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FAIRshare Saver Loan

Build up savings with a FAIRshare Saver Loan

Borrow £500 up to £7500 over a maximum of 60 months with a Saver Loan. You build up savings whilst repaying your loan.

When you borrow from us, part of each regular deposit is allocated to savings after loan repayments has been deducted.  We call this ‘Save As You Borrow‘ and its one of the great benefits of borrowing from FAIRshare. It can also help improve your credit rating. Smaller loan amounts will be considered.

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FAIRshare Saver Loan Calculator

How much would you like to borrow?

And how long for?

%

APR

£200

Per Week

£1600

Total Repayment

£1200

Per Month

£1600

Total Repayment

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*Representative example. The figures given above are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.

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, including interest at 42.6% APR (3% per month). Comparable Rate of Interest for the true cost of borrowing 21.1%. Total savings £468 after 156 weeks.

To apply for a Saver Loan you must –

  • Become a FAIRshare member and open a savings account if approved for a loan.
  • Be 18 years of age or over.
  • Have a minimum weekly income of £125, from employment, pensions or benefits*
  • Not be currently bankrupt.
  • Not be in or have been in, within 12 months prior to the date of the application for a loan, a Bankruptcy, Insolvency, Debt Advice Plan or Protected Trust Deed Debt Scheme.

How much will it cost?

FAIRshare works 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.  Use the calculator to assist you.

Your application is more likely to be approved if you
  • Can prove a regular source of income with Open Banking
  • 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).

Apply online now for a quick decision.

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 Alternatively you can download an application form and return it to our Southwater, Telford branch for processing. Processing time will vary depending on demand, but we aim to have made a decision within four working days of receiving all supporting paperwork.

If we decline a loan application based on affordability, you will have the opportunity to reapply after 6 months from the date of the original decline decision.

FAIRshare Lending Policy Statement
Terms & Conditions

Additional Borrowing with a Top Up Loan

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 24 weeks' regular repayments to your existing loan before applying.  Any outstanding loan balance will be taken into consideration when assessing your application.  

Top Up Loan >

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Do you have a question about FAIRshare services? Our team is ready to answer all your questions.

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