Loan Of The Month – Gold LoanPosted on Feb 13, 2020
From time to time we all need to borrow, but it can sometimes be confusing to work out which loan is best for you! This month we look at the Penny Post Gold Loan.
Check out these 5 things you should know about our Gold Loan!
- Borrow between £1,000 – £15,000, up to 4 times* your savings
- Preferential interest rate of 9.4% p.a. (9.9% APR), rewarding you for saving – better value than almost all credit cards
- 2 or more years’ Royal Mail service or Penny Post membership required
- 25% of the original loan value kept in savings & continues to attract a dividend whilst repaying your loan
- Maximum loan term 6 years
*Paying ‘lump sums’ into a savings account to qualify for a Gold Loan is not permitted. Instead regular weekly or monthly savings are required. However, transferring regular savings from another savings account may be considered, on an individual basis.