How Long Does A Budgeting Loan Take To Process?

A budgeting loan is meant as a form of emergency loan for those that a claiming any of a number of benefits. As such, the application and acceptance process are designed to be quick but a lot can depend on when you apply.

The Jobcentre Plus has stated that a decision should be made on every budgeting loan application within 9 working days from the day they receive your application. As such, this means that you may have to wait around two weeks for a decision.

Budgeting Loan; How Long?

You will receive a minimum of one offer and possibly more. Once you have decided which to choose you should return your acceptance so that your money can be processed as quickly as possible. There is no set time for how long it will take for the money to reach your account but it usually takes around a week.

The money from your DWP budgeting loan will be paid directly into your bank account, post office account, or other financial account as agreed when you completed the form. If you haven’t receive the money within a couple of weeks you should contact the Jobcentre Plus to ask why the money is not yet in your account.