Loans
Borrow from a neighbour, not a hedge fund.
Six loans, one principle: the longer you save with us, the less you pay to borrow. Every rate below is quoted per month, with interest calculated daily on the reducing balance — so as your loan shrinks the interest you pay does too.
- From £100 upwards
- Decisions made in Douglas
- Repay weekly, fortnightly or monthly
- Interest calculated daily on the reducing balance
Loan calculator
Try the numbers before you apply.
Monthly repayment
£111.19
final payment £117.12
- Total paid back
- £4,008.77
- Cost of credit
- £1,008.77
- Rate
- 1.65% / month on the reducing balance
Indicative only. Interest is calculated daily on the reducing balance. The representative APR for each product is provided in your pre-contract credit disclosure. Loans are subject to status, affordability and our underwriting.
Apply for Save as you BorrowEvery loan, side by side
Calculator ↑LoanRateAmountTerm up toBest for
- Basic LoanOur everyday loan for members building a savings habit.
- Rate
- 2% / mo
- Amount
- £500–£5,000
- Term up to
- 5 yrs
- Best for
- Members with savings
- Save as you BorrowBuild savings while you clear the loan. Same payment, two outcomes.
- Rate
- 1.65% / mo
- Amount
- £500–£5,000
- Term up to
- 5 yrs
- Best for
- All members
- Loyalty Saver LoanOur best rate for members who've been saving with us.
- Rate
- 1% / mo
- Amount
- £500–Savings
- Term up to
- 5 yrs
- Best for
- Members with prior savings
- Starter & Emergency LoanA small, fast loan for new members or unexpected costs.
- Rate
- 3% / mo
- Amount
- £100–£500
- Term up to
- 1 yr
- Best for
- Members new to MCU or facing a one-off cost
- Family Loan & SavingFor families on State Benefits or pension, repaid straight from the benefit.
- Rate
- 3% / mo
- Amount
- £100–£500
- Term up to
- 1 yr
- Best for
- Recipients of State Benefits or Isle of Man State Pension
- Premier LoanOur lowest rate. Keep your savings invested, borrow against them.
- Rate
- 0.5% / mo
- Amount
- £500–Savings
- Term up to
- 5 yrs
- Best for
- Members borrowing up to their share balance