Personal Loan

Our regular loans are available for just about any purpose - anything from a new car, computers, holidays, weddings, or Christmas expenses to home improvements.

Personal Loans

Our rates are competitive, fair and affordable and all our loans come with a Free Bereavement Fund ensuring complete peace of mind without the added expense. 

Our personal loans are available to members who have saved with us for a minimum of 3 months. Members can apply for five times the amount in their savings up to £20,000, repayable over 7 years.

Commsave charge just 1% each month (APR12.7%) on the reducing balance of your loan. As an example this means that should you borrow £1000, repaid over 1 year your total repayment will be £1066.18. You will be told upfront what the total cost of credit will be which is guaranteed and will not be suddenly increased. With a Commsave loan there are no hidden set up fees and if you decide to repay your loan early there are no hidden penalties and no extra interest charges.

At Commsave members savings are pooled to provide the funds to pay out loans. In order to ensure that there is always enough funds members are asked to continue saving whilst repaying a loan, and they must keep one third of the outstanding loan balance in savings at all times. This also ensures that your savings grow throughout your loan repayment term.

* Loans are allocated at the discretion of the loans officers and are subject to terms and conditions set out in our loans policy.

How much can I borrow?
I currently have --- in savings
You can borrow up to
---
Please note that in accordance with our rules, loans are secured against your savings with us. The maximum amount of money we will lend is £20,000.
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Repayments Calculator
I get paid:
I want to borrow ---
and pay it off over ---
--- Repayment:---
Total Amount Repayable:---
Representative APR:---

Please be aware that this is not a loan offer and the figures quoted in this document are based on the Representative APR which may differ from the actual APR you qualify for after we have conducted a credit search. As a result, this should only be used as an indicative illustration.

The calculator is for illustration purposes only. Rates may be withdrawn at any time. We reserve the right to refuse any application.

At the Credit Union members' savings are pooled to provide the funds to pay out loans. In order to ensure that there is always enough funds members are asked to continue saving whilst repaying a loan, and they must keep one third of the outstanding loan balance in savings at all times. This also ensures that your savings grow throughout your loan repayment term - and remember you get the added benefit that at the Credit Union members receive inclusive bereavement again on all savings and loans.

* Loans are allocated at the discretion of the loans officers and are subject to terms and conditions set out in our loans policy.

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