Save as you Borrow with a Holiday Loan

Fancy a break?  Holidaying in the UK or going abroad, a family holiday or a short break, create magic moments this year and Save as you Borrow with a Holiday Loan from FAIRshare!

With fair, manageable repayments and no surprises, a choice of repayment options to suit you budget and Save as you Borrow, our new Holiday Loan helps spread the cost of your holiday and save for next year at the same time.  And, if affordable, your Holiday Loan can run alongside most of our other loans (Terms & Conditions apply).

Holiday Loan at a glance

  • Borrow £500 – £3000
  • 42.6% APR for loans between £500 – £1500
  • 34.5% APR f0r loans between £1500 – £3000
  • 12 month or 52 week maximum repayment period
  • Repayment by Standing Order or Payroll Deduction
  • Non-members are eligible to apply*

To apply for a Holiday Loan you must –

  • Be 18 years of age or over
  • Have a regular income from employment or pensions
  • Have waited 6 months since your last FAIRshare loan or Top Up

If you already have a Handi-Loan or Handi-Loan Plus you are unfortunately NOT eligible for the Holiday Loan.

Quick & easy to apply

Apply online now for a quick decision.  Processing time will vary depending on demand, but we aim to have made a decision within 24 hours of receiving all supporting paperwork.  Funds will not be released until the first Standing Order repayment is received into your FAIRshare account.

*Non-members

If the loan application is successful, non-members will need to join FAIRshare, and we can do this online – we will email a special link to you, for completion including paying your £5 membership fee and £1 initial deposit.  You will need a debit or credit card to do this.  Funds will not be released until you’ve completed the account opening process and your first Standing Order repayment is received into your FAIRshare account.

Fixed repayments

The Holiday Loan has convenient fixed repayments, with no surprises, to help you budget easily.  Select weekly, fortnightly, 4 weekly or monthly repayment options to suit your budget.

Representative example –

Borrowing £750 over 52 weeks will cost £17.18 a week + £2.07 a week savings – £19.25 including savings.  Total amount repayable is £893.51 which includes interest at 42.6% APR (3% per month). Comparable Rate of Interest for true cost of borrowing 19.2%.  Total savings £107.64 after 52 weeks.

Borrowing £1850 over 12 months will cost £180.38 a month + £20 a month savings – £200.38 including savings.  Total amount repayable is £2164.54 which includes interest at 34.5% APR (2.5% per month). Comparable Rate of Interest for true cost of borrowing 17.1%.  Total savings £240 after 12 months.

Try our loan calculator for a guide on your loan repayments.

Saving as you borrow

Your weekly or monthly repayment includes a minimum saving amount – with a £750 holiday loan, for example, after a year you will have repaid the loan AND saved £107 for next year too!

Terms & Conditions

  • For loans up to £1500 in value, interest is charged at 3% per month, and for loans over £1501, interest is charged at 2.5% per month on the reducing balance.
  • If the loan application is successful, non-members must join FAIRshare – a £5 membership fee applies.
  • Repayments must be made weekly, fortnightly, 4 weekly or monthly by standing order from an account held in the applicant’s name and paid directly to your FAIRshare account.
  • Funds will not be released until the first standing order payment is received into your FAIRshare account.
  • Members must save a fixed amount each week/month, which cannot be withdrawn until the loan is repaid in full.  A specific ‘Locked Savings Account’ will be opened for this purpose.
  • Top Ups are NOT permitted with the Holiday Loan, but one additional loan product may be available to a member dependent on affordability.  If you have already a Handi-Loan or Handi-Loan Plus you are NOT eligible for the Holiday Loan.
  • Holiday Loans must be repaid over a maximum of 52 weeks or 12 months.
  • All loans are offered subject to status & will be assessed on an individual basis.  As part of this credit checks will be carried out.
  • FAIRshare reserve the right to transfer a member’s savings to cover loan arrears if payments are not received on time.
  • FAIRshare’s Holiday Loan is offered subject to availability.
  • Applicants must be over 18 years old.
  • Other terms & conditions may apply.