Guaranteed Loan

Guaranteed Loans are available for members who have built up savings in their savings account.

Interest ranges between 0.5% and 1% per month on the reducing balance, dependent on the amount you are borrowing (6.2%APR to 12.7%APR). The guaranteed amount you borrow will be held in an Attached Share account, this is held as security against the loan. A guaranteed loan may be something that is considered by a parent, wishing to allow their child the responsibility of making the repayments and learning how to budget, but whilst keeping the interest rate at a very attractive rate. This is ideal for a first car, or rent deposit.