Standard loans – the best interest rates

Are you already a member of Stroud Valleys Credit Union and have you been saving for at least three months? Then you can apply for a Standard loan. The loan can be up to twice the amount that you already have in your savings (your shares).

For example, if you have savings of £100 a loan of £200 will be available. Interest on the loan will be charged at only 1.25% per month on a monthly reducing balance. This is equivalent to an Annual Percentage Rate (APR) of 15%.

Loan repayment table (APR fixed at 15% over 1 year). These examples are for illustration only.

Loan amount Total interest due Total amount due, including interest Weekly repayments
£100 £7.81 £107.81 £2.08
£300 £23.46 £323.46 £6.23
£1,000 £78.30 £1078.30 £20.74

NB There are no additional charges, and no penalties for repaying early.

How to apply for a Standard loan