We’re delighted to announce Salary Finance as a new ULHT staff benefit that could help reduce financial stress by making money matters simple. Salary Finance is now available to all permanent members of staff and provides the following:
- Borrow: employee loans repaid from your salary. An affordable loan could be used to pay off expensive debt and save you money. Representative Rate 9.9% APR (fixed).
- Save: savings with contributions made direct from your salary – helping you to save without the hassle
- Learn: tools and tips to help you manage money better.
- Advance: the ability to get paid when you need it, and more often than just on payday. This can help avoid short-term high-cost debt like using overdrafts, credit cards or payday loans.
- Help to save: this provides the option to earn bonus payments on your savings to encourage long-term saving and financial planning. If you save a maximum of £50 a month through this scheme, you could get up to £1,200 in bonuses over four years.
Take a look at the Salary Finance website to register your interest and start taking advantage of this new staff benefit today.
Important: This is an option, not a recommendation. United Lincolnshire Hospitals NHS Trust does not benefit from offering this service and all your communications will be with Salary Finance. Applications will be assessed to ensure the loan is appropriate and affordable for you. References to “Salary Finance” means Salary Finance Limited (acting as credit broker and servicer) and each of its associated and/or group companies, including Salary Finance Loans Limited (acting as lender).
© 2019 Salary Finance Limited. All rights reserved. Salary Finance Limited and Salary Finance Loans Limited are authorised and regulated by the Financial Conduct Authority (firm reference numbers: 758053 and 734585). Salary Finance Limited is registered as a small payment institution money remittance firm (firm reference number: 788485). For loan products, Salary Finance Limited acts as credit broker exclusively for associated company Salary Finance Loans Limited. The “Advance” product is not a regulated lending product. Salary Finance Limited and Salary Finance Loans Limited are registered in England & Wales (company numbers: 09677777 and 07643748) at One Hammersmith Broadway, London, W6 9DL. Data Protection Registrations: ZA152606 and ZA099501.
From Wednesday 14th September 2022, our loan APR range will move from 3.9% – 19.9% APR, to 3.9% – 24.9% APR. Our Representative APR will stay the same at 9.9%, meaning 50%+ of employees will get the same interest rate or lower. Employees who will see a price increase are those with lower tenure and where they have recently missed other credit payments. The risk to SF of these individuals leaving employment (and coming off salary deduction) and then not making repayments becomes high, and we factor in the cost through the higher APR. This price update only impacts new applications and not any existing loans.