November, 2018, London – Post Office Loans today announced that its short term loans are available with no constraint on credit scores. Most sought after loan product, 500 Pound Loans are the first to come with this promising change. However, the company already provide funds despite bad credit but for short-term loans, the approval decisions were case specific. Some used to get the approval while some not. Now, until and unless, the applicant does not have a worst credit score, there is no denial.
There is also a considerable decrease in the interest rates of the loans. As the short-term funding comes with no obligation, the interest rates are high, which make many people drop the idea to borrow funds. But determined to provide financial benefits to the maximum people, the company is now providing the loan on much lower rates despite no obligation. Not only this, the tenure too is friendly with the 500 Pound loan over 12 months. The borrowers take small amount but repay in a long tenure.
Grais Brown, the CEO of the company says – ‘We take the concern of the borrowers very seriously. Being a part of the next generation lending, we take it as our duty that the loan companies should make the more and more promising changes. If we talk about credit scores, it is something that everyone wants to keep as good as possible. Still sometimes situations happen and we fall prey to unfavourable financial circumstances. Nobody wants them to happen but you cannot have a control on your life always. Post Office Loans believe in futuristic thinking and strategies. This is why we provide our short-term as well as mid term loan products despite bad credit.’