|Loan type||Unsecured personal loan|
|Loan amounts available||£1,000 – £25,000|
|Loan terms available||24 – 60 months (2 – 5 years)|
|Age eligibility requirements||Minimum 21 years old|
|Access for lower credit scores||Potential options available|
|Chance of acceptance available||No|
|Loan pay out time after approval||2 working days|
|Early repayment options||Yes|
Who is Novuna?
Novuna is a financial company offering a wide range of services, from retail finance to personal loans. They have been recognised for their services and skill with multiple awards, and you can see if they are right for you with a quick check.
How much can I borrow with a personal loan from Novuna?
Loans available with Novuna will range from £1,000 to £25,000, and they can be set across a range of repayment plan timelines. Any specific offer made to you will be dependent on your credit history and your personal circumstances.
What interest rates are offered by Novuna?
Novuna use real rates to help you make the right decision. These rates will allow you to make the best decision possible for your finances, and choose the loan option that is right for you. The specific rate you are offered may change with your credit score – a healthier score may mean that you are offered a lower APR. This would reduce your monthly repayment amounts.
If you have had some challenges making repayment dates in the past, or if you have rarely used credit and haven’t built up a strong credit score, you may find that your eligibility changes or that you are offered higher rates. This is because your credit score may be showing you as a riskier person to lenders.
Need to give your credit score a boost? Check out our top tips for improving your credit score.
What can I use a personal loan for?
Personal can be used for almost anything you would need extra cash for in life. Popular uses for personal loans include:
- Going on holiday
- Funding a wedding
- Consolidating your debts
- Making home improvements
- Buying a new car
Who is eligible for a personal loan from Novuna?
The options available to you will depend on your credit score and personal circumstances. When lenders are assessing which options you are eligible for, they will look at how risky it is to lend money to you, so improving your credit score will make a difference to your eligibility for loans and the rates you will get.
Novuna also have their own eligibility criteria for personal loans. You need to:
- Have been a UK resident for at least the past 12 months
- Be at least 21 years of age, and no older than 70 at the end of your loan lifetime
- Have a UK-based bank or building society account, with the ability to pay direct debits
How quickly do Novuna pay out their loans?
Once the agreement is signed and returned, Novuna aim to pay out all loan values within two working days. Personal loans may be paid out faster than other loan types due to there being less paperwork involved in approving the agreement.
Can I pay off my loan early?
Yes, Novuna provide some options to allow for early repayments towards your remaining balance, or to settle the full balance early. These do not come with hidden fees, and any options will be set out in your loan agreement with Novuna.
Are there any added benefits to a personal loan from Novuna?
Novuna loans are just one part of the financial services offered by them. There are a number of advantages to taking out a personal loan from Novuna:
- Excellent customer service from an award winning financial service provider
- Quick loan application and short pay out times
- Options available to make early repayments without penalty
- Broad options of repayment amounts and timelines to help fit your needs
How do I check my eligibility for Novuna personal loans?
With Aro’s eligibility checks, we can show you your potential options for personal loans. This includes options with Novuna and over 50 other lenders, all without harming your credit score. Simply fill in your details and we’ll do the rest.
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