Helping you spread the cost of annual payments at a low interest rate, and save at the same time.


The Ten Month Loan is for members who need support for making payments for

annual costs such as: car insurance, nursing fees, season tickets, car service/MOT,

professional fees, home insurance, caravan site fees or other uses that would be considered as an annual cost. You can borrow between £500 to £1,500 at 5.1% APR.

This product cannot be topped up and must be paid back over 10 months.

  • Enjoy a low interest rate of just 5.1% APR.
  • Borrow between £500 to £1,500. 
  • Add to your savings while repaying the loan.
  • No early repayment fee for settling the loan.
  • Your family is protected by our loan protection policy.

How much will my loan cost?

Product Features


  • An interest rate of just 5.1% APR.
  • Borrow up to £1,500.
  • Paid back over a 10 month term.
  • Pay off your loan early without any penalty fees.




  • To be eligible to apply for a Ten Month Loan, you must have at least £5 in your Regular Savings Account (which is the minimum shareholding).
  • New members who have not made their first contribution must deposit at least £10 before any loan application can be completed.
  • You cannot apply for a top up Loan.
  • Members must not be Bankrupt, entered into a Trust Deed, DAS, IVA or DRO, and must meet the eligibility criteria to repay the loan.

Key Facts


  • You must be a member of the NHS Credit Union.
  • You must be over 18 years old.
  • Free Life Insurance cover for your Personal Loan up to the age of 79. The Loan Protection cover allows us to make a claim upon your death or permanent disability and clear your outstanding loan balance. T&C’s apply.
  • We do not charge a Loan arrangement fee or an early settlement fee.
  • The minimum Ten Month Loan available is £500 and the maximum is £1,500.
  • The Ten Month Loan term is 10 months.
  • The Ten Month Loan interest rate is fixed at 5.1% APR.
  • For more key facts click HERE.

General Information


The Ten Month Loan is for members who need to apply for more than their current savings, from £500 up to £1,500 to help with annual payments.


While repaying such a loan you are required to maintain a sum at least equivalent to one month’s 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.


New members who have not made their first contribution must deposit at least £10 before any loan application can be completed.


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.


You will not be able to top up this loan at any point during the term of your loan.


To apply for the Ten Month 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. The current rate for the Ten Month Loan is 5.1% APR.


Repayment Information


Loan Repayments are taken from your 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


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 details are:


Age when loan taken out – 18-79


Loan Term Limit – 7 Years


Limit – £15,000


NB: Individual members do NOT have an insurance policy – they share in a free benefit offered by the credit union.

To apply for the Ten Month Loan online, log in as a member HERE and then just select the relevant link on the online application section, or you can apply via the NHS secured messaging Nivo app HERE.


Alternatively, to speak to a member engagement officer, call us on 0141 445 0022 and select option 1.

Our loan products at a glance

The loan you want – when you need it.


Our revolving credit facility for members.


A loan secured against your savings.


The loan that could save you hundreds of pounds in interest charges.


Borrow up to £5,000 to help fund further education.


Member of ABCUL

Authorised and Regulated by

Founder member of CFCFE

Your money is protected up to £85,000

Complies with the requirements of the Cyber Essentials Security 

Member of GCofC

Member of SBRC

Healthy Culture Champion