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Get started with a personal loan
How does the amortization schedule work?
- It works similar to a mortgage
- Typically, your payments will be scheduled each month
- You pay the same amount each month
- Each month, you pay a little bit of principal and a little bit of interest
- Over the course of a year, you repay the whole loan
- If you find that you have extra cash, you can repay the whole thing or part of it early at no extra cost! That will enable you to save on interest.
What are the loan terms?
- New customers will receive up to £500. Existing customers will receive up to £1250.
- Loans are typically just under a year in duration. Remember, you can always repay early at any time with no penalty.
- Repayments are typically made monthly, on your paydates.
Personal loans applications can be confusing, however Pounds to Purse can help make this process simpler.