Is LOQBOX Save a loan?
No. LOQBOX Save itself is technically a ‘cash redeemable savings voucher’. But you use finance to buy the voucher. This finance element is the part that gets ‘locked’ in your digital piggy bank and is a loan provided by our sister finance company, DDC Financial Solutions Ltd.
It’s all very clever, behind-the-scenes stuff, but if you really want to know… the finance is transferred from DDC to LOQBOX on your behalf when you ‘buy’ your LOQBOX Save voucher using the DDC loan.