Supportive Loan

We value our members and understand the current situation is not easy for those have been affected by the coronavirus and seen earnings reduced. If your current income is impacted by furlough, loss of hours or a drop in salary we have a tailored loan to help you through this challenging time. Apply now!

 

Our Supportive Loan at a glance

We have created a loan for £1,500 with a manageable monthly payments over 3 years. We allow additional payments and the ability to pay off the loan in full at no extra charge.

Loan amount	£1,500
Repayment Period	36 months
% APR	26.8%
Loan Protection Insurance	Yes
Set up fees	No
Administration fees	No
Early repayment penalties	No

 

Requirements

• Minimum 6 months Capital Credit Union membership
• Proof of furlough, loss of hours or a direct drop in salary due to coronavirus
• Full credit reference 
• New borrowing only, no additional top up to existing loans

 

Illustrative Example

Loan amount	% APR	Term (months)	Monthly repayment	Total amount payable	Total interest
£1,500	26.8%	36	£58.83	£2,118.02	£618.02

 

Members continue to meet their regular savings at the same time as repaying their loans, building up a nest egg for when the loan is paid back.

As a responsible lender, all loan decisions at Capital Credit Union are made based on your income, expenditure and ability to repay.

In order to comply with money laundering regulations, before we provide any service, we may search the records of one or more registered credit reference agencies who will provide us with information from the Electoral Register and any other data appropriate to the search.