Personal Loan

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Interest Bearing Credit

Product overview

What is Interest Bearing Credit?

A personal loan on a fixed rate, over a fixed time that allows your customers to pay off their purchase in equal monthly payments:

  • Your customers repay through equal monthly payments over a set amount of time
  • The loan isn’t secured against the product purchased
  • Interest is added to each monthly payment
  • Customers can pay off the loan balance at any time but there may be an early settlement fee applied


Benefits for your customers

  • Enables customers to make larger purchases earlier
  • Useful for planning personal cash flow
  • Helps your customers plan their budget which can include improved product specifications
  • Fixed rate of interest to pay

Explaining IBC to your customers

Representative example

Item value (cash price) £1,200.00
Deposit £0.00
Total amount of credit £1,200.00
Duration of agreement 12 months
Representative APR 9.9% APR
Annual rate of interest 9.9% p.a.
12 monthly payments of £105.21
Total amount payable £1,262.52

Example is for illustrative purposes only

Who can apply?

To be eligible to apply for one of our finance products, your customers must be:

  • 18 years or over on the date of application
  • A permanent UK resident for a minimum of three years and either:
    • In regular, permanent employment working a minimum of 16 hours a week (including students)
    • Self-employed
    • Retired from regular employment and aged 50 years or older
    • In receipt of incapacity benefit

Subject to application, financial circumstances and borrowing history