Interest rate 36% pa (42.6% APR)
We’re here to help with the cost of life’s little emergencies, so when you need a helping hand, look no further than a Penny Post Rapid Loan. Borrow up to £500 and repay over 12 months with affordable fixed repayments to help you budget.
Members can apply for a Rapid Loan for almost any purpose. So if the washing machine breaks down, the car needs new tyres or you’re faced with a ‘little emergency’, talk to us, and we might be able to help!
Please Note : If applying to Top Up your existing Rapid Loan, please apply for the amount you are topping up by, when completing the Nivo application. If approved, this amount will be the extra amount you receive.
With your consent, we use Open Banking to review your income and expenditure, speeding up the assessment process and saving you time. Open Banking is safe and secure, quick and easy. For more information on Open Banking, click here.
If we cannot use Open Banking, you will need to supply us with copies of your last 3 months bank statements, before we can consider your application. The bank statements must cover the 3 months up to the date of your application, and must include your name and address*. Poor quality or incomplete copies cannot be accepted, and will delay your application. Open Banking is therefore the quickest, easiest and most secure way to provide us with the required income and expenditure information.
* If your address (or name) is different to the one on our system, we will need to see a recent, official proof of address document like a bank statement or utility bill before considering your loan application.
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.
Borrowing £400 over 26 weeks will cost £16.86 a week. Total amount repayable is £435.00 which includes interest at 42.6% APR.
Borrowing £500 over 6 months will cost £92.30 a month. Total amount repayable is £536.50 which includes interest at 42.6% APR.