The Interest Option solution allows customers to save on the interest if the loan is settled early, otherwise paying an agreed interest rate over a fixed period.
- Interest applied at an agreed rate.
- Repayments start approximately one month after delivery of goods/services.
- Allocated option period.
- If payment is settled with the option period, no interest is payable.
- Otherwise, loan repayments are made on a monthly basis.
- A range of payment and deferral terms available for Interest Option on purchases between £500 and £25,000.
- A subsidy or commission can be applied depending on the amount borrowed.