Savings Secured Loan

For all Retail CU members

Borrow your Retail CU savings balance at our lowest interest rate

Apply now with

Interest rate 2.86% (2.9% APR)

Sometimes you need money, but don’t want to dip into your savings.

With our Savings Secured Loan, your loan is secured against your Retail CU savings, protecting them whilst enabling you to still borrow money at a new lower interest rate of just 2.9% APR, our lowest ever rate. And remember… your savings continue to earn an annual dividend* (making the rate even better than most high street lenders!), and you benefit from our free Bereavement Fund too.

So, if you’re looking to borrow money at a great rate secured against your savings, our new Savings Secured loan is for you!

Savings Secured Loan at a glance
  • Borrow your Voyager Alliance savings balance
  • Our lowest interest rate of just 2.86% (2.9% APR)
  • Guaranteed loan that can be issued on the same day*
  • Interest is charged on your outstanding loan amount so will reduce with your decreasing balance
  • Continue to build your savings and earn a dividend whilst you repay your loan
  • No set up charges, early settlement charges or hidden fees
  • You must continue to save a minimum of £2/week or £10/month into your Membership Account, meaning you will have some savings once your loan is cleared.
  • Quick & easy online application – apply in minutes with Nivo or apply by completing our online application form

*The loan will be issued on the date stated at the top of your Loan Agreement and is not transferred on the date of your application. Members must first complete their loan agreement, which states all terms and conditions of the loan, and return this to Retail CU before any loan will be released.

Benefits of a Savings Secured Loan
  • No application fees or hidden charges
  • No penalties for early repayments, & you’ll save interest too
  • Affordable loan repayments through payroll deduction, or alternatively by direct debit
  • Convenient weekly or monthly repayment, tailored to suit your budget
Things you should know
  • The Savings Secured Loan is only available to members with surplus savings in their Membership Account. Surplus savings refers to the amount of available savings held in your Membership Account and does not include any savings already tied in with other loan products, for standing order transfers or any other such regular payments.
  • You must continue to save a minimum of £2/week or £10/month into your Membership Account, meaning you will have more savings once your loan is cleared.
  • Savings in your Membership Account will be secured against your loan and cannot be withdrawn until the loan is cleared.
  • Other terms and conditions may apply.

Loan Calculator

Use our loan calculator to see how much you could borrow and how much you would pay back.

Retail CU Loan Calculator

Loan FAQs

For help and guidance on applying for a Retail CU loan and everything you need to know to guide you through the application process.

Retail CU Loan FAQs

Representative Examples

Weekly repayments

Borrowing £2,000 over 104 weeks will cost £20 a week. Total amount repayable is £2,079.76 which includes interest at 4% APR.

Monthly repayments

Borrowing £5,000 over 36 months will cost £147.40 a month. Total amount repayable is £5,306.31 which includes interest at 4% APR.

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