For those who can show that they are able to meet the repayments, but who do not meet the criteria for a saver loan.
The Community Bank understands the pressures on disposable income in the current economic environment and undertakes stringent affordability checks before granting a loan (details here)
If you are not already a member of St Albans Community Bank, you will be required to join before a loan can be issued. Join Today
Interest on a standard loan will normally be charged at 3% per month for loans under £1000(APR 42.6%) or >2% per month for loans £1000+(APR 26.8%) but in some cases (e.g. people with a good credit history and/or people with a regular income, etc.) the rate can be 1% per month (APR 12.7%).