Frequently Asked Questions - FAQs

To be offered one of our loans, you’ll need to fulfil the following eligibility criteria

• You are aged 18 or over.
• In permanent employment with an NHS trust.
• You aren't currently serving your probation or notice period.
• You have not been registered as insolvent in the last 6 years.
• You are not currently in any form of debt management plan including an Individual Voluntary Agreement (IVA) / and Trust deed or, within the last year, have experienced any form of bankruptcy, sequestration or DRO (Debt Relief Order).
• You are not suffering from any illness or addiction which would mean that borrowing money would be likely to cause you harm. While many forms of addiction exist, alcohol, drugs, and gambling are the most common, and all of these can lead to personal, health, and financial harm (including becoming over indebted or spending too much).

• We offer loan periods of 12 or 18 monthly repayments.

• You can apply to borrow between £500 and £1000 for each loan you have with us.

• We may be happy to lend to you again once we have seen how you manage your first loan.
• You will be able to see in your ‘my account ‘page whether you are eligible to apply for another loan.

• When you apply for a Salad loan, we will carry out an affordability check using information we collect securely (with your permission) from your bank.
• We will not make a credit search. Applying to us will not harm your credit rating.

• Open Banking is a secure method for sharing your financial information.
• It works by connecting to your online banking service. It doesn’t allow anyone to make payments from your account or make any changes.
• It’s the digital equivalent of giving us your printed bank statements and won’t affect your credit rating in any way.
• You'll never be asked to give your login details to anyone except your bank, We use the data to decide if you can afford our loans, and to measure customer outcomes.
• Our affordability check is done on our behalf by Credit Kudos, our open banking partner, who are regulated by the Financial Conduct Authority.

• Once you have signed your loan agreement, your money will be deposited in your bank account on the next day by around noon.
• The day starts and ends at midnight, so, for example a loan agreed at 1am on a Friday morning will be paid out by noon on Saturday.

• One-time pass codes are issued automatically by our system. If you have a problem, please check the mobile phone number you gave us was correct and that your phone is switched on. If you still have issues, please call us on 0203 092 0896. We are available to take your call between 9 and 5.30 Monday-Friday.

• Yes. If you do not agree with the decision that we have made on your application, you have the right to appeal.
• You should support your appeal by providing any additional relevant information that was not considered at the time of our original decision. We cannot give any assurances that our original decision will be overturned. Please email help@saladmoney.co.uk.

• Repayments are made by Salary Deduction or via direct debit, dependent on our relationship with your Trust.

• No. The period over which you repay us is fixed. However, if you would like to, you can pay your loan off at any time without incurring any fees or charges.
• If you pay your loan off early, you may reduce the amount of interest you need to pay.

• If you think you will have a problem with making payments to us, please contact us straight away on 0203 092 0896. We are open Monday-Friday 9-5.30 or email us at help@saladmoney.co.uk

• Your regular payments are fixed throughout the term of your loan.
• You can settle your loan if you want to at any time or make additional payments.
• If you think you will have a problem with making payments to us, please contact us straight away. You can email us at help@saladmoney.co.uk or call us on 0203 092 0896.

• Yes, you can settle your loan at any time during the loan term.
• We will not charge you any fees or extra interest and you may be entitled to a rebate of some of the interest you have paid, depending on when you settle your loan.
• You can find out how much you need to pay us by checking your account on-line.
• You can pay at any time via your bank's telephone and on-line services.
  Our bank details (for phone or on-line banking payments) are set our below:
  
  Our sort code: 60-83-01 Our account number: 20406752
  
  Please make sure you use your loan account number as the payment reference.
• The settlement amount will include any interest rebate we must give you.

• Yes, you can make additional payments to your loan.
• You can pay at any time via your bank's telephone and on-line services.
  Our bank details (for phone or on-line banking payments) are set out below:
  
  Our sort code: 60-83-01 Our account number: 20406752
  
  Please make sure you use your loan account number as the payment reference.
• If you make an additional payment we will reduce the future monthly repayment amounts. The number of repayments will stay the same.

• The full terms and conditions you agree to are shown to you on-line before you agree to your loan. They are always available to you to see in your on-line account.

• Our on-line calculator can give you an example of what your monthly payments could be for your preferred loan amount. You will be able to see the interest rate you will pay and the total amount you will have to repay.

• The total amount of your loan includes both the amount you borrowed from us and the total amount of interest charged for the loan until the end of your chosen loan term.
• The interest payable over the term of the loan is worked out by applying the interest rate to the amount you borrowed so, we can tell you how much you will need to pay us each month.

• If you leave your employer, we'll collect your future loan repayments by Direct Debit. We will use the details you gave us when you set up the loan.
• We won’t charge you anything to do that.
• Your interest rate and monthly payments will stay the same.
• The date we collect payment from your Direct Debit will on or about the 1st of the month.

• If you wish to obtain copies of your loan documentation and statements, just log into your 'My Account' where all these documents are available for you. If you are unable to log into 'My Account' please call us.

• You can call us
  on 0203 092 0896
  We are open 9-5.30 Monday-Friday and your call will be charged at National Rate.
• email us
  help@saladmoney.co.uk
• Write to us
  Salad Money
  49 Greek Street
  London
  W1D 4EG

• The way to change your address details is by calling us.
• It’s important that you keep us informed if you change your address. It is a legal requirement that we send your annual statement to your last known address, so by keeping us informed when you move home you can help ensure that this sensitive information reaches you as intended.

• We use the personal data we collect for several reasons, including but not limited to, providing our loan service, improving our products and service and for other legitimate business interests. More detail can be found in our Privacy Policy.
• If you want us to provide additional information about the personal data, we hold about you, you can make a Data Subject Access Request. In such cases we may ask you to specify the data you would like us to provide so we can better deal with your request. We will not charge you a fee for this. Please email us at help@saladmoney.co.uk If you wish to make such a request.