Penny Post Loans

Penny Post offers a range of flexible Personal Loans to members

Need a loan, we’re here to help

From time to time we all need to borrow, and Penny Post is here to help. With rates from just 2.9% APR and cheaper than most credit cards, our straightforward loans are easy to apply for, with options for everyone! And … with save as you borrow, you’ll have a lump sum when you’ve repaid your loan too.

Personal Loan

For all members

Borrow up to £10,000
(no savings required)

Save as you borrow

Interest rates
25.9% APR for loans <£1,999
21.9% APR for loans £2,000 – £4,999
19.9% APR for loans £5,000 – £10,000

Advantage Loan

For all members

Borrow 5 x Penny Post savings balance
(borrow £1,000 – £25,000)

Save as you borrow

Interest rates
10.9% APR for loans <£9,999
5.9% APR for loans >£10,000

Swap & Save Loan

For all members

Tidy up your finances by consolidating outstanding borrowing into 1 manageable repayment
(borrow between £2,000 – £25,000)

Save as you borrow

Interest rate
16.9% APR

Savings Secured Loan

For all members

Borrow up to your Penny Post savings balance
(borrow £250 – £25,000)

Save as you borrow

Interest rate
2.9% APR
our lowest rate

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 may only hold one loan at any time. If members currently hold 2 loans, they will be amalgamated into 1 loan, when the member next applies to Top Up.

There are no arrangement fees or hidden charges with Penny Post loans. Members can also pay off loans early, without incurring penalties – instead you will save money on interest.

Repayments are on a weekly or monthly basis, with repayments tailored to suit your budget. Interest is calculated on the reducing balance, so the quicker you repay a loan, the less interest you will repay.

All members must save a minimum of £2/week or £10/month as they borrow, so you’ll have a lump sum saved once you’ve repaid your loan. This minimum saving amount will be held in your ‘Locked Savings Account’ – you can view the balance online and watch your savings grow, but withdrawals are not permitted until the loan is cleared. When your Locked Savings balance exceeds your outstanding loan balance, you may contact Penny Post if you wish, and use your locked savings to clear your loan balance, saving you interest too.

As part of the loan assessment, we use a licensed Credit Reference Agency. The ways they use and share personal information are explained in more detail in the Credit Reference Agency Information Notice (CRAIN) here.

Unfortunately, a member who is on sick leave is not eligible to apply for a loan. Members who are currently on sick leave can re-apply once they return to work.

Members who are bankrupt or have 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.

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

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


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


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


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


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


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

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