You can apply to borrow between £100 and £1,000. The final amount of Budgeting Loan you get will depend on:
•whether you are single
•whether you are a couple
•whether you are single or a couple, with children
•any existing money you owe to the Social Fund
•your ability to repay the loan
•your savings - your award will usually be reduced by the amount of any savings you or your partner or civil partner have above £1,000 (or £2,000 if one or both of you is over 60)
The following can't be taken into account:
•the urgency of your need
•any health problems you or your family might have
How it's paid
The loan is usually paid into your bank, building society or other account provider's account that you have nominated.
How do you repay it?
Your repayments, which are worked out at the time your loan is agreed, are usually automatically taken out of your benefit. If you're not getting benefits, another method will be agreed.
You normally have to repay a Budgeting Loan within 104 weeks.
The repayments are interest-free which means you only pay back what you borrowed and no more
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