• The more you borrow, the lower your rate
• Apply for a top up when you have repaid 20% of your Simply Loan
• If a previous application has been reduced or declined, you must wait 6 months before you can apply again
• Easy to apply, with options for everyone.

• No application fees or hidden charges.
• No penalties for paying your loan off early.
• Repayments straight from your pay, or pay by Direct Debit.
• Weekly or monthly repayments, to suit your budget.
• Save as you borrow, so you’ll have a lump sum when you’ve repaid your loan.
• Savings continue to attract dividend payments* whilst repaying your loan.

*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.

• Members may only hold 1 Penny Post loan at any time.
• All loans are subject to our affordability checks. We may offer you a different amount, or we may not be able to lend.
• Missing repayments can make it harder to borrow in the future, and may affect your credit file.
• This loan is not available to members who are bankrupt or have an Individual Voluntary Arrangement (IVA) that shows on their credit report.
• Other terms and conditions apply.

• You must save a minimum of £2/week or £10/month while you repay your loan.
• You can see your locked savings balance online, but you can’t withdraw it until your loan is repaid.

With your consent, we use Open Banking to look at your income and spending. It’s the quickest way for us to look at your application. To find out more about Open Banking, click here. If we cannot use Open Banking, you will need to send us your last 3 months of bank statements. They must show your name and cover the 3 months up to the date you apply. Poor quality or incomplete copies will slow things down.