Standard Loan

Available to all members

Standard Loan

Available to all members.

Standard Loans are available from £100 to £7,500, and interest ranges between 2% and 3% per month on the reducing balance, dependent on the amount you are borrowing (26.8%APR to 42.6%APR). Note: If you have savings with us you may be entitled to a Saver Loan. 

- I am over 18
- I am a member of Wyvern Savings & Loans
- I am looking to borrow between £100-£7,500

 

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More Information

Loans will be granted according to your ability and intention to repay. If you have an Active County Court Judgement (CCJ), or are in a debt management plan, it is likely that you will not be able to borrow more than £300 in excess of your shares.

Repayments will be agreed with you, usually to fit in with your income. Loans are usually repaid over two years, but it may vary depending on your circumstances.

You will be asked to save whilst you make repayments. Any savings you have may help you towards a saver loan in the future, and may affect the decision of a future loan.

All loan applicants will be credit checked, to help us make our decision. The decision is not automated, or based solely on this credit check. Our team of loans officers will look at all the information provided to ensure the right decision is made for you, and the members you are borrowing from.

If you have a current loan with Wyvern Savings and Loans, you can apply for a ‘top up’ loan.

 

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