What is a Loyalty Loan?
Borrow against your savings with our best rate
A Loyalty Loan lets you borrow using your savings with us as security. It's our best rate, for members who continue to save while they borrow. Your savings stay in your account while you repay.
There are two options, depending on how much you want to borrow compared with your savings.
Loyalty Advance Loan
Borrow up to the full value of your savings.
- You need at least £100 in savings.
- You need savings equal to the amount you want to borrow. For example, to borrow £2,000 you need £2,000 in savings.
- Your savings are used as security for the loan.
Loyalty Plus Loan
Borrow up to double your savings.
- Available for loans from £100 to £7,499.
- You need savings of at least half the loan amount. For example, to borrow £2,000 you need £1,000 in savings.
What happens to my savings?
Your savings stay in place while you repay your loan, and you can keep adding to them. Because they secure the loan, some of your savings may be held until the loan is repaid. When the loan is fully repaid, your savings are still yours.
Current rates and a representative example are on our Loyalty Loans page.
Every application is assessed on your income, outgoings and ability to repay. Subject to status and affordability. Membership eligibility criteria apply.