Mon, Tue & Fri: 9:30am - 1:00pm
01376 516994info@holdfastcreditunion.co.uk
The Centre • Newland Street • Witham • CM8 1AH
Our loans
About Our Loans
If you need a small personal loan that best suits you, we can offer a loan for purchasing household goods, a new car, home improvements or even paying for a holiday!
We are a responsible and ethical lender, and we will only lend if you can afford the repayments. So, whatever the reason we are here to help.
Why our members love our loans:-
- Highly competitive interest rates.
- Repayments are tailored to individual circumstances.
- The interest charged varies from 2% - 3% per month on the reducing balance (unlike most lenders and equivalent to 26.7% - 42.6% APR).
We can help you to manage your loan sustainably.
- We do not charge an arrangement fee.
- We do not make you pay an early repayment penalty. If you repay early then you save interest.
- You can pay flexibly - weekly, fortnightly or monthly.
- Continue to save as you repay your loan.
| Normal Loan | Child Benefit Loan | Emergency Loan | Christmas Loan | |
| Max amount I can apply for? | 3 x Savings plus £200 | £500 | £300 | 2 x Savings |
| How long can I borrow for? | 36 months | 12 months / 52 weeks | 12 months | 12 months |
| Interest rate | 2% p/m or 26.7% p/a | 3% p/m or 42.6% p/a | 3% p/m or 42.6% p/a | 2% p/m or 26.7% p/a |
| Are there any fees for paying early? | No | No | No | No |
| Can I save at the same time? | Yes | Yes | Yes | Yes |
Normal loan: Yes – you will need to have been saving for at least 9 months
Child Benefit Loan: No – but we have to see a cleared CB payment from HMRC before releasing funds
Emergency Loan: No
Christmas Loan: Yes – you will need to have a separate Christmas account to access this product
Our types of loan
We do not have loan products set up on the website yet.
Child Benefit Loans
Use your child benefit payments to repay your loan and save for the future!
Standard Loans
Our standard loans are charged at 2% p/m and members who have been saving for over 9 months can apply for up to 3 times what they have saved plus £200 (subject to acceptance).
Within Shares Loans
Within Shares Loans are a great way of using your savings without losing the benefit of the life assurance on offer. Loans within shares can be approved by the Office on the day of application.
Looking for great savings account? Please see our savings accounts page