Savings Secured Loan

• Borrow up to the value of your Retail CU savings, between £250 – £25,000
• Our lowest interest rate of just 2.86% (2.9% APR)
• Maximum loan term 7 years*
• 100% of the loan value must be kept in Regular Savings Account as security and cannot be withdrawn
• Top Up by a minimum of £100 at any time, up to the value of your Retail CU savings
• Affordable repayments tailored to suit your budget
• Quick & easy online application – apply in minutes with Nivo or apply by completing our online application form

Please Note : If applying to Top Up your existing Savings Secured Loan, please apply for the amount you are topping up by, when completing the Nivo application. If approved, this amount will be the extra amount you receive.

• No credit or affordability checks
• 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
• Savings continue to attract dividend payments* whist repaying your loan

*Dividend dependent on company performance and agreed by Board and members at the AGM.

• Members must keep 100% of the loan value in their Membership Account. This will be secured against your loan and cannot be withdrawn until the loan is cleared in full.
• 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.
• Members can Top Up their Savings Secured loan up to the value of their savings at any time. The minimum Top Up value is £100
• When a loan requires a level of savings we usually only take into account savings built up in your Retail CU accounts. However, we will consider lump sums paid into your Retail CU account from other sources, if you are able to provide evidence that the lump sum has come from other savings.
• Other terms and conditions may apply.