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Hitachi Personal Finance Loans

What loans does Hitachi Personal Finance offer?

Active for over 30 years in the UK, Hitachi offer personal loans in a range of amounts over varying term lengths

By Mehdi Punjwani

Published: 27 April 2021

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Owned by the Hitachi Capital Corporation, one of the largest non-banking financial institutions in Japan, Hitachi Personal Finance have been active in the UK for over 30 years. They have a range of loans on offer for a variety of purposes.

What loans can I get from Hitachi Personal Finance

Hitachi Personal Finance offers fixed-rate, unsecured personal loans that could be used to pay for a wedding, a new car, or even improvements to your home.

They offer a list of loan categories, including those for caravans, campervans and even boats.

Unlike with many other lenders, you are allowed to clear the debt early without financial penalty.

Hitachi Personal Finance also promise an instant decision when you apply online with no arrangement fees or other hidden fees.

What interest rate will I get with a Hitachi Personal Finance loan?

Hitachi Personal Finance loans come with a fixed interest rate, which means the amount you pay back every month towards your loan balance will stay the same.

This can make it easier to manage your monthly payments as the amount you have to set aside won’t change.

The interest rate you are offered by the provider will depend on how much you want to borrow, how long you want to borrow it for, and your overall financial circumstances, including your credit score.

While Hitachi, like other lenders, will advertise a representative APR on any deal, this only has to be offered to 51% of successful applicants.

How long do Hitachi Personal Finance loans last?

Hitachi Personal Finance loans can last anywhere from two to five years. You’ll also be able to make early and over-payments without incurring any extra charges.

What determines my APR?

A number of factors affect the interest rate you’ll be offered. These include the amount you want to borrow, the repayment term and your personal financial circumstances – including your borrowing history.

It could be higher than the representative APR shown, especially if you have a low credit score. To understand more about APRs, read our guide.

Will applying for a Hitachi Personal Finance loan affect my credit rating?

When you apply for a loan, whether it’s with Hitachi or any other lender, it can leave a mark on your credit report.

Unsuccessful loan applications can damage your credit rating. However, too many applications over a short period can also make lenders hesitant.

When you compare loans with MoneySuperMarket, we perform a soft search that won’t harm your credit score. We’ll show you which loans you’re pre-approved for, so you know that if you apply, you’ll definitely be accepted – and you’ll definitely get the deal you see.

How long will it take for my loan be approved?

The decision to approve your Hitachi Personal Finance loan is usually instant.  In some cases, Hitachi may require additional information from you before making a final decision. The online application process should take no longer than 10 minutes.

How long will it take to receive the money?

You should receive the money within two working days of your application being accepted and approved.

Can I change my mind after taking out a loan?

You may cancel your loan agreement within the first 14 days of receiving your loan agreement letter – this is called the cooling off period. You don’t need to explain why you’re cancelling and you won’t need to pay an early settlement fee to cancel.

However, if you don’t repay the loan within 30 days of cancelling, you’ll be charged interest on the amount outstanding.

Can I pay off a Hitachi Personal Finance loan early?

Yes, you can pay off a Hitachi loan early and without financial penalty. This is one of the benefits of Hitachi Personal Finance loans, as other lenders often include early repayment charges in their terms.

Can I pay off a Hitachi Personal Finance loan early?

Yes, you can pay off a Hitachi loan early and without financial penalty. This is one of the benefits of Hitachi Personal Finance loans, as other lenders often include early repayment charges in their terms.

Can I increase my Hitachi Personal Finance loan?

You may be able to ‘top up’ an existing loan, but each application is reviewed on a case-by-case basis. Options can be discussed by contacting the loans team on 0343 351 9112 or emailing loansteam@hitachipersonalfinance.co.uk to arrange a call back.

Am I eligible for a Hitachi loan?

To take out a Hitachi Personal Finance loan, you’ll have to:

-          Be over 21 years old

-          Have a UK bank or building society account

-          Be a permanent UK resident, having lived in the UK for at least 12 months

Be permanently employed, self-employed, or retired with a pension

How do I apply for a Hitachi Personal Finance loan?

Visit the Hitachi Personal Finance website where you can choose from the loan amount you wish to borrow or the monthly budget you have available to make repayments.

You can also then select the length of the term to pay off your loan before applying direct.

Compare loans with MoneySuperMarket

It’s easier to find a better loan deal when you compare on MoneySuperMarket. All you need to do is tell us a bit about the loan you want, including how much and how long you want to borrow for, and we’ll give you a list of deals tailored to your needs.

You’ll be able to compare them by their interest rates and overall loan cost as well as the likelihood of you being accepted if you apply. Once you’ve found the perfect loan deal, just click through to the provider to finish your application.

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