loans
Services
Loans
Borrowing is simple, with no hidden costs, and no dodgy sales techniques.
Interest is charged on a reducing balance and there are no charges for early repayment, and no arrangement fees.
At the present time, Coastal Credit Union charges between 1 and 1.5% per month subject to status. That works out as an APR of 12.68% - 19.6%. The table below gives examples.
| Loan Amount | Loan Period | Monthly Payment at 19.6% | Total Payment at 19.6% |
|---|---|---|---|
| £20 | 1 month | £20.30 | £20.30 |
| £50 | 3 months | £17.50 | £51.49 |
| £100 | 1 year | £9.50 | £109.67 |
| £500 | 1 year | £46 | £549.91 |
| £1000 | 1 year | £92 | £1099.83 |
| £3000 | 2 years | £150 | £3593.48 |
| £5000 | 3 years | £181 | £6504.75 |
Currently Coastal Credit Union can provide loans of up to £7,500 subject to status.
We can also provide small business loans to individuals on the same terms.
Download a Loan application form (144 kb)
Download the Loans Leaflet (3 mb)