Our Loans Just Got Better

Great news! Our loans just got better!

From time to time, we all need to borrow, and Penny Post is here to help. With great 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.

Rates from just 2.9%

Our rates just got better, with options for everyone!

No savings with Penny Post? No problem! Borrow up to £10,000 with our flexible Personal loan at competitive interest rates from 11.5% APR, that’s cheaper than most credit cards.

Savings with Penny Post? Then take advantage of our new Advantage loan which rewards saving. Borrow up to 5 times your Penny Post savings balance at extremely competitive rates from just 4.9% APR, or enjoy our lowest ever rate of just 2.9% APR, with our Savings Secured loan. And remember… your savings continue to earn a dividend* making the rates even better, and you benefit from our Free Life Cover too!

How to apply

It’s now even easier to apply for a Penny Post loan! With options for everyone, you can now apply on our Mobile App, apply online by completing our easy mobile friendly online application, apply on Nivo from your mobile, or complete a paper form if preferred, although this takes a bit longer!

Why save as you borrow?

Saving with us is easy and we’re helping members build up savings while repaying their loan. By saving £2 a week, that’s less than a cup of coffee each day, you’ll have a lump sum of savings once you’ve repaid your loan.

Saving small amounts soon build up, and by saving regularly with Penny Post, you could access even more advantageous interest rates in the future!

What are ‘Locked Savings’?

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 This minimum saving amount will be added to your ‘Locked Savings Account’ and cannot be withdrawn until the loan is cleared.

Saving small amounts soon add up and 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.

Locked Savings says what it does on the tin – the savings are locked until your loan is repaid. Choose to keep your savings locked once your loan is repaid, you’ll have access to even better loans in the future! The great news is your Locked Savings still earn an annual dividend too*.

There’s never been a better time to borrow from Penny Post!

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