Use your savings to secure a preferential interest rate at 6.17% APR
Deposit funds into a savings account and borrow up to the same amount at 6.17% APR.
Guarantor loan secured against savings
This guarantor loan is backed by savings - either your own or your guarantor’s.
The loan is secured against funds held in a savings account for the duration of the loan.
With savings held as security, this loan offers a practical and controlled way to borrow - whether you’re planning a large purchase, supporting a family member, or helping someone build their credit profile.
- Savings are held as security against the loan
- May help you access credit more easily
- Ideal for making a large purchase without using your savings
- A simple way to lend to a relative without managing repayments yourself
- Can help a child or family member build their credit rating
| Eligibility | You must be 18 years of age or older and live or work in the DL, DH, HG, NE, SR, TS or YO postcode area |
| Amount | Borrow up to £15000 |
| Term | From 6 months to 5 years |
| Interest | 6.17% APR |
| Security | The loan is secured against your savings. Your savings balance must be equal to or greater than your outstanding loan balance throughout the loan term |
| Repayments | Loans can be repaid weekly, fortnightly, or monthly depending on which one suits you best |
| Risk | Your savings may be at risk if the Borrower fails to make their required loan repayments |
| Early repayments | There are no fees for early repayments |
If you are interested in guaranteeing a loan for someone else but want to know more please
