Handyloan

This loan is available to those with a regular income other than salary or pension, who have been saving with us for three months or more, normally by Direct Debit. Loan repayments must be made by Direct Debit, and the loan will only be paid into the bank account on which the Direct Debit is drawn. We charge an interest rate of 2% per month payable on the reducing balance. This is equivalent to 26.82% APR.

Handyloans can be for up to £500, repayable over a term of up to 12 months.

To check what the repayments on a Handyloan will be, contact our office, but as an example a £500 loan repayable over twelve months would cost £47.28 in repayments per month.

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.