Has PayPal Credit been explored when considering this product? I know, PayPal are the devil and everything, but 0% for 4 months makes 15% for 3 months look insane.
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+1 to this. Or do you need to contact support and ask for an ‘early settlement quote’ which is generally slightly less than if you went full term and is dependant on how many remaining months you have.
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Have you considered fixed fee loans like overdrafts?
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Not that I’m impatient but any updates? 
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Had a look at this thread as I’m currently in the market for a new laptop. (Note to self - don’t buy one with a built in disc drive - you made that mistake last time). Spent too much of my savings on holidays.
However, just seen the interest rate - for me 15% is too high. Instead 28 month purchase offer with Barclaycard - sorted.
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For those that signed up for the test keep an eye out on your app as I got this today 
Some of the screens for the loan look like this:
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Can’t wait need to buy me some new tings
Looks good, simple to understand.
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I’ve never taken a loan out before but I like the payment schedule and the clear amount of interest you have to pay back.
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How many stages from start to finish? What are the t&cs like?
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Very few there is about 3 screens, from beginning where you select the amount you need for the loan, then the what you should know screen, it goes to the T&C’s which are simple and easy to understand and once you select agree I’m assuming you get the loan added to your account (Not doing it yet as I’m not sure how much!)
The T&C’s screen:
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One concern I would have is around the reporting of the loans to credit reference agencies. It is often said that having short term loans on your credit history can restrict your ability to get a mortgage. Are the loans here reported in a similar way to those from payday loan companies?
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Not sure I like that wording “within 1 day after you apply”
Within 1 day of application on within 1 day of applying? Probably just me 
Nice and clear though
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Good to see loans are being tested (missed the option to sign up to test 
) but is the apr in the screen shots typical? Seems pretty high.
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For a small loan it seems ok, I guess. I know First Direct are like 18% for sub-£5000 loans.
I’m going to wait until the 1st of the month to take out a loan, to make sure that I have money in my account for the repayments - which are scheduled to be taken on the date of the month when you take out a loan. But here’s a few quick bits of feedback:
- It’d be useful to see the APR translated into pounds & pence for each month - I’m comparing that cost to the cost of using my overdraft so it would be good to see how different / how much better the cost is. I can work that out, based on the ‘plus £X in interest’ divided by the duration of the loan but I’d rather not have to.
- When we’re able to take out the loan from the detail screen of a particular transaction, that’ll feel a lot more natural vs starting the application process from the Account tab because the amount for the loan will be populated automatically & it saves me navigating from the transaction to a different part of the app
- I’d like to be able to set a date of the months for the repayments to be taken, regardless of when I take out the loan
- it’d be good to be able to spread the cost over more months but I know that, that’s on the way
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Nothing showing for me yet… 
Mind you 3 months to pay something back, may as well just by it outright.
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why no one asks you to test stuff 
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Valid though. I think 6-12 month durations seems more likely. But then I guess it’s a good option should, say, your boiler suddenly dies and you need to replace it.
lol I have it now 
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