Loan Rates
|
Product Name |
Who Qualifies? |
Monthly rate |
APR |
Details |
Conditions |
|
Bronze |
New Members who want an immediate Loan. |
2.00% |
26.8% |
Standard Loan Rate for New Members. |
|
|
Silver |
Pay in regularly for at least 3 months before borrowing. |
1.50% |
19.6% |
Standard Loan Rate for Members who have saved for 3 months or longer. |
Keep 1/3rd of original loan balance in share account. |
|
Gold |
Pay in regularly for 1 year or longer, or repay a loan without any arrears or withdrawing savings during loan. |
1.25% |
16.1% |
Discount for Loyalty after 1 to 2 years of saving. |
Keep £500 in share account during life of loan. |
|
Diamond |
Pay in regularly for over 2 years, build up savings of more than £500. |
1.00% |
12.7% |
Discount Loyalty Loan after 2 years of saving. |
Keep £500 in share account during life of loan. |
Examples of the costs of loans is given in our Loan Examples brochure.