Starter Loan
First time loan?
Never borrowed before? No problem. Apply for a Starter loan and borrow up to £1,000 at 42.6% APR.
Loan application process
Step
1
Become a Member
Complete our membership form - join Cambrian Savings and loans
Step
2
Calculate your loan
Choose the amount you want to borrow and how long to pay it back. (from £50 - £1,000 over 24 months)
Step
3
Apply for loan online
Complete your application with the relevant attached documentation
Step
4
Sit back and relax!
We will get back to you within 2 working days with our decision
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.
The benefits of borrowing from Cambrian CU
A minimum borrowing amount of only £50 with affordable interest repayment rates
Easy application online or in branch
No early repayment fees or penalties and no hidden fees
Repayments are flexible and tailored to suit the individual’s needs
Interest is charged only on the outstanding reducing balance
Decisions made within 2 working days
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Representative example
For your convenience, below is an illustrative example of the costs associated with a loan of a specific amount.
Loan amount
£500
Interest rate - APR
42.6%
Loan term
12 months
Total interest
£103
Monthly repayment
£50
Total cost of credit
£603
The requirements of a Starter Loan
- Become a member at Cambrian CU
- Apply Online
- Up to three months bank statements depending on value applied for
- Up to three months’ pay slips depending on value applied for
- Benefit notification may be required
- Additional information may also be requested if partners income added or loan purpose.
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 and the minimum amount £50. 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 complete and have funds in place within 2 working days.
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.
