Post Office Loans

Post office is known to provide its service to customer, they do one more service of providing financial products to the residents of UK. Post office financial products are many they provide credit cards, insurance and even loans.

Personal loans are a priority financial product with post office. You may need cash for any of your immediate financial requirements like need for extra cash or home improvement or debt consolidation and post office has the answer in the form of personal loans.

Loan amounts ranging from £2,000 to £25,000 with a typical competitive APR of 7.4%is available for the loans, the loans have APRs ranging from 7.9% to 12.5% They are unsecured personal loans with no need for a security like a house or life insurance policy.

Though the process for getting Post office loans looks easy, the customer has to fulfil some requirements to get the loans. They need to be UK residents for atleast three years or more and be aged above 21 years. They need to have a bank or building society account in their name and confirm that they do not have any CCJs. They also need to have a regular income of £8,000 or more per annum.

The loan amount and repayment mode and period are all decided by the customer. Post Office provides a loan calculator and budget calculator to help the customer understand his requirements and ability to repay the loan. Applications are available online with decision on loan approval being offered to the customer within minutes. The loans funds are thereafter transferred to the customers account by direct transfer.

You might have to weigh the pros and cons of the loans and accept the loans from Post Office if you like them.