The following guidelines apply:

• The maximum repayment term is 36 months (although our low interest rates generally allow you to repay over a shorter period)
• There are no fees for setting up the loan and no fees for administration or other hidden charges will be made
• The interest rate is calculated on a daily on the reducing balance. The quicker you repay, the less interest you pay.
• Saving continues as your loan is being repaid with a minimum £1 per week (or equivalent) added to your Membership Account balance from each deduction.
• Free Loan Protection insurance is provided up to age 70
• Refinancing is available for members looking to increase their borrowing on second or subsequent loans (subject to savings qualification)  
• Members may only have one Loan running at any time.
• Proof of income may be required. If the loan is based on joint income, proof from both parties may be required. For higher value loans, the additional party may be required to act as guarantor for the loan.
• Loan applications may be subject to credit checking.