Will lend between: £2,500 - £25,000
Over: 24 - 60 Months
Hitachi Loans customer reviews.
2.0 out of 5 stars
Very easy to apply and was given the advertised interest rate. Everything went through and had the funds as agreed within a few days. I would say to people who are offered a different interest rate at the last stage to check their credit rating as it may be a squeaky clean as they think. I checked ours before I applied and was 996 hence the reason why I got the best loan at the best rate. This is the second time I have used them and will use them again when I buy my next car!!.
Hitachi personal finance provide an awful service. They don't respond to correspondence, they are rude and do not support their customers. They treated me so badly I ended up having to take them to court and yesterday I won my case. The solicitor they instructed was underhand arrogant and continued to threaten me throughout this process. My advice is stay well clear
Hitachi loan company are a total rip off ,how can you be accepted for a loan when filling in the form ,then agree the loan rates, Then on the final hurdle of money being paid my rate goes up from 4.2% to 9.3%? Having challenged them over this ,I was told it could be my credit rating, What a load of tosh,I have never had any concerns in all my married life, I am so angry at this potential rip off the I may even contact the government ombudsmen as this can never be right in the light of past PPI claims that are still going on
Our review of Hitachi Loans
Hitachi is often a name associated with Japanese engineering and a lot of us probably have a piece or two of Hitachi equipment in our homes. They’ve now applied their company ethos, centered around transforming the way we live our lives, to personal finance. With an air of confidence they have a very a transparent website, providing easy access to all necessary information.
As to be expected with interest rates this low, you will need to have good credit history to apply and they will look into your financial circumstances. If you have poor credit, or have moved around a lot in the last five years, then Hitachi isn’t going to be the loan for you so before you apply make sure everything is up to scratch or you’re going to waste time on their lengthy online application.
Transparency is something that they mention a lot on their website and credit to them, they do make it clear what fees will be incurred for missed payments; £22 for a recalled Direct Debit, £25 for missed card payments and even £25 for every letter they have to send chasing you for payment.
Although their application takes a long time and there’s a few hoops to jump through, this hasn’t made much of an effect on their OPTIOSCORE which is towards the higher end of the table. Hitachi generally seem to be quite popular with their customers – they were voted Best Direct Personal Loan Provider in 2015 by Your Money and they have a 99% rating on Feefo.
Overall verdict: Hitachi have appealingly low interest rates and a transparent way of working. Although the information needed to apply is quite detailed and you will need good credit, customers in general appreciate their efficiency and seem to be satisfied. Definitely worth considering if you have a good credit history.
- No hidden or arrangement fees
- Approved customers get funds within 48 hours
- No charge for over-payments or early repayments
- Good customer service reviews
- You will need to be aged over 25
- You must have good credit history
- You will need to be in permanent paid employment, self-employed or retired and receiving a pension
- You must be a permanent UK resident
- You must have a bank or building society account
- Maximum APR 7.9%
- Arrangement fee: £0
- Early repayment fee: £0
- Late payment fee: £22
Hitachi Loans Customer Question & Answers
About Hitachi Loans
Engineering giant Hitachi, formed in 1910, have expanded their offering to the personal loans market. Offering one of the cheapest rates out there, they offer loans ranging from £2,500 to £25,000 across a payment term of two to five years with a range of representative APRs from 3.1% to 7.9%. As with most loan providers this rate can alter depending on your personal financial circumstances. The maximum that Hitachi will offer successful applicants is 16.1%.
You will need good credit history to apply as well as providing at least five years’ address history and details of your employment and annual income.
Their online application takes around 10 minutes to complete and you will be given an instant decision on submission. Successful applicants can then receive their loans within 48 hours. Although there are no hidden or arrangement fees, there are charges for late payments starting from £22 for a missed Direct Debit.
Registration number: 1630491
Hitachi Capital Plc, Thorpe Road, Staines- Upon- Thames, Surrey TW1 3HP
Reference No: 704348
Trading names: Hitachi Capital (UK) PLC, Hitachi Personal Finance, Savvi, Pay By Finance
Place of business: Hitachi Capital Plc, Thorpe Road, Staines- Upon- Thames, Surrey TW1 3HP
Data protection registration
Registration No: Z5360808
Data controller: HITACHI CAPITAL (UK) PLC
Address: Hitachi Capital Plc, Thorpe Road, Staines- Upon- Thames, Surrey TW1 3HPApply Now