FAIRshare Saver Loan

Save as you borrow with a FAIRshare Saver Loan. Our Saver Loan allows members to borrow between £50 – £7500 over a maximum of 60 months. With a Saver Loan, you build up savings whilst repaying your loan, and it can also help improve your credit rating. 42.6% APR

To apply for a Saver Loan you must –

Be a member of FAIRshare Credit Union
Be 18 years of age or over
Have a minimum weekly income of £125, from employment, pensions or benefits*

Your application is more likely to be approved if you –

Can prove a regular source of income
Are not currently bankrupt
Are not in a Debt Relief Order (DRO), Individual Voluntary Arrangement (IVA) or a Debt Management Plan

*Usually refers to Income Support, Job Seekers Allowance (JSA), Employment Support Allowance (ESA) & Universal Credit (UC).

Quick & easy to apply

Apply online now for a quick decision or complete an application form & return to FAIRshare.

Processing time will vary depending on demand, but we aim to have made a decision within 72 hours of receiving all supporting paperwork.

Saving as you borrow

Your repayment includes a saving amount, £3 a week or £13 a month is the recommended minimum, so when you’ve paid back your loan, you’ll have saved money too.

How much will it cost?

With a FAIRshare loan, we work with you to ensure your weekly or monthly repayments are affordable and suit your budget. The longer the repayment period, the smaller the repayments, but the more interest you will repay overall. Below are 2 examples, or visit the Loan Calculator for more options –

Borrow £1000 over 99 weeks
£13.93 a week loan repayment
+ £3 a week savings
Total £16.93 a week
Total cost of credit £379.03
Total savings after 99 weeks £297

Borrow £1500 over 42 months
£62.95 a month loan repayment
+ £13 a month savings
Total £75.95 a month
Total cost of credit £1143.91
Total savings after 42 months £546

Representative Example –

Borrowing £1200 over 156 weeks will cost £12.52 a week + £3 a week savings – £15.52 including savings.
Total amount repayable is £1954.37 which includes interest at 42.6% APR (3% per month). Comparable Rate of Interest for true cost of borrowing 21.1%.
Total savings £468 after 156 weeks.

Additional Borrowing

You don’t have to have repaid your loan in full to qualify to Top Up your FAIRshare loan, but you must have made at least 3 months’ (or 12 weeks) regular repayments to your existing loan before applying. Any outstanding loan balance will be taken into consideration when assessing your application. Click here to apply to Top Up your Loan.

Terms & Conditions

FAIRshare’s standard Terms & Conditions apply to this loan.

Apply online for a FAIRshare Saver Loan, or print the paper application form below.