CURight Loans

This is the loan for new members who have not built up any savings. It may also be useful for members wanting to borrow more than they can with a Savers Loan.

If you are employed for over 24 hours per week for 24 or more hours per week then you can apply to borrow up to £1,000 over 18 months. If you are employed less than 24 hours per week (or not working) then you can apply for a loan of up to £500 to be repaid in 12 months.

Interest is charged at 3% per month (APR 42.6%)

You will be required to save a small amount with your loan repayments, you will not be able to withdraw these savings until the loan is fully repaid so that at the end of your loan you will already have built up some savings.

Example Repayments

Loan amount Agreement length Interest Total due Monthly repayments
£1000 18 months £309.09 £1309.09 £72.73
£500 12 months £102.91 £602.91 £50.25

The APR is 42.6%.

Please note that the above figures are for guidance only and assume that the required number of payments will be made. Contact us and ask for a personal quotation.

If you choose to pay off your loan earlier than planned you will not be penalised and you’ll also pay less interest.