Standard Loan

This loan is available to those with a regular income, either through earned income or benefits, who have been saving with us for three months or more by standing order or direct debit. We charge an interest rate of 1.8% per month payable on the reducing balance. This is equivalent to 23.87% APR. You may apply to borrow any amount up to £3000.

To check on what the repayments would be on a Standard Loan please contact us.

Interest on members’ loans is charged on the reducing balance. There are no charges whatsoever, and no fees for early repayment. All loans are insured. For details of the insurance please click here.

You will be expected to continue to save at least £10 a month whilst your loan is outstanding.

For information on how to apply for a loan click here.