Our Loans

We offer a range of loans to suit your needs.

EasyPlan Loans if you want to borrow without first saving with us.

Select Loans if you already save regularly with AdvanceCU.

EasyPlan Loans

FirstChoice Loan EasyPlan Loan FlexiPlan
Minimum Loan £300 £300 £500
Maximum Loan £500 £1,000 £1,000
Available to new members Yes No No
Minimum membership required no 12 months 18 months with good saving and borrowing history
Minimum Savings Required no £100 £150
Loan Period 6 – 12 months 10 – 12 months 24 month agreement
Affordability & Credit check yes yes yes
Interest Rate 3% per month (typical 42.6% APR) 2.5% per month (typical 34.5% APR) 2.5% per month (typical 34.5% APR)
The quicker you repay, the less interest you pay yes yes yes
Free life insurance (conditions apply) yes yes yes
Top Ups permitted no £200 loan balance. Max 3 per year after 12 weeks. Min £200
Save-as-you-borrow weekly £3 £3 £3
Express payment fee (optional) £1 £1 £1
Pay to your PrePaid Engage Account yes yes yes
Pay into your bank account yes yes yes

Please note that share withdrawals will affect your savings history.

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Select Loans

Select Loan Select Secured Loan Privilege Loan
Minimum Loan £300 £1,000 £3,000
Maximum Loan £8,000 £8,000 £8,000
Available to new members Yes No Yes
Minimum membership required 16 weeks or great credit history 12 months 2 years good saving and borrowing history or excellent credit history
Minimum Savings Required £100 £1,000 £1,000
Loan Period 12 – 36 months 12 – 36 months 12 – 36 months
Affordability & Credit check yes yes yes
£300-£999.99  20%pa (typical 21.9%APR)
Interest Rates £1000-£2999    18%pa (typical 19.6%APR) £1000-£8000   12%pa (typical 12.68%APR) Special reduced rate 9%pa (typical 9.4% APR)
£3000-£8000   12%pa (typical 12.68%APR)
The quicker you repay, the less interest you pay yes yes yes
Free life insurance (conditions apply) yes (max £5,000) yes (max £5,000) yes (max £5,000)
Top Ups permitted when paid 50% off loan balance when paid 50% off loan balance when paid 50% off loan balance
Save-as-you-borrow weekly £3 £3 £3
Express payment fee (optional) £1 £1 £1
Pay to your PrePaid Engage Account yes yes yes
Pay into your bank account yes yes yes

apply-now