Oakam Store Loans | www.oakam.com

Last Update: October 31st, 2016

Alternatives Submission:
Oakam Store LoansThe Oakam store loans will be looked at in further detail today. The same 2 loan products available through www.oakam.com can be applied for in person. Oakam’s retail network currently stands at 22 with the majority spread across London with the others situated around the Midlands. The London north locations are Dalston, Kilburn, Walthamstow, Watford and Wood Green. East includes Barking, East Ham, Romford and Stratford. South includes Croydon, Lewisham, Peckham, Southwark and Streatham. The 2 west outlets are Shepherds Bush and Slough. In the Midlands, branches are found in Birmingham, Coventry, Derby, Dudley, Leicester and West Bromwich. There doesn’t appear to be any expansion plan on the horizon across other areas of the UK.

There are as noted 2 products. The main option is the Oakam Loan that serves up between £200 and £1750. The terms are 3 to 12 months, but there are restrictions. £300 is for instance selectable over 3 or 6 only (charges would be £129.78 and £263.16). If £1000 was opted for then a full year is the only choice with the full cost here at £935.44. The secondary choice is the Lift Loan that offers £1000 to £5000 between 12 and 36 months. The Lift costs are more reasonable with £1000 over a year this time coming in at £390.48. The difference between either option sees varied required incomes of £400 or £700 per month.

They do target people in self-employment, those with CCJs in the past and there is a particular focus on those new to the UK. They for instance have trained staff in more than 20+ languages that highlights this added focus point further. Outside of personal loans there are no other financial services available. All stores have matched opening times of 9.30am to 6pm on Mon, Tue, Thu, Fri and Sat. Wednesday just differs as 10am to 6pm whilst they are closed on Sundays. When applying online the noted times are Monday to Friday (8am/7pm) and Saturday (9am/6pm). On the online side, same day funding is available when the application is completed before 4pm.