Askcab   

Home , Search , Sitemap , Contact Us , About Us , Full Version

Home ,    News ,    What is Money? ,    Banking ,    Benefits ,    Budget ,    CONTACT US! ,   

Budgeting Loans


What is it?

Budgeting loans are interest free loans that are paid for through the Social Fund. They allow you to spread the cost of certain items (other than regular expenses) to help you or your family.

In order to qualify for a Budgeting loan you, or your partner, will need to have been getting Income Support or Income-based Job Seekers Allowance for at least 26 weeks.

You can apply for a Budgeting loan if you need help with one of the following:


If you need help with just one of the above, then you can apply for a budgeting loan. You cannot get a budgeting loan for anything else.

Before you get any money, you will have to agree how to pay the money back. Repayments are usually deducted from your Income Support or Income-based Job Seekers Allowance.

Any savings you have of more than £500.00 will usually affect how much you can get. Whether you can get a Budgeting loan will depend on how much (if any) you already owe the Social Fund, and also how much money is available for Budgeting loans.

To find out more, ask at the Jobcentre plus office where you claim your benefit.

How much will I get?

The minimum amount that you can borrow is £30.00.

You cannot get a Budgeting Loan for more than £1,000.00, and the total that you owe the Social Fund cannot be more than £1,000.00.

How do I apply?

You will need to make your application by completing a form (SF500).

Where do I apply?

You can get the relevant application form by popping in to the Jobcentre plus office where you have your benefit paid.

Alternatively, you can obtain the form SF500 from the Department of Work and Pensions website by logging on to www.dwp.gov.uk, or by clicking the link below.

Please click here to download the Budgeting Loans claim form (SF500)

Disclaimer,   Target Audience,   Jurisdiction    Last updated & checked: 29/03/2006