Student Officer Loan
We have specifically designed the Student Officer Loan to help you organise and plan your finances alongside your career path. This discounted loan is available for officers within their first two years of service.
Please note we only allow one Student Officer Loan per member, if you wish to borrow extra you will have to take out an alternative loan, see our additional borrowing page for more details.
Key Product Information for our Student Officer Loan
|Interest charging information||Interest rate fixed for the life of the loan. Interest accrues daily and is charged on a monthly basis.|
|Repayment information||You can repay your loan by payroll deduction or Direct Debit. To see if we offer payroll deduction in your force click here. First payment due on the next available agreed date after drawdown of loan.|
|Repayment period||The maximum loan term is 60 months and must be repaid by your 70th birthday.|
|Amount of loan available||You can borrow up to a maximum of £7,500 on this product, but a maximum of up to £25,000 across all our unsecured loans.|
|Application/Arrangement Fee||No application or arrangement fees apply.|
|Early settlement||You can repay the loan at any time fully or partially without charge.|
All loans are subject to affordability and our lending criteria.
Life Protection is included up to the age of 70. Loans are protected up to a maximum borrowing of £40,000 per member, this means that your loan would be cleared, ensuring that your debt does not remain outstanding, subject to terms and conditions. All benefits are paid at the discretion of our Board of Directors. Life Protection is not an insurance policy and is not guaranteed. For more information please click here.