Interest rate 22.3% p.a. (24.9% APR)
No savings with Penny Post? No problem! Borrow up to £8,000 with this flexible loan, exclusively for members with 1 or more years’ Royal Mail service or Penny Post membership.
Members can apply for a Silver Loan for almost any purpose. So if you’re planning home improvements, upgrading the car or have a special occasion to celebrate, talk to us, and we might be able to help!
Please Note : If applying to Top Up your existing Silver 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.
Use our loan calculator to see how much you could borrow and how much you would pay back.
Need help finding the right Loan for you? Then use our Penny Post Loan Finder.
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 £2,000 over 99 weeks will cost £25 a week. Total amount repayable is £2439.00 which includes interest at 24.9% APR.
Borrowing £5,500 over 48 months will cost £175 a month. Total amount repayable is £8,096.22 which includes interest at 24.9% APR.