A glance at the AA loan rates
AA Loans : The AA Member Loan has a 9.9% APR on loans between PS3,000 to PS4,999. Applicants can borrow between PS1,000 and PS25,000 and AA will offer a loan with a repayment term of 1-7 years.
What is the AA?
The Automobile Association (AA), a British institution that has provided support to its members since 1905, is something you might have missed. The AA provides financial services, including insurance and savings, as well as driving lessons and breakdown coverage.
AA loans can be obtained from the Bank of Ireland UK. AA Financial Services Ltd, a credit broker, is not a lender.
The AA website allows you to apply for a personal loan. In most cases, you will get a decision within minutes. Anyone can apply for a personal loan, but members of AA may be eligible to receive exclusive rates. Keep in mind that “AA Breakdown Member”, is a customer who has arranged coverage directly with the AAA. If you are not eligible for AA breakdown as part of a partnership program with a bank or vehicle manufacturer, it will be denied.
The key features of an AA personal Loan
Personal loans from AA are available for periods of 1 to 7 years in 6-month increments. You can also apply for amounts between PS1,000 and PS25,000 in increments of PS100. Rates will vary depending on your income and credit score. However, you can use our loan comparison table to get an idea of the best rates.
Are I eligible to receive an AA personal loan
While you don’t need to be an AA Member to apply, you must meet the following requirements:
- Must have been a UK resident at least three years.
- You must be at least 21 years old and not older than 70 by the end of the loan term.
- Regular income of more than PS12,000 per year. You must be self-employed for at least 2 years.
- A good credit rating is possible without having a history of bankruptcy or County Court Judgment.
- Direct debits are possible from a UK-based bank or building society.
- You must ensure that you are able to pay the monthly repayments. Missed payments can result in a penalty and may have serious consequences for your ability to get credit in the future.
- How do I apply?
You will need to prove that you are eligible for an AA personal loan.
- Your ID.
- The details of your address for the last three years.
- Current income and details about your employment (payslips, bank statements)
- Simply fill out the application via their website. Also, you will need your bank account number or sort code.