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 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 £1501 – £3000
12 month or 52 week maximum repayment period
To apply for a Holiday Loan you must –
Be a member of FAIRshare Credit Union*
Be 18 years of age or over
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.
> Applications are more likely to be approved if you:
Applications are more likely to be approved if you –
can prove a regular source of income by using our Open Banking portal.
are registered on the Electoral Roll at your current address.
Quick & easy to apply
Applyonline nowfor a quick decision. Processing time will vary depending on demand, but we aim to have made a decision within 72 hours of receiving all supporting paperwork.
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 + £5 a week savings – £22.18 including savings. Total amount repayable is £893.50 which includes interest at 42.6% APR (3% per month). Rate of Interest for comparison 19.2%. Total savings £260 after 52 weeks.
Borrowing £1850 over 12 months will cost £180.56 a month + £20 a month savings – £200.56 including savings. Total amount repayable is £2166.62 which includes interest at 34.5% APR (2.5% per month). Rate of Interest for comparison 17.2%. Total savings £240 after 12 months.
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 £260 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.
Repayments must be made standing order or benefits being paid directly to FAIRshare’s bank account, weekly, 2 weekly, 4 weekly or monthly.
Members must save a minimum of £5 each week (£20/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. Loan defaults may be recovered through the Eligible Loan Deduction Scheme.
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.
Privacy & Cookies Policy