You can borrow up to the value of your existing savings with London Mutual Credit Union. For example, if you’ve saved £2,000, you can apply to borrow up to £2,000.
A Saver Loan lets you keep your savings intact while still borrowing at our lowest rates. This means you stay financially secure with your savings untouched, while benefiting from affordable credit.
Yes. Saver Loans are available to members with an existing savings balance, since the amount you can borrow is linked to the value of your savings.
Yes. Many members choose to keep adding to their savings while repaying, which can help you grow your balance even faster.
Yes, the great thing about a Saver Loan is that you can use your savings to pay off the outstanding balance of your loan at any time, without early repayment fees or penalties.
Your savings are locked while the loan is outstanding. Once your loan is fully repaid, you’ll regain full access to your savings balance.
