Low cost loans with Credit Unions
Only 1% interest per month - (12.68% apr)
After just 12 weeks of saving regularly with your Credit Union, you could apply for a small loan that might help to make your life easier - maybe pay a bill?
Or, you might prefer to continue saving and apply for your first loan after a year or so. Then you can apply for a loan of up to twice the amount you have saved.
Compare the real cost of borrowing £500
| Loan provider | apr % | Monthly repayment | Total repayment | Weeks |
|---|---|---|---|---|
| Credit Union | 12.68 | £44.59 | £535.00 | 52 |
| Barclays * | 18.90 | £45.73 | £548.76 | 52 |
| Provident ** | 177.00 | £60.00 | £625.00 | 55 |
Source of data: * Barclays Bank ** Provident Savings September 2005
Most banks don't offer a loans of less than £1,000 - Credit Unions give small loans to help you get back on your feet.