Topping up your loan

When you borrow from Knowsley Mutual Credit Union you can only have one loan at a time. However, loans can be topped-up. This is when you apply to borrow more and include refinancing your existing loan.

For example, if you owe £150 and apply for £500 you would receive £350. The total amount you’d owe would be £500 which is the original loan plus the 'Top-up' of £350.

Please do not apply before you’ve made the repayments detailed in the table below:

Topping up your loan
Your weekly payment Your monthly / four-weekly payment You can top-up when you owe less than
£20 £80 £130
£30 to £39 £120 to £159 £150
£40 to £59 £160 to £239 £180
£60. to £69. £240 to £279 £250
£70 or more £280 or more £300

 

To check your loan balance, login to your account. 

You can also register for online access. 

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