ASDA Personal Loans FAQs

What information do I need if I want to apply for a ASDA Personal Loan?
You will need the following to hand:

  • Your address details for the last 3 years
  • Your employer's name and address
  • Your monthly income and outgoings
  • Your bank/building society details

How much can I borrow?

You can borrow any amount between £7,500 and £25,000.

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What if I need to borrow less than £7,500?

You can borrow £3,500 to £7,499 at 12.9% APR Typical with the ASDA Little Loan. It's as quick and easy as the ASDA Personal Loan. Click here to find out more.

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When will my first payment be?

If you have chosen to pay nothing for the first three months your first payment will be due two months and 28 days after the date your loan account is opened. If you chose to start making repayments straight away your first payment will be taken 28 days after the date your loan account is opened. A welcome pack will be sent to you which will detail the date your first payment will be taken.

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Can I top-up my ASDA Personal Loan?

You can top up your ASDA Personal Loan as long as you meet our lending criteria. Give us a call on 0800 915 2260† (Calls may be monitored and recorded for quality and security purposes) for more information.

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Do you charge a set-up fee?

Good news, we don’t charge you a set-up fee for your ASDA Personal Loan.

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What is your early redemption penalty?

You will be charged up to 2 months worth of interest should you choose to settle your ASDA Personal Loan early.

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When will I get a decision?

Once you have provided us with all the application details, we will conduct a credit check and get back to you quickly with a decision.

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I have been declined, can you tell me why?

When we consider your application, we rely on details provided by a credit reference agency. We use the credit agencies Experian and Equifax as well as our own credit scoring system. In the case of a decline, we will send you details of how credit scoring works. To see a copy of your credit file, send your name, your addresses for the last six years and a cheque for £2 to: Experian Ltd, P.O Box 8000, Nottingham NG80 7WF. You could also write to our credit reference agency: Equifax LTD, Erskine House, 1 North Avenue, Clydebank, Glasgow G81 2DR.

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I have signed and returned my ASDA Personal Loan documents, but the funds have not arrived in
my bank account. How long does it usually take?

The money will be in your account within 5-7 working days unless you use our courier service in which case we will aim to have the money in your account in 48 hours* if your application is approved between 9am and 4.30pm Monday to Wednesday (excluding Bank Holidays).

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How can I find out how much is outstanding on my ASDA Personal Loan?

Just contact us on 0871 522 5311 (Calls may be monitored and recorded for quality and security purposes. Calls cost 10p per minute plus network extras). Lines open Monday to Friday 9am to 8pm and Saturday 9am to 5pm.

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What happens if I want to settle my ASDA Personal Loan early?

To settle your ASDA Personal Loan early just call us on 0871 522 5311 (Calls may be monitored and recorded for quality and security purposes. Calls cost 10p per minute plus network extras. Lines open Monday to Friday 9am to 8pm and Saturday 9am to 5pm) and we can provide you with a settlement figure. You can then send a cheque or arrange for a bank transfer. We can also accept card payments with a maximum payment of £1,000 per day.

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Can I make extra payments to my ASDA Personal Loan?

Unfortunately not, under the terms and conditions of the agreement extra payments over and above the fixed monthly payments are not permitted.

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How do I get my cash in 48 hours?*

To take advantage of our cash in 48 hours courier service, your loan must be approved between 9.00am and 4.30pm Monday - Wednesday, excluding Bank Holidays. If you choose to use the courier service and your loan is approved outside these times your cash will be available within 3 working days.

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What is the cost of the courier service?

The courier service costs £30 if you choose to have your documents delivered inside one of the following timeslots; 8am - 12pm; 12pm - 6pm; 6pm - 8pm. If you would like to choose a specific delivery time this will carry a cost of £50 and delivery will be 30 minutes either side of your chosen time, for example if you choose to have your documents delivered at 4pm, they could arrive with you between 3:30pm and 4:30pm.

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When is my courier fee taken from my account?

Your courier fee will be collected by Direct Debit 28 days after your funds have been transferred.

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How do I take out ASDA Personal Loan Insurance?

You can take out ASDA Personal Loan Insurance when you apply for your ASDA Personal Loan, either online or over the phone on 0871 522 5311 (Calls may be monitored and recorded for quality and security purposes. Calls cost 10p per minute plus network extras). Lines open Monday to Friday 9am to 8pm and Saturdays 9am to 5pm.

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What does my ASDA Personal Loan Insurance cover me for?

ASDA Personal Loan Insurance covers your repayments under the following circumstances:
  • Gold policy – critical illness and if you are not at work due to disability or unemployment#
  • Silver policy - if you are not at work due to disability or unemployment#
  • Bronze policy - if you are unable to work due to disability#

All levels of ASDA Personal Loan Insurance includes life cover which could pay off your ASDA Personal Loan in the event of your death.

# Terms and condtions apply

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How long am I covered for?

Your cover runs alongside your credit agreement until: it is cancelled; your credit agreement ends; or you die, whichever happens first.

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How much does my ASDA Personal Loan Insurance policy cost?

The cost depends on the amount borrowed and the term of the ASDA Personal Loan. For more information, call 0871 522 5311 (Calls may be monitored and recorded for quality and security purposes. Calls cost 10p per minute plus network extras). Lines open Monday to Friday 9am to 8pm and Saturdays 9am to 5pm

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How do I find out more details on my ASDA Personal Loan Insurance policy?

You can either download the full ASDA Personal Loans Insurance policy or give us a call on 0871 522 5311 (Calls may be monitored and recorded for quality and security purposes. Calls cost 10p per minute plus network extras). Lines open Monday to Friday 9am to 8pm and Saturdays 9am to 5pm.

