Loans
If you need to borrow money, you can apply for a loan of up to £35,000 with rates starting as low as 7.9% APR.*
How Our Loans Work
Our Personal Loans can be used for just about any purpose but we have a specific product for members who want to consolidate their existing debts or for those who want to purchase a vehicle. If you are currently employed by the Armed Forces, loan repayments are taken straight from your salary. Veterans and Armed Forces family members can make repayments by Direct Debit. When you borrow from us, we will also discuss how you can save alongside your repayments.
Credit subject to status. Terms and conditions apply. Figures are illustrative. Actual rates, repayments, and amounts repayable may vary depending on creditworthiness, loan amount, and loan term. Loans are subject to status and affordability checks. We cannot guarantee approval of your loan application until an assessment has been made. Supporting documentation may be required. Representative APR: 14.5%. Representative Example: Borrowing £3,000 over 24 months at a representative APR of 14.5% (variable) would result in monthly repayments of £144.75, with a total amount repayable of £3,473.96, and total interest of £473.96.
Loan Calculator
Use our calculator to get an idea of what your repayments might be.
Important Information
This calculator provides an illustration only and does not constitute a loan offer. The figures shown are based on the assumptions entered and may differ from the actual cost of credit you are offered. The rate you receive will depend on your individual circumstances, the amount you borrow, and the results of our credit and affordability checks. Representative APR: 14.5% APR. All loans are subject to status and affordability. We reserve the right to decline any application. Rates and terms may be changed or withdrawn at any time.
Representative Example:
Borrowing £3,000 over 24 months at a representative APR of 14.5% would result in monthly repayments of £144.75, with a total amount repayable of £3,473.96, and total interest of £473.96.
Frequently Asked Questions
What is 'Open Banking'?
Open Banking lets you safely share your bank account transactions, like a digital version of your bank statement.
Open Banking is a UK-wide FCA regulated service which gives you more control over your banking data. It enables you to share your data securely with selected third parties like us and other banks and building societies and you can stop sharing your data at any time.
The information that gets shared means lenders, like us, can make sure that taking out a loan would not have a negative impact on your affordability or put financial strain on your current lifestyle.
What if my debts are in arrears?
If you have existing debts and are in arrears, do not apply for more credit.
Applying for more credit will cause your credit score to go down and could damage your chances of being accepted for credit in the future.
Talk to your creditors and ask them for help. They might be able to offer you a payment break or an arrangement.
You can also seek help from places like StepChange or Money Helper.
Stay away from firms who will charge you for helping you with debts!
How much can I apply for?
Members can apply for a loan up to £25,000 (or £35,000 for a Car Loan) however, you should only apply for the amount of money you need to borrow.
How much we can approve will depend on how much you can afford to repay. We will use a combination of the information you provide, open banking and the information on your credit file to make a decision.
If you are unsure about what to apply for, get in touch and we will do what we can to help.
What is APR?
The Annual Percentage Rate (APR) shows you the total cost of borrowing money for a year, including both interest and fees. It's a way to compare different loan or credit card offers.
So, basically, it tells you how much you'll really pay each year for borrowing money.
Who can borrow?
- Anyone currently employed by the Ministry of Defence, British Army, Royal Navy or the Royal Airforce.
- British Military Veterans.
- Family members living in the same household as the above.
