Savers Secure loan

Borrow up £100-£10,000 against your savings at a lower interest rate

If you have savings with us, you could use the amount of savings that is equal to the amount you want to borrow as ‘security’ – which will mean paying a lower interest rate on your loan –much cheaper than many lenders can offer for loans less than £7500.

Representative APR is from 7.7% to 12.68% dependent on amount borrowed: check out our loan calculator to see how much you will repay on the amount you want to [hyperlink].

  • Same day decision (subject to daily cut off times)
  • Once approved, money in your account same day (subject to daily cut off times)
  • No early repayment charges
  • No admin charges or set up fees
  • Opportunity to build up savings as you pay off your loan
  • Pay off over a period of up to 5 years

How to apply

EXISTING CREDIT UNION MEMBER?

NON-MEMBERS

Savers Secure Loans are only available to existing members who have built up savings with our Credit Union

Apply for a loan

NOT A SCU MEMBER? Apply here
ALREADY A SCU MEMBER? Apply here

*Our Loan calculator is for illustrative purposes only.

Loan calculator

£500
12% months

42.60% APR

Weekly
£0
Total
£0
Interest
£0
Fortnightly
£0
Total
£0
Interest
£0
Monthly
£0
Total
£0
Interest
£0
See our loans
Representative exampleSee how we compare
Salford Savings secure loan

£1500 loan repaid over 24 months at 12.68% APR.

Repay £70.60 every month. Total interest £194.29

YOU PAY A TOTAL OF £1694.29

 


Santander Bank

£1500 loan repaid over 24 months at 20.6% APR.

Repay £75.55 every month. Total interest £313.20

YOU PAY A TOTAL OF £1813.20

Terms of Lending

All approved loans are subject to Terms & Conditions. Current terms of lending can be found here