The loan you want - when you need it
Our personal loans are available for any purpose be it a new car, an exotic holiday, a lovely wedding, helping with Christmas expenses or home improvements
Unsecured Loans are for members who need to apply for more than their current savings. The minimum sum available is £500, but we realise that circumstances can change over time, so you can apply for additional borrowing while you still have a loan balance outstanding. More information is available below, while our handy calculator helps you work out repayments.
Unsecured Loans are for members who need to apply for more than their current savings.
While repaying such a loan you are required to maintain a sum at least equivalent to two months' loan repayments PLUS £5 in your Regular Savings Account – AND continue saving a minimum of £10 per month. Applicants must be a UK resident and at least 18 years old.
Our handy online loan calculator tool gives lets you check rates out for yourself. Simply slide to the amount you intend to borrow, and how long you want the loan to run, and you can easily try out various repayment scenarios. This facility can also be used to check out credit union rates against other lenders. Remember to include any existing borrowing to find your total repayments.
To apply for an unsecured loan online, log in as a member and then just select the relevant link from the online application section. Alternatively, to find out more, call our offices now on 0141 445 0022.
We do not charge any administration fees for accessing our loans. We do not charge for re-paying your loan early.
Interest is fixed throughout the duration of your loan agreement. Interest is calculated daily and in arrears, then charged to your loan account monthly. Interest is calculated on a decreasing balance.
Our current unsecured loan rates are: 9.4% APR for amounts between £5001 and £25,000; 12.7% APR for loans between £2001 and £5000 - and 19.6%APR for sums up to £2000.
Loan Repayments are taken from your Regular Savings Account on the 1st of each calendar month. Your first loan repayment will be deducted on the 1st of the month following the loan completion date. Loan repayments can't be deferred, and repayment holidays are not permitted.
Loan Protection is a free safeguard offered by the NHS Credit Union. Your loved ones can be secure in the knowledge that your NHS Credit Union debt (up to a maximum of £15,000) can be paid off, giving them peace of mind at a difficult and uncertain time.
Loan Protection is provided as a member benefit by the NHS Credit Union. It is free to every member, subject to the terms and conditions. However, it should be remembered that the terms of this free member benefit may change from time to time. The applicable rates / amounts covered are those prevalent at the date of death.
With effect from 1st June, 2015, the relevant protection scheme details for Unsecured Loans are:
Age when loan taken out - 18-79
Loan Term Limit - 7 Years
Limit of loan protected - £15,000
NB: Individual members do NOT have an insurance policy – they share in a free benefit offered by the credit union.