Halifax is a leading British financial services firm, offering a wide range of financial products & banking services. Amongst its services, Halifax Personal Loan stands out as a popular service preferred by hundreds of customers.
The Halifax Personal Loan is an inclusive and balanced personal loan offering a wide range of features. The loan is also easy to apply for and comes with favourable borrowing terms. In fact, the interest rate charged by Halifax for personal loans is also highly competitive.
In this article, we will give you a detailed overview of the features of the Halifax Personal Loan including eligibility conditions, interest rates, and fees chargeable. Later in the article, we will also show you the steps you need to take in order to apply for the Halifax personal loan.
Features & Benefits of Halifax Personal Loan
The Halifax Personal Loan comes with a whole host of unique features. Take a look at some of our favourite features below.
No Unnecessary Charges for Extra Payments
One of the best things about the Halifax Personal Loan is the flexibility that it provides to the borrower. With a Halifax personal loan, you can make anytime payments anytime and the company will not charge you extra for it. This is a facility that proves to be really useful throughout the life cycle of a personal loan.
Take a Break from Repayments
One step further, you can even take a break from your repayments of the personal loan with Halifax. Two such repayment holidays are allowed per year. This way, you can easily sail through the rough patches of the year, and your loan repayment period will be extended easily.
Easy Processes & Seamless Tracking
Halifax has put in place easy and simple processes allied with its personal loan offering. Using the online tools offered by the company, you can apply for a personal loan easily and also get complete support and assistance after the loan has been sanctioned. You can track your repayments calendar, due dates, the interest rate applicable, and more.
How to Apply for the Personal Loan?
Applying for a personal loan with Halifax is a simple and straightforward process, which does not take much time to complete.
Step 1: Complete the Application Form
There is a short and crisp application form that demands a few basic details along with your financial history. You can access the form on Halifax’s official website for the personal loan.
Step 2: Get a Decision on your Application on the Spot
Once you submit your application, the automated system analyses your data and
Step 3: Get the Money Transferred Instantaneously
If your personal loan application is approved, the requisite money will be transferred to your bank account almost instantaneously. It is quick, easy, and simple!
Fees and Interest Rates
The Halifax Personal Loan is pretty liberal when it comes to charging fees and interest rates. For example, a 3.5% representative APR is chargeable on loan amounts between £7,500 and £25,000 over a 1 to 5 year loan period.
Pro Tip: You can make use of the Loan Calculator tool available on the official website to quickly calculate the interest rate applicable and monthly instalments for different combinations of the loan amount and the repayment period.
Eligibility Criteria
To be eligible for the Halifax personal loan, you need to fulfil the following eligibility criteria.
- You should be older than 18 and a British resident
- You should have a regular source of income
- You should not be a full-time student
- Your loan application must not have been rejected in the last month
- You should not have a history of bad credit
Contact Details
Head Office Address
The Mound,
Edinburgh EH1 1YZ
Telephone
0800 028 3258
The Bottom Line
The Halifax Personal Loan is certainly an impressive offering. It is a flexible and customer-centric personal loan that can fulfil a majority of your financial needs. So, if you are looking for a personal loan, the Halifax Personal Loan is a good choice.
Please Note: There are risks involved when applying for and using credit products. Consult the company’s terms and conditions page for more information.