Who can take out a loan?
Our loans are available only to those who live or work within the London Boroughs of Havering, Barking & Dagenham or Redbridge. In order to apply for a loan, you need to open a savings account with us and save for an initial qualifying period of approximately three months..
What can I borrow money for?
If you need to borrow money for any reasonable purpose you can apply for a loan from us. This is normally repaid monthly although you can settle the loan in full at any time and without penalty.
Cost of the loan
Interest from 1% per month (APR 12.68%) is charged on the balance of your loan at the end of each month and free life insurance covering the loan amount is included.
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