Salad Money personal loans
With Salad Money, you can access a small personal unsecured loan, at a fixed interest rate, over a term of either 12 or 18 months. Salad Money Loans are only available to NHS or public sector workers.
One of the ways Salad Money differs from other lenders is the way you pay back the loan. While you can repay your loan in monthly instalments through a direct debit – as you would with most other loan products – if your employer is partnered with Salad Money, it is also possible to pay the loan back through salary deductions.
» COMPARE: Personal loans
How much can I borrow?
Salad Money loans are available in amounts from £500 up to £1,000.
If you take out a loan through Salad Money, you can then choose to repay it over 12 or 18 months.
What are the interest rates on a Salad Money loan?
As with most lenders, the interest rate you are offered by Salad Money will depend on your financial circumstances, how much you are borrowing, and for how long.
If your employer is partnered with Salad Money, it may be possible to get a lower interest rate than if your organisation is not partnered with the lender.
As Salad Money focuses on loans for borrowers with poor or limited credit history, you may find the interest rate higher than traditional lenders offer.
Can I get a joint loan from Salad Money?
At present, Salad Money does not offer joint loans. A joint loan is a form of borrowing where more than one person signs up for, and therefore is liable to repay, a loan.
Can I get a secured loan from Salad Money?
Currently, Salad Money does not offer secured loans. Unlike an unsecured personal loan, a secured loan requires you to put up an asset, such as your home, as collateral in order to be eligible.
» COMPARE: Secured loans