When you see low APR loans advertised by the likes of high-street lenders, credit card companies, payday loan companies and even big name credit cards, it always helps to read the fine print very carefully. If you do you may well find out that these low APR loans are not as affordable and available as they first seem to be.
Many lenders, for example, advertise an attractive headline rate but then only have to provide these low APR loans to 51% of the people applying for that loan, with the rest charged interest at a much higher rate. In addition to this, many lenders charge additional fees which are hidden in the small print of a loan agreement, or may even penalise you if you’re lucky enough to be able to pay the loan off more quickly than you’d intended to.
Finally, when you’re considering taking out what appears to be a low APR loan it’s well worth your while sitting down to calculate exactly how much you’ll have paid back once all the payments have been met. On many occasions you’ll be surprised to discover just how much so called low APR loans can actually end up costing you.
None of this applies when you take out one of the genuinely low APR loans offered by PCCU. In the first place, we are non-profit making organisation, so we don’t have to bring in money from our borrowers to create a surplus and fund bonus payments or share dividends. In addition to this the fact that we are an ethical lender means that our low interest loans are provided in a completely transparent manner. The interest rates that we advertise are the only rates we charge, and you won’t find any hidden fees or charges in the small print. To put it simply, what you see is what you get, and that means low APR loans to pay for anything you need help with.
As winter turns to spring that may well mean taking out one of our low APR loans to pay for your holiday. Whether you’re flying to sunnier climes or planning a ‘staycation’ at the British seaside, you can borrow the money you need safe in the knowledge that you’ll be able to make the repayments. That’s because we won’t lend you more than you can afford to pay back, and we’ll set up a repayment plan that you’re able to meet.
Applying for our low APR loans is a quick and simple process, and once you’ve given us all the information we need we’ll try to make a decision in just two working days. If the loan is approved we’ll transfer the money straight into your account, leaving you free to book that holiday, buy that car or consolidate existing debts. Whatever you use the money for you’ll have the comfort of knowing that our low APR loans are genuinely good value, and that we’ll always work to keep them that way.