• Borrow between £10,000 – £25,000, subject to affordability
• Fixed interest rate of 6.4% APR
• Repay over up to 84 months (7 years)
• Save as you borrow, so you’ll have a lump sum when you’ve repaid your loan
• Easy to apply, with options for everyone

• Lower APR rate for excellent credit
• No application fees or hidden charges
• No penalties for early repayments, so repay early & you’ll save interest
• Affordable loan repayments through payroll deduction, or alternatively by direct debit
• Convenient weekly, 2-weekly, 4-weekly or monthly repayment, tailored 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.

• The Select Loan is available to members with an excellent credit history, a stable income, and no recent defaults or missed payments.
• The Select Loan is not available to members who are bankrupt or have an Individual Voluntary Arrangement (IVA) that shows on their credit report.
• This loan product may not be used to refinance or transfer any existing loan held with PPCU.
• You must save a minimum of £2/week or £10/month as you borrow, so you’ll have a lump sum saved when you’ve repaid your loan. This minimum saving amount will be held in your ‘Membership Account’ and cannot be withdrawn until your loan is cleared.
• Members may only hold 1 Penny Post loan at any time
• Other terms and conditions may apply.

1. Don’t worry if you don’t qualify for our Select Loan, we’ve got options for everyone! View our loans page, for more information.
2. No savings with Penny Post? No problem! Borrow up to £10,000 with our Personal loan at competitive interest rates from 19.9% APR, that’s cheaper than most credit cards.
3. Savings with Penny Post? Then take advantage of our Advantage loan which rewards saving. Borrow up to 5 times your Penny Post savings balance at extremely competitive rates from just 6.9% APR, or enjoy our lowest ever rate of just 5.9% APR, with our Savings Secured loan.
4. Looking to manage your debts and reduce monthly outgoings? Tidy up your finances by consolidating outstanding borrowing into 1 manageable repayment with our Swap & Save loan.
5. Use our handy online loan calculator to see what repayments suit your budget. It’s a good idea to make a note of the loan name, amount, and repayment term before starting the online application form.
6. When a loan requires a level of savings we usually only take into account savings built up in your Penny Post accounts. However, we will consider lump sums paid into your Penny Post account from other sources, if you are able to provide evidence that the lump sum has come from other savings.