Basic Loan

This is our standard loan and is available for amounts between £50 and £5,000 plus the value of the savings you hold with us.  The rate of interest on repayments is 1% per month which equates to a simple interest rate of 6.86% per annum.

As an example, if you wanted to borrow £1,000 for some new carpets, the monthly repayments over 12 months would be £88.85. This includes the total interest payable which is £66.19.

Repayments over 26 weeks on a £500 loan would cost £19.84 weekly (total interest £15.73).  Interest is calculated by adding 1% monthly to your outstanding balance which uses a simple annual interest rate of 6.87%, the same rate as our Basic Loan.

Loan 
Amount
Duration Monthly
Payments
Total
Interest
£50 6 Months £8.63 £1.77
£500 12 Months £44.42 £33.12
£5,000 36 Months £166.07 £978.59

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

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