Is Loqbox Save a loan?
No. Loqbox Save is a ‘cash redeemable savings voucher’. But you use finance to buy the voucher. This finance element is the part that gets ‘locked’ in your Loqbox Save.
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.