Loyalty Saver Loan

With this loan you are able to borrow double the amount you have saved at half the interest rate of our Basic Loan.  This will be attractive to members who have already built up some savings or who placed a lump sum in their savings account when they joined.

Under our rules you can borrow up to £5,000 plus the value of your savings.  So if you have saved £5,000, for example, you can borrow £10,000, perhaps towards a new car. A loan taken out for this amount over five years would require monthly repayments of £222.44 including interest (total interest £3,346.76).  Interest is calculated at a simple annual rate of 6.63%.

Loan 
Amount		 Duration Monthly
Payments		 Total
Interest
£1,000 12 Months £88.85 £66.19
£2,500 24 Months £117.68 £324.42
£10,000 36 Months £332.14 £1,957.18

Examples given are for illustrative purposes only. A personalised quotation will be prepared for you on application.

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