I want to borrow for…
Borrowing from Advance
Advance Credit Union loans offer excellent value
- There are no surprises, our standard loan interest rate is fixed for the duration of your loan
- Interest rates range from 9.4%APR to 42.68%APR, depending upon your history with us and affordability check
- Quick and easy online application
- Free money health check – we will let you know if you should be concerned about your finances
- The quicker you repay the less interest you pay
- Save-as-you-borrow; £3 per week is added to your savings
- There are no hidden charges
- Free life insurance on most of our loans
If you do not meet the lending criteria, we will contact you and advise what you may need to do in order to qualify for a loan with us.
Three Steps to your loan
Step 1 What is your loan for?
We know that borrowing money is a big commitment, so make sure you know how you will spend the money before you borrow. It will be easier to repay your loan if you know that it is paying off your new sofa, holiday, car, etc.
Step 2 Can you afford it?
Not sure if you can afford a loan? Try our simple Budget Planner. If you don’t need the money straight away you might be better off saving with us for while then either using your savings or you may qualify for a lower interest rate with us. Spreading the cost over a longer period will reduce your monthly payments, but events such as Christmas and holidays will repeat every year so should be paid off within 12 months.
As a responsible lender, we will make an assessment of affordability and won’t knowingly lend more than you can afford. Missed payments will appear on your credit history and may affect your ability to borrow elsewhere in the future.
Step 3 Apply!
Our loans are very competitively priced and include life insurance (terms and conditions apply). To get the best deal you should save regularly with us and complete your income and outgoings statement as accurately and honestly as you can.
To complete your application you will need:
1. Information about your income
2. Details of your expenses
3. Three months bank statements
4. Your National Insurance number
Our Loan Products
FirstChoice Loans for new members
EasyPlan Loans for new members with some savings
FlexiPlan up to £1,000 credit for existing members with a good history with Advance Credit Union
Select Loans for members with a track record of saving with us or a new members with a good credit score
Privilege for established members with a good record of saving and borrowing
Compare our range of loans
All loans are made subject to affordability, we will ensure that you are able to afford the repayments before granting a loan.
Please also be sure to read our Loan Guidelines.