Handy Loans (26.8% APR)

Quite often, a person may need a loan urgently or cannot afford to save with LASA for eight weeks, and so this is where the ‘Handy Loan’ comes in.

Applicants for Handy Loans do not have to save regularly (although it is encouraged). Any savings they do have are not taken into consideration against the loan. As a result, the interest charged is slightly more than the Saver Loan, at 2% per month on the decreasing loan balance.

A £500 loan being repaid over a year would cost just £11.00 a week, and the total interest charged for the year would be £62.47*

Proof of Income is required for all Handy Loans.

*Repayment Figures provided are correct so long as repayments are made on time. Late repayments will accumulate more interest.