Saver loan

Saver Loans

Saver loans are based on savings. You need to have saved for a minimum of 3 months before you can apply.

Saver loans help you build up savings while you repay your loan. At the end of the loan term you will have some savings you can withdraw, reducing your need to borrow in the future.

For your first loan you can apply to borrow up to 2x the value of your savings. Once this has been repaid you can borrow up to 3x your savings balance.

For example if you have £250 in savings, your first loan would be a maximum of £500. But your second loan could be up to £750.

You cannot withdraw the savings used to secure the loan until you owe less than what is saved. However we keep the security separate from your additional savings so that you will always have some savings to withdraw when you need to.