Current Interest Rates

We now have two scales of interest rates, the first for ‘Standard Loans’, the second for ‘Loyalty Loans’. Loyalty Loans are for members who have a long history with us, have saved regularly and have an excellent loan repayment record. These rates are broadly in line with other credit unions and apply from 1st May 2016.

Standard Loans:

Amount of Loan
Interest Rate per month
Equivalent APR
Up to £499
3 %
42.6 %
£500 – £1,999
2 %
26.8 %
£2,000 – £5,000
1.5 %
19.6 %

Loyalty Loans:

Amount of Loan
Interest Rate per month
Equivalent APR
Up to £499
3 %
42.6 %
£500 – £1,999
1.5 %
19.6 %
£2,000 – £5,000
1 %
12.7 %

All Green Loans qualify for the 1% rate, providing they meet the necessary criteria.

For an explanation of APR go to interest rates explained

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