Frequently Asked Questions

Who can apply for a personal loan?

What does representative APR mean? Is that the rate I will actually qualify for?

All lenders in the United Kingdom are required to clearly display Representative APR on any marketing materials, including the website. The Representative APR is what 51% of consumers who enter into a credit agreement with the lender will receive. The rate that you qualify for will depend on several factors, including your credit rating and the information submitted in your application.

What can I use my loan for?

If approved, you can use your On Stride Financial loan for a variety of reasons, including making repairs to your car, home improvement projects and much-needed weekend getaways.

How much can I apply for?

Both first-time customers and existing customers can apply for up to £3,000. Whether you are approved and for how much will depend on your credit rating and the information submitted in your application.

How long can I repay my loan for?

We offer loan repayment terms of 1 or 2 years. Remember, you can always repay the loan off early, either in full or in part, with no early payment fees.

Are there any application fees for arranging my loan?

On Stride Financial does not charge any application fees for arranging your loan. In fact, we don’t charge any late fees either!

Does On Stride Financial offer secured loans?

At this time, On Stride Financial only offers unsecured personal loans, but may be adding more products in the near future.

What happens if I’m unable to repay my loan?

If you’re unable to repay your On Stride Financial loan for whatever reason, call our customer support center at 0800 210 0925 as soon as possible so we can arrange a payment plan that works best for you.

What happens if I miss a repayment? Will I be charged a late fee?

If you miss a repayment, call our customer support center at 0800 210 0925 as soon as possible so we can help you get back on track to repaying your On Stride Financial loan. And don’t worry — there are no late fees at On Stride Financial.
Missing payments can make it more difficult and/or expensive for you to obtain credit in the future if we report your default to credit reference agencies. In addition, if you default on your loan, we may commence legal actions and you may be required to pay us the reasonable expenses and costs we incur in these legal proceedings or in attempting to enforce our rights against you under the loan agreement.

Can I repay my loan early?

Yes, you can repay your On Stride Financial loan any time in full or partially, with no prepayment penalties.

How and when will I start repaying my loan?

Your due date will usually be your last pay date of each month, however, if you get paid more than twice a month, your due date may be twice a month. When you take a loan with us, you provide us with Continuous Payment Authority (CPA) permitting us to collect the amount due on each due date using the debit card you provide us.

What is CPA and how does it work?

Continuous Payment Authority (CPA) is a type of automatic payment that authorises a lender to withdraw sums from a borrower’s nominated bank account using debit card details, subject to specifically agreed terms which are fully disclosed and agreed through the loan application process. Once agreed by a customer, CPA allows a business to automatically take a payment or series of payments from a customer’s debit card on the customer’s payment date.

How can CPA be cancelled?

Customers can cancel their CPA with the bank or card provider or the company taking the payment. Customers advising the bank or card issuer that they have stopped permission for the payments should also notify us.
Customers may also cancel their CPA by contacting us directly either by phone or email and requesting to cancel their CPA. If you cancel your authority for the repayment of your loan with us, you will still be responsible for paying any money that you owe, including any charges which may accrue. An alternative means of repayment should be agreed.

Where can I get financial advice?

The National Debtline: A national telephone helpline for people with debt problems in England, Wales and Scotland. Their service is free, confidential and independent. Helpline: Available Monday-Friday 9am-9pm, Saturday 9:30am-1:00pm, closed Sunday. For England/Wales/Scotland Call: 0808 808 4000.
www.nationaldebtline.co.uk

Money Advice Service: Independent service set up by the government to help people make the most of their money. They give free, unbiased money advice. Money Advice Hotline: Available Monday - Friday from 8:00am to 8:00pm and Saturday from 9:00am to 1:00pm. For English, call: 0300 500 5000. For Welsh, call: 0300 500 5555.
www.moneyadviceservice.org.uk

What information do I need to complete the online application?

How does On Stride Financial work?

To learn more about how On Stride Financial works, please visit our How It Works page.

When will my loan be funded?

If your On Stride Financial loan is approved within business hours, your loan will typically be funded into your bank account the same day.

How secure is my online application?

On Stride Financial uses the latest security technology to ensure your personal information is protected, including Secure Socket Layer (SSL) encryption and McAfee SECURE™. We scan our website daily for malware, malicious javascript and suspicious redirections so your sensitive data remains safe and private at all times.

Portability

You have the right to access and download (port) your personal records and information. This information is limited to information you have provided us and certain information generated by your activities with us. To request your data be ported, you may log into your account and choose to download and send this data. This information will be prepared in a secure format and will then be available shortly after for download. In limited instances, certain data may not be provided upon request if that personal data concerns other individuals or if providing it would result in a release of information covered by our trade secrets or intellectual property rights.

Access

You have the right to access your personal records and information that we hold about you. For access to information provided by you or generated by your activities, you may log in to your account and choose to download this data. This information will be prepared in a secure format and will then be available shortly after for download. For a more complete list of data held about you, including data obtained from third parties, please email GDPR@onstride.co.uk with your request. Please note that this request may take up to 30 days to complete. In limited instances, certain data may not be provided upon request if that personal data concerns other individuals or if providing it would result in a release of information covered by our trade secrets or intellectual property rights.

Rectification

You have the right to update any outdated or inaccurate data held about you, and to complete any incomplete data held by us. You may update personal details or employment data by logging in to your account or by calling 0800 210 0923.

Objection to Processing

You have the right to object to processing where processing is based solely on our legitimate business interests.

If you are currently receiving marketing communications, you are able to change your preferences at any time by one of the following methods:

Via email: Click the "Unsubscribe" link in any email communication and submit your email address on the next screen.
Via the web: Update your subscription information in your account.
Via SMS: By following the unsubscribe link in your SMS communication.

If you object to our processing based on our legitimate business interests, please note that the processing shall cease only where your rights outweigh our compelling legitimate grounds for processing. You may request this right by emailing GDPR@onstride.co.uk.

Objection to Automated Decision Making

We use automated decision making as part of our fraud prevention identity verification. We may also use automated decision making in our credit underwriting process. This process takes into account customer stated data such as income, expense and employment information, as well as third-party data, such as credit reference data or published national household income and expense averages, to judge creditworthiness of an applicant and affordability of the requested loan. Such automation ensures that each customer is treated consistently and is evaluated objectively and allows us to make fair and responsible lending decisions.

Each loan is manually reviewed as part of our loan application process; however, you may still provide your opinion or contest the decision. You also have the right to object to the automated processing for direct marketing purposes. For automated processing requests, please contact us at Privacy@onstride.co.uk.

Erasure

We will delete or anonymise data when, in accordance with our Data Retention Policy, we no longer need to process it. If we anonymise data, we may continue to use it (in anonymised form) beyond periods specified in our Data Retention Policy. You have the right to request us to delete your data sooner for a number of different reasons, for instance, if it was unlawfully processed and you may do so by sending your request to GDPR@onstride.co.uk. We will review your request and respond within one month.

Restriction of Processing

You have the right to request us to limit the use your data for a number of reasons, including if you have requested we correct data about you, you have objected to our use of your data, and if you believe your data was processed unlawfully, or if you need us continue to store your data for legal reasons related to you. Please note that in the event you request restriction, we will continue to store it according to our Data Retention Policy. If you would like to request restriction please email GDPR@onstride.co.uk.