Interest Option
Interest Option loans attract customer interest in a similar way to an Interest Bearing loan. Setup over a fixed period with an agreed APR; the customer has the option to settle the loan within the option period and have all interest paid deducted from the settlement figure.
How it works for the customer
- APR at an agreed rate is applied
- Repayments start approximately 1 month after delivery of goods/services
- Option period is allocated
- If the customer settles within the option period they do so interest free
- There is no obligation to settle the loan early, the customer can simply continue to make their loan repayments on a monthly basis.
How it works for you
- We offer a range of payment and deferral terms for Interest Option on purchases between £500 and £25,000.
- Dependant on the rate of APR used a subsidy or a commission can be applied.
