Frequently Asked Questions - FAQs

Getting a loan

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 £300 and £700 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.

Making your repayments

  • When you take a Salad loan, we will not charge you any interest for the first 15 days. This means that if you pay us back before the end of that period, we will not charge you any interest.
  • We will only start to charge interest on your loan from the sixteenth day. Unlike some other lenders, we will never charge you interest for the interest free period even if you have not settled your loan by the end of it.
  • Repayments are made by salary deduction.
  • Your employer will not be able to see your loan details. They will only know what they need to send us on your behalf.
  • 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: 20-32-06 Our account number: 10627828

    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: 20-32-06 Our account number: 10627828

    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.

Contracts and Legal

  • 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.

Change of circumstances

  • 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.

Managing your account

  • 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
    6th Floor
    5 Merchant Square
    London
    W2 1AY
  • 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.

Data Protection

  • 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.

Complaints

We always aim to provide the highest level of service to our customers. But if we fail to meet your expectations in any way, we’d like the opportunity to put things right as quickly as possible.

We operate a simple complaints procedure and want to resolve any problem quickly and effectively.

If you have a complaint, please contact us:

Telephone
Call 0203 092 0896

Email us at:
help@saladmoney.co.uk

Or you can write to:

Salad Money
6th Floor
5 Merchant Square
London
W2 1AY

As soon as we receive your complaint, we’ll investigate the issue raised and try to resolve the matter as quickly as possible, either on the phone or by letter. Depending on the nature of the issue we may not be able to resolve it as quickly as we’d like to; if this is the case, we’ll keep you updated on our progress.

When we reply to your complaint, if you feel our response doesn’t fully address your concerns, please tell the person handling your complaint so we can see if there’s anything else we can do.

We always want to be able to resolve any concerns you raise with us, however where you’re not satisfied with the outcome, or if you’ve not received a reply from us within eight weeks of raising your complaint, you have the right to refer your case to the Financial Ombudsman Service:

Email: complaint.info@financial-ombudsman.org.uk

Call: 0800 023 4567

Write to:

The Financial Ombudsman Service
Exchange Tower
Harbour Exchange Square
London
E14 9GE