New upcoming Post Office personal loans will feature:
- Competitive rates
- A broad choice of amounts to borrow
- Flexibility in arranging your repayments
- Provided by Bank of Ireland Personal Finance limited
If you are interest in a taking out a loan with a specific lender, you could see if they offer their own loan calculator, you normally just need to enter into the loan calculator how much you would like to borrow as well as how long you would like the repayment term to be. The calculator will then generate an estimate of the total you would be required to repay and a breakdown of what that would work out as per monthly instalment. However you should remember that if you decide to apply for the loan and you are accepted the lender, once they have assessed your credit history and other financial information, may decide to other you a different APR than their representative APR. This means that the amount you would be expected to repay would be different, as would the size of your instalments be.
Before you apply for a loan
Before taking out a loan it is worth checking out how it compares with the leading market rates - let our loan calculator might be able to help you. Just click on the link and enter some basic details about the type of loan deal you are looking for and our comparison service will display potential offers.
When looking for a loan consider what features are important to you, you may also want to Consider alternatives to borrowing before you apply, for example if you have any savings it might be beneficial to use these instead; as it may be that the interest you pay on a loan will be higher than any interest you earn in your savings.
There are other types of borrowing than loans such as authorised overdrafts and credit cards you might wish to consider.
Also if you are thinking of taking out a loan to consolidate debt understand that spreading your payments over a longer term could mean you ultimately pay more overall than you would with your existing arrangements, even if the interest rate on the new loan is less than the rates you have at the moment.