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Discovery Loan

3% per month (42.6% APR)

For members who are looking to borrow money straight away or who have not yet managed to build up enough savings to take advantage of a Standard Loan. A Discovery Loan is ideal if you are receiving benefits or on a low income. Your first loan is restricted to a maximum of £400 with top-ups available up to a maximum of £800 following a period of satisfactory repayment history. Terms and conditions apply.

You can apply for our Discovery Loan online, by post, at our office or at one of our collection points. To apply for a loan you must:

Be 18 or over
Have an income of more than £100 a week.
Be an existing member or, are eligible to join.
Provide your last 2 months bank statements.
Provide 2 recent wage slips or, your benefit award letter and housing benefit award letter (if applicable)

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Last updated:

06/12/2018

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