We offer this type of loan if you are a member who has regularly saved with us for at least 3 months. As we have got to know you and you have proved that you can save regularly, we charge a reduced interest rate of 2% per month, which represents an annual percentage rate (APR) of 26.8%.
We will ask you to commit to saving at least £1 per week or £5 per month for the period that the loan is in existence. We will also consider a top-up loan application from you once 50% of the existing loan has been repaid.
2% per month 26.8% Representative APR
|Loan Term||12 months|
|11 Monthly Payments of||£96.11|
|1 Final Payment of||£70.91|
|Total Interest Payable||£128.12|
|Total Repayment Amount||£1128.12|
Figures are shown as a guide only and may differ slightly from an actual quotation. Terms and conditions apply.
On any loan made by us, you must be able to demonstrate that you have the ability to repay that loan.