Green Cash Back Loan
Want to make energy efficient updates to your property or upgrade to an energy efficient electric vehicle?
Borrow between £5,000 and £25,000, with up to 10-year repayment period and a 7.9% APR. You could even receive up to £250 cashback*!
Cambrian Credit Union is here to support you in whatever way you choose to contribute to a greener world. We are all aware that increasing the energy efficiency of our homes benefits both the environment and our ability to reduce our monthly power costs. Why not apply for our flexible green loan if you're planning home improvements and want to lessen your carbon footprint in the process. It can be used for large refit projects that might involve solar panels and insulation, as well as for smaller tasks like installing new windows or doors or acquiring a new boiler, or for both. anything that can lower your heating costs and boost your home's energy efficiency! Borrow between £5,000 and £25,000, with up to 10-year repayment period and a 7.9% APR. You could even receive up to £250 cashback*!
The Green Cashback Loan will allow members to borrow money for the following loan purposes:
- Electric vehicle charging point
- New or second hand electric or hybrid vehicle
- Electric bike
- Heating including the installation of a more energy efficient boiler, heat controls, ground or air source heat pump, biomass boiler, solar thermal panels
- Insulation of walls, floor, or roof
- Installation of new double or triple glazed windows and doors
- Solar panels and or battery storage
- Rainwater harvesting equipment
- Home ventilation system
Loan calculator
Apply for a loan today with interest rates that suit you!
Maximum Loan Term :
42.6%
42.6%
42.6%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary. We may need to alter an applicant’s Loan product due to affordability or other circumstances. In this instant our loans team will contact you and keep you up to date with your application.
Green Cash Back Loan – Supporting Greener Communities
Our Green Cashback Loan is designed to assist members in upgrading to an energy-efficient electric vehicle and making modifications to their property without breaking the bank. Borrow between £5,000 and £25,000, with up to 10-year repayment period and a 7.9% APR. You could even receive up to £250 cashback*!
*Applicants will receive £250 cashback after 12 months provided they can evidence that at least 50% of the loan money has been spent on one of the above loan purposes and there have been no arrears or early redemptions. £306.14 is the minimum amount of interest a member will pay based on current rates.
Green Cash Back Loan
| Borrow | Repay over | APR* |
|---|---|---|
| £5,000 – £7,499 | 12 Months – 5 Years | 7.9% |
| £7,500 – £25,000 | 12 Months – 10 Years | 7.9% |
* Annual Percentage Rate
Key Features
- Borrow from £5,000 - £25,000
- Easy application online or in branch
- Decision and payment in 3-7 days
- No impact on your credit file if you are not accepted
- Interest is charged only on the outstanding reducing balance
- No early repayment fees or penalties and no hidden fees
- Decisions by a person, not a computer
- Build your savings as you repay
Eligibility Criteria
- Must be over 18 years of age to apply
- Residing or employed in Wales
- Not in an IVA (Individual Voluntary Arrangement), DRO (debt relief order) or bankrupt
Will my application be approved?
Every Cambrian loan is subject to manual affordability and credit checks. Your likelihood of approval increases if:
- You are able to comfortably afford the repayments alongside your other existing financial obligations
- You haven't engaged in risky behaviours that could make it difficult for you to repay, including excessive gambling
What you’ll need
- Proof of Address - Dated within the last 6 months
- Photographic Identification – Passport or Driving License
- Benefit letter – if in receipt of benefits
- Tenancy agreement - if within term period
- Utility bill
- Council tax bill
- Your National Insurance Number
- Your recent bank statements from the past two months that demonstrate your income
If you don’t have photo id don’t worry, we may require additional proof of address information Scanned copies, a screengrab or clear, high-quality photos can be accepted.
Loans FAQs
Have a question? Check below to see if it is answered in our Frequently Answered Questions.
You can apply to borrow as much or as little as you need. Our maximum unsecured loan is £15,000. All loan decisions are based on your income, expenditure and your ability to repay.
You can become a membership and apply for a loan at the same time. Cambrian Credit Union does not currently require a member to save before they apply for a loan.
We Usually process applications within 3 working days, as long as we receive the relevant uploaded documents.
To apply for a loan we require:
Up to date photo ID
- Passport
- Driving License
Proof of address
- Benefit letter
- Tenancy agreement,
- Utility bill
- Council tax bill.
6 months proof of address are required for your application.
If you don’t have photo id don’t worry, we may require additional proof of address information.
Yes, you can repay your loan in full at any time without penalty. You can also make additional deposits to reduce the value of your outstanding loan at any time – again without penalty.
Every member of Cambrian Credit Union must keep £5 in their share account at all times. – annual membership fee of £3 taken on the anniversary of joining the credit union.
Warning: Late repayment can cause you serious money problems. For help with your account please contact our team on 0333 2000 601 or visit www.cambriancu.com. For financial advice visit www.moneyhelper.org.uk
