Our Standard Loan is a great product which allows members to borrow up to 3x their savings, to a maximum of £10,000. This loan can be topped up if needed. You can apply to Top-up your Standard Loan with a Top up Loan once you have repaid a third of the original loan. Repayment schedules will be based on members repaying the full amount plus any outstanding balance on the previous loan within the remaining length of original loan.
- Borrowing Limit: Up to £10,000
- 12% Interest Rate (12.68% APR)
- Repayment Period: Up to 5 years
- Open to members who have been saving with us at least 3 months
- Members can borrow up to 3x their savings
Members with an outstanding Starter Loan cannot apply for this loan
- Save a minimum of £27 per month
- Two full month transactional bank statement (up-to-date transactions)
- Most current month's payslip(s)
Top Up Loan:
- You can apply for 3x your savings less the outstanding loan balance.
- Any future top-up loan must be repaid within the terms of the original loan agreement if 12 months or more are outstanding on the original loan. (Only three top ups will be granted to an original loan.)
To apply for this loan click here