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% per month on a monthly reducing balance. This is equivalent to an Annual Percentage Rate (APR) of 12.68%.

Loan repayment table (APR fixed at 12.68% over 1 year). These examples are for illustration only.

Loan amount Total interest due Total amount due, including interest Weekly repayments
£100 £6.56 £106.56 £2.05
£300 £19.80 £319.80 £6.15
£1,000 £66.32 £1066.32 £20.51

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

How to apply for a Standard loan