Low Interest Loans     Home

Members usually qualify for loans after depositing a sum each week for thirteen weeks. This period is a flexible period and may depend on the Member's circumstances. If in doubt enquire at the office. Interest on the Loans is charged at 1% per calendar month on a reducing balance. As an example a £100.00 loan over a one-year would be charged £6.18 interest. A £1000.00 loan over a 2 year period would be £11.00 a week - capital + interest. The interest on the loan would be £124.89. Call at the Office for a quote from our friendly staff! Please note Your Shares need to be added to on each payment, so as an example, you may add £5.00 to your Share Account and £10.00 towards your loan each week. The balance of your Share Account is a guarantee against your Loan.