Yeoman House, Sekforde Street, LONDON, EC1R 0HF Telephone: 020 7017 8852
Firm Reference No 436625
Loan Calculator and Examples
Once you have been a member for three months, have a minimum number of shares and you are over 18 years old. You can apply for a loan.
The Credit Committee will look at your savings record and your ability to repay when deciding whether or not to grant a loan.
Example:
If you save £30 per month, after three months you may apply for a loan up to £450. You will have to repay this at £39.98 per month plus the minimum saving of £5 per month, a total of £44.98 per month for twelve months.
The total interest you pay is £29.76.
When your first loan has been satisfactorily repaid and your Shares have increased, you can be considered for larger loans.
Interest is calculated at 1% per month on the outstanding balance. There is no penalty for early repayment.
Your loan is covered by life assurance up to age 80, subject to terms and conditions.
The Credit Committee will look at your savings record and your ability to repay when deciding whether or not to grant a loan.
Example:
If you save £30 per month, after three months you may apply for a loan up to £450. You will have to repay this at £39.98 per month plus the minimum saving of £5 per month, a total of £44.98 per month for twelve months.
The total interest you pay is £29.76.
When your first loan has been satisfactorily repaid and your Shares have increased, you can be considered for larger loans.
Interest is calculated at 1% per month on the outstanding balance. There is no penalty for early repayment.
Your loan is covered by life assurance up to age 80, subject to terms and conditions.