New Year Loan


The New Year Loan has been designed with the idea that we know some people borrow money to pay for Christmas, either by using loans or credit cards. We wanted to give those people an affordable alternative that ensures the debt doesn’t carry on for longer than necessary. Repayments can be made over a maximum of 10 months, allowing the loan to be cleared by the following December.


New Year Loan Calculator

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Key Product Information

APR 10.9% APR
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 10 months and must be repaid by your 70th birthday.
Amount of loan available You can borrow up to £2,000 with our New Year Loan. The maximum amount you can borrow across all our unsecured loans is £25,000.
Application/Arrangement Fee No application or arrangement fees apply.
Other Fees None.
Default Fees None.
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

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