Savings Secured Loan

Savings Secured Loan

If you are looking to borrow less than your Member Savings balance, why not consider securing your loan against your savings? Our Savings Secured loan allow you to benefit from lower interest rates. 

The application  is approved instantly and requires no affordability or credit checks. 

You can borrow up to the maximum value of your savings between £100 and £25,000 as long as you leave the minimum £1 in your savings.

Your savings will continue to be eligible for Dividend and you'll make monthly loan repayments until your loan is fully repaid. 

You can only secure a loan against Member Savings. ISA accounts money saved in pots are not eligible to be used as security for this loan product. 

Secure your loan against savings

Borrow between £100 and £25,000 with fixed monthly repayments over a choice of terms up to 7 years with the balance secured against your Member Savings Account..

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Loans are only available to qualifying members aged 18 and over and you must save at least £10 a month in addition to your loan repayment. All loans are subject to you meeting our lending criteria and other terms and conditions apply.

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Why borrow with us?

Our loans are exclusively available for our members. You must be aged 18 and over and save a minimum of £10 per month to your Member Savings in addition to your loan repayment. 

Benefits of borrowing with us include competitive interest rates, no repayment fees and fixed repayment structure. 

All of our loans are subject to status and meeting our lending criteria, and in some cases, we may need you to provide us with more information so we can make a decision.

If you have difficulty repaying your loan, our Financial Wellbeing Hub explains some of the options available to you.

  • Flexible loan amounts

    Depending on your requirements, borrow between £500 and £25,000. Eligibility criteria applies.

  • Competitive interest rates

    We offer transparent and competitive market rates, which won’t increase after application.

  • Fixed repayment structure.

    Choose your loan repayments over a flexible term

  • No early repayment fees

    If you wish to pay off your loan early, you won’t be charged early repayment fees.

How to apply

Frequently asked questions