrow up to £2,000
(no savings required)

Interest rate 22.3% p.a. (24.9% 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.

Important to know

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 here. https://www.experian.co.uk/legal/crain

We would encourage members who experience financial difficulties to contact us at the earliest opportunity to discuss the possibility of a revised repayment plan.

Members Quotes
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“Excellent communication, low interest rates on loans and hassle free.”

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“Good loan system and very quick decisions. Excellent service. Thankyou.”

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"The lending process is straight forward and the online applications are very easy."

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"I think Penny Post is very good because I get loans with them and it helps me a lot."

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"Really useful when I’ve needed cash in an emergency"

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"They gave me a loan so I could take my son on a holiday of a life time"

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