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Who provides my ASDA Personal Loan Insurance policy?

The loan insurance for disability, unemployment, critical illness and accidental death is underwritten by Financial Insurance Company Limited registered in England No: 1515187. The Insurance for life cover is underwritten by Financial Assurance Company Limited registered in England No: 4873014.

Both Financial Insurance Company Limited and Financial Assurance Company Limited are limited by shares and their registered offices are Building 11, Chiswick Park, Chiswick High Road, London, W4 5XR.

Financial Insurance Company Limited and Financial Assurance Company Limited are authorised and regulated by the Financial Services Authority.

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What happens if I stop working?

If you permanently retire and have no intention of returning to work, you will no longer be eligible for disability, unemployment and critical illness benefits (depending on the cover you choose), but may still claim life and accidental death benefits. For more information please call us on 0871 522 5311 (Calls may be monitored and recorded for quality and security purposes. Calls cost 10p per minute plus network extras). Lines open Monday to Friday 9am to 5pm and Saturday 9am to 5pm.

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What are the age limitations?

You must be 24 years old or above to apply for an ASDA Personal Loan, however you must be aged under 65 to be eligible for insurance cover.

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How do I request an ASDA Personal Loan Insurance claim form?

You can request a claim form by calling the Insurer on 0870 400 4713 (Calls may be monitored and recorded) or write to them at Financial Insurance Company Limited, Building 11, Chiswick Park, Chiswick High Road, London, W4 5XR.

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How long will my claim take?

After calling, the relevant claim form will be sent to you within three days. Once you have completed this form you must return it within 120 days of requesting it. The Insurer will then make a decision on your claim within five days of receiving the form and notify you in writing. All claims will be backdated. The date the claim is backdated to will depend on the exact circumstances of your claim.

If the claim is valid it will be paid at the same time the letter is sent out and should reach your loan account within two working days.

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After I have made a claim do I have to continue to make payments on my ASDA Personal Loan?

You should continue to make your regular payments until your claim is accepted. If your claim is accepted then the Insurer will pay out after every 30 days that you are off work with the money going directly into your loan account.

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How is my claim paid?

Payment will be made directly into your loan account.

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Can I cancel my ASDA Personal Loan Insurance policy?

If you are not happy with the cover there is a 30-day cooling off period in which you can cancel the policy at no cost to yourself. Thereafter you may cancel the policy by giving 30 days notice in writing. We may at our discretion refund part of your premium (provided you have not made a successful claim). Your policy does not have a surrender value.

If you wish to cancel your cover please call us on 0871 522 5311 (Calls may be monitored and recorded for quality and security purposes. Calls cost 10p per minute plus network extras). Lines open Monday to Friday 9am to 8pm and Saturday 9am to 5pm. Or write to GE Capital Bank Ltd, PO Box 700, Leeds LS99 2BD.

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How do I make a complaint on my ASDA Personal Loan Insurance policy?

We set ourselves high standards, but if you are not satisfied with the service you have recieved please follow the procedure set out below and your complaint will be dealt with in the most effective way possible.

In the first instance please contact: The Company Secretary, Financial Insurance Company Limited, Building 11, Chiswick Park, Chiswick High Road, London, W4 5XR.

Alternatively you can telephone Financial Insurance Company Limited on
0870 400 4870 to be directed to an appropriate person. You should give details of the policy number or claims reference number to help you with the speedy handling of the enquiry.

After this action, if you are still not happy or the problem has not been resolved to your satisfaction, you may refer it to: The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone 0845 080 1800.

If you complain it will not affect your legal rights.

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I clicked the apply button and nothing happened?

Your browser may be set up to prevent "pop-ups" (new windows launching from the existing window). Simply change your browser settings to temporarily allow "pop-ups" from this site and you should see the new window and be able to continue with your application.

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Why does it say "opens in new browser window" underneath the buttons?

This is to let you know that you may need to set your browser to temporarily allow "pop-ups" from this website in order to follow the link.

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You can also apply by calling 0800 915 2260

† Calls may be monitored and recorded for quality and security purposes. Lines open 9am to 8pm Mon – Fri, 9am to 5pm Sat, 10am to 4pm Sun.

#Taking out a 3 month repayment holiday increases your monthly repayments as interest is incurred from the start of the loan.

* Cash in 48 hours is only available when approval of your application is given between 9am and 4.30pm Mon - Wed, excluding Bank Holidays. In the event that the credit application is referred, provided acceptance is obtained between 9am and 4.30pm Mon - Wed then the cash will be delivered within 48 hours. For applications outside these times your cash will be delivered within 3 working days. The courier service is chargeable at £30 for one of the following timeslots; 8am - 12pm; 12pm - 6pm; 6pm - 8pm. For a specific delivery time of your choice, a cost of £50 applies: delivery will be 30 minutes either side of your chosen time. Relevant proof of ID must be shown to the courier before the loan is completed. The courier service is not available in Northern Ireland and the Highlands and Islands of Scotland. If you don’t choose our courier service your money will be available in your account in 5-7 working days.

^ The rate you will receive will depend on your personal circumstances at the time of application. Terms and conditions apply. Credit provided by GE Money a trading name of GE Capital Bank Limited, 6 Agar Street, London, WC2N 4HR. Registered in England. Company No. 1456283. Retailer is ASDA Stores Limited, Registered in England No. 464777. Registered Office: ASDA House, Great Wilson Street, Leeds LS11 5AD. Credit is subject to status to UK residents aged 24 years old and above. Not available to residents of the Isle of Man, Jersey or Guernsey.

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