Refer a friend terms & conditions

How it works

  • You will need to have a loan with Oakam, or had one in the past, to be able to earn the reward
  • You can refer up to 5 people per week
  • Your name will be in the invite without directly disclosing you have a loan with Oakam, so that your friend can put you as their referrer and you can be rewarded
  • You must have consent from the person you are referring to us to pass on their details
  • The people you recommend must be aged 18+

Your reward

  • Your Reward is calculated by reference to the number of invites and Referrals you make
  • The minimum payment is £10 (unless we end the scheme)
  • You will be notified about collecting your referral reward via SMS once you are eligible i.e. earned £10+ and if you have a loan with Oakam made a month’s worth of repayment(s)
  • You are requested to collect the Reward within 6 months of earning it. Any Rewards not collected within 6 months will expire
  • Rewards will be paid to you by BACS transfer upon request
  • You will not be rewarded for recommending customers who have already applied
  • Anyone referred by you must have applied within 6 months of the referral for you to receive a reward for either their application or being granted a loan
  • No Reward will be paid if you are identified by the referee after the application
  • Oakam reserves the right to offset the Rewards against arrears on your account (if any) to repay your loan
  • In the event of a breach of these terms and conditions Oakam reserves the right not to pay Rewards and to restrict customers' participation in the Scheme without limitation or consultation
  • Oakam reserves the right to change or stop this offer for any reason at any time but if we do so we will make sure any rewards you have earned are made available to you

Lift Loan
73.1% representative (variable)

Oakam Loan
1421% representative (variable)

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk