Paying back the loan

A Budgeting Loan is interest free so you only pay back what you borrow.

The repayments will be taken automatically from your benefits. The amounts you repay are based on how much benefit you get and what you can afford.

You normally have to repay the loan within 2 years (104 weeks). If you stop getting benefits, you’ll need to arrange another way to repay.

Repayments if your benefits are paid weekly

Your loan amount Your weekly benefit Weekly deduction
£100–812 £57.90 £2.90 – £6.95
£73.10 £3.66 – £8.77
£87.50 £4.38 – £10.50
£102.15 £5.11 – £12.26
£109.30 £5.45 – £13.12
£114.85 £5.74 – £13.78
£300.00 £15.00 – £36.00

Repayments if your benefits are paid fortnightly

Your loan amount Your fortnightly benefit Fortnightly deduction
£100–812 £115.80 £5.79 – £13.90
£146.20 £7.31 – £17.54
£175.00 £8.75 – £21.00
£204.30 £10.22 – £24.52
£218.60 £10.93 – £26.23
£229.70 £11.49 – £27.56