This loan:
- Is subject to Credit Referencing, including for top-up loans
- Is available to all members who have built-up savings over at least 3 months at around £50 a month to a minimum £150 current balance
- Is available to members in employment with Child Benefit loans
- Has a term of 24-60 months
- Starts at 2% per month (26.8% APR) and drops to 1.75% (23.1% APR) for loan amounts over £4000
- Can be topped-up by a minimum £250 every 3 months
- Will require a minimum savings commitment of £10 per month
- Will require proof that a Standing Order for repayments has been established before funds are disbursed
- Locks-in your savings balance while it is lower than the loan value outstanding
