Saverplus Loans

For members who need to borrow less than their savings this loan offers a low interest rate to encourage members to keep their savings safe in the credit union.

You can borrow up to your savings balance with interest charged at 0.4% per month (APR 4.9%). You will have to keep your savings above the outstanding loan balance but you rest assured that your loan is covered by our loan protection insurance which will repay the loan in the event of your death so that your savings can be passed on to your loved ones.

Example Repayments

Loan amount Agreement length Interest Total due Monthly repayments
£5000 60 months £634.56 £5634.56 £93.92
£2000 36 months £151.72 £2151.72 £59.77
£1000 12 months £26.27 £1026.27 £85.83

The APR is 4.9%.

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.