FlexiLoan
Our FlexiLoan is the perfect solution for members who require funds regularly and at short notice. We can give you a pre-approved credit limit held in your account, which can be accessed whenever you need it most - putting you in the driver's seat.
Benefits
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Only pay interest on the amount you’ve withdrawn
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No additional paperwork when you withdraw more money - making it hassle-free and quick to access your money
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No hidden surprises – fixed rate loan, no set up or admin fees
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Free loan protection insurance - in the event of your death your loan is paid off in full. Terms and conditions apply.
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Convenient access to funds online
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As you repay your FlexiLoan the funds become available in your account again – like a credit card
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Fairer alternative to bank overdraft charges and high interest rate credit cards, and there’s an end date for when the debt is repaid
At a glance
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Borrow between |
£500 and £5,000 |
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Repayment period between |
12 months and 5 years |
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% APR |
16% fixed rate |
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Free loan protection insurance* |
Yes |
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Set up fees |
No |
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Administration fees |
No |
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Early repayment fees |
No |
FlexiLoans are reviewed annually and at the end of your repayment period.
Example
Whether you need a FlexiLoan for your wedding, renovations, holiday or Christmas, you can enjoy the benefits of easily accessing additional funds over time.
e.g.
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If you’re planning a wedding you could get approved for a FlexiLoan of £3,000
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Initially you withdraw £2,000 to help cover the deposit of the venue
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A few months later you want to hire a photographer so you withdraw another £700
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Each time you withdraw more you don’t need to do any extra paperwork and only pay a fixed rate of 16% APR each month based on the amount withdrawn so far