Holdfast can help you save for a ‘rainy day’. Members save for e.g. holidays, car insurance, MOT costs, a new washing machine, prom outfit and special events such as a 21st birthday. Anything where you need your savings to be safe and you won’t be tempted to ‘dip into’ them.
Saving regularly means you will be eligible for a loan. The amount available to you will depend upon your savings and repayments will be tailored to each individual member. You decide how much you can afford to pay each week or month, it is up to you. There are no penalties if you pay off your loan early. You must be over 18 to borrow You only pay interest on the reducing balance of the loan, not the whole amount like many other lenders.