Discovery Loan
3% per month (42.6% APR)
If you're a new member looking to borrow to help cover the bills or unexpected expenses, we’ve got you covered! With the Discovery Loan, you could access to a loan of up to £500 at a fair, affordable rate with no early repayment charges.
Apply NowJoin your community and get the help you deserve!
- No early repayment or arrangement fees
- Your loan application will always be assessed by a human.
- We conduct a holistic assessment, considering all aspects of your circumstance, not just your credit score.
- Build your savings while you borrow!
How it works
Maximum Loan Term :
42.6%
42.6%
42.6%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Most people need to borrow money at some point in their lives. Our members borrow money for all sorts of reasons - to help pay for Christmas, family holidays, a new car, carrying out home improvements or for covering the cost of replacing household items or consolidating debts.
We have found that people looking to borrow only a few hundred pounds often find they have very limited choices. Banks and building societies don't seem to offer smaller amounts for short terms.
If you don't have a good credit history, or don't have a bank account, you may not be able to get credit at all on the high street. People in our "common bond" who need to borrow smaller sums often end up paying huge amounts of interest through borrowing from pay day loan companies or through lenders who call to your house. We also know that trying to afford the repayments on these loans can cause a great deal of stress and put a real strain on your household budget. Our Discovery Loan is designed to give members access up to £500 immediately, subject to affordability, without the need to have held savings first.
Each application is considered on its own merits and with the utmost confidence. It is our policy to meet the borrowing requirements of as many members as possible, depending on the available funds. As a responsible lender, we will never knowingly place a member in more debt than they can afford. As an ethical lender, we try to help you to be financially responsible through budgeting, planning and saving.
- Savings are protected
- Free Life Savings Insurance*
- Professional services from local people in your community!
- Run by members just like you!
- Access to ethical affordable loans*subject to age, health, terms and conditions
