PERSONAL LOAN OR ATTACHED LOAN
We have simplified our loans! Members can now apply for a Personal Loan as soon as we receive the first payroll deduction.
As soon we receive the first payroll deduction members can apply for a Personal Loan up to £2,000. Members have the option to wait until they have saved for six weeks and apply for a maximum of £6,000.
There is no minimum amount, small loan applications are welcome.
Interest is charged daily on the loan balance, at 26.8% APR for loans up to £3,999, and 19.6% APR for loans between £4,000 and £6,000. Loans can be repaid at any time without any ‘extra’ charges.
With this loan you can apply for up to four times your savings after six weeks saving. The interest rate is a competitive 11.7% APR. Members need to keep the equivalent of 25% of the outstanding loan balance in their savings throughout the loan.