Hitachi loans calculator and 2020 review

With its simple application process and quick payment times, Hitachi Personal Finance is a regular winner of the Your Money UK’s Best Direct Loan provider award. Proudly stating “We are not a bank”, it aims to put the “personal” back into “personal finance”. We’ve put together a page to check out what all the fuss is about.

Calculate the cost of a Hitachi loan

How much do you need to borrow? £

10000

How long do you need to borrow for?

3

years

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Name	Product	Total Payable	Monthly Repayment	Representative APR	Link
Hitachi Personal Finance Hitachi Personal Loan					Check eligibility View details	Representative example: Borrow £10,000.00 over 3 years at a rate of 3.2% p.a. (fixed). Representative APR 3.2% and total payable £10,493.64 in monthly repayments of £291.49.	Compare	loading Fetching your data...

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What is Hitachi Personal Finance?

Hitachi Personal Finance started out over thirty years ago providing manufacturers with innovative finance solutions. It now lends to UK borrowers too, with the mantra of keeping things as simple for you as possible. Call it Japanese minimalism if you like! Whether you’re buying a car, making home improvements, or celebrating a special event, Hitachi have a competitive loan that could get you there sooner.

Our calculator lets you pick how much you want to borrow, over a timeframe that suits you, to estimate how much you would pay back each month and overall. We base our calculations on Hitachi Personal Finance’s representative APR, but it’s important to note that credit is subject to status, and the actual rate you are offered will depend on Hitachi’s assessment of your circumstances.

Key features of Hitachi personal loans at a glance

Hitachi personal loans come with a fixed rate – meaning your monthly repayment figure won’t change throughout the term of the loan, and you’ll know in advance how much the loan is going to cost you overall. Here’s a quick overview of the loan:

Am I eligible for a Hitachi personal loan?

You should only apply for a Hitachi personal loan if you’re certain you can meet the repayment terms, and you meet the following criteria:

• You are aged 21 or over
• You have a bank or building society account
• You are a permanent UK resident (and have been living in the UK for at least 12 months)
• You are in permanent paid employment, self-employed or retired with a pension
• You have a good credit history

How can I apply?

One of the best things about Hitachi personal loans is the super-simple and quick application process. A decision on your application is usually made immediately. Before you start, have these personal details ready:

• Annual income
• Employment details
• Bank account details
• Last 5 years’ address history

Once your loan is accepted, Hitachi will have the money to you within 48 hours.

Alternatively, you can also apply by phone if you call 0343 351 9112, although this may take a little longer.

Frequently asked questions

• Can I withdraw from a Hitachi loan?

  Yes, Hitachi gives you 30 days from the day a loan is accepted to sign the loan agreement. If you don’t sign the agreement in this time, you will automatically be withdrawn from the loan and will have to start the process again.

  Once you have signed the agreement, there is a further 14 day cooling off period when you can decide against the loan, and cancel by calling the Hitachi customer service team on 0344 375 5500. You must then return the full sum of money within 30 days.

  During the course of the loan, Hitachi doesn’t charge a penalty for early repayment or overpayment, however you should check the terms of your specific loan offer to see if you can save money on interest by doing this.

• Will I need to sign a paper agreement?

  No, if you complete your application online, you can e-sign the loan agreement, making the whole process of getting your loan paper-free.

• If I already have a Hitachi loan, can I borrow further money from Hitachi?

  That depends on the status of your current loan and on your eligibility, but Hitachi does sometimes offer existing customers “top-up” loans, which you can arrange by calling the loans team on 0343 351 9112 or by emailing loansteam@hitachipersonalfinance.co.uk and arranging a callback.

• When will I hear about the outcome of my application?

  A decision should be instant once your application has been submitted, although in some cases some extra information may be needed.

• Do Hitachi offer preferential rates or discounts for new or existing customers?

  No, Hitachi doesn’t currently offer preferential rates.

• Does Hitachi charge an application fees

  No, Hitachi does not charge n application/arrangement/product fee.

• What does a credit search involve?

  If you apply for a loan through Hitachi, it will conduct a search of your credit file via a Credit Reference Agency in order to assess your past and present financial commitments and their payment history. A record of Hitachi’s searches will be shown on your credit file, so that other lenders are aware of Hitachi’s requests.

• Does Hitachi offer joint loans?

  No, Hitachi does not currently offer joint loans.