Saver Loan - Example of £1500.00 loan repaid over 18 months 

A member who has savings of £500.00 applies for a £1500 loan to help pay for home improvements and wishes to repay the loan in 18 months.

Repayment example: 18 payments of £100.00  (£1800)             

Breakdown of repayments: 

Loan repaid                 £1500.00

Interest paid               £  145.85

Added to savings         £  154.15

Total Paid                   £1800.00 


In this example, the loan interest is only £145.85 (APR 12.7%) and the 
member will also add £154.15 to their savings. 
(Assuming regular monthly payments of £100 (£92 towards loan repayment & Interest and £8 to savings each month) 

Whilst every care has been made in the production of this document, the Credit Union, or its staff, cannot be held responsible for any omissions, errors or other mistakes made herein. This document is for illustrative purposes only, so as to give an overview of the potential cost of borrowing.