Why choose our Family Loan?
- No Hidden Fees – No arrangement charges or repayment penalties.
- Quick Access – Apply after at least two weekly or one monthly payment has been received.
- Simple Terms – Your Child Benefit or Fostering Care Allowance must continue to be paid into your account for the duration of the loan.
- Flexible Repayments – spread repayments over 18 months.
All loans are subject to status and standard lending criteria.
Interest rates
- 3% per month (APR 42.6%)
Representative example
- Borrow £300 at 42.6% APR
- Pay back over 12 months
- 4 weekly payment: £30.00 (final payment £26.15)
- Total paid back: £356.15
- Total interest payable: £56.15
Required Documents
- 3 months of bank statements or Open Banking.
- Payslips/Benefits information.
- Other documents may be required.
Eligibility
- You must be over 18.
- You must be a member of Bedfordshire Credit Union and have paid your initial deposit.
- You must meet the criteria of our common bond.
