First Loan

This is for members borrowing from Grampian Credit Union for the first time.

• Loan amounts £200 - £5,000 maximum
• Repayment period - 6 to 36 months maximum
• Must have good credit history
• Must have been in continuous employment for a minimum of 12 months
• Must have lived at current address for 18 months
• Saved with Grampian Credit Union for at least 1 month
• No missed payments or defaults showing on the credit file within the last 12 months
• Free loan protection life insurance

Quick Loan

This is designed as an alternative to a Pay Day loan when you need quick access to cash.

• Available when you have been a member for a minimum of 6 months, making regular payments and in work. Or a new member paying by payroll deduction with confirmation received from your Payroll.
• Maximum of £1000 repayable over 12 months
• Representative 42.6% APR
• Can be taken in conjunction with other loan products
• You can top up back to £1000 after 50% of the loan is repaid
• Free loan protection life insurance
• No missed payments, arrears or defaults showing on the credit file within the last 12 months
• Decision within 1 working day of receipt of all documents

Granite Loan

Available to members who have borrowed from Grampian Credit Union in the past. With Granite Loan you can consolidate all your debts into one solid payment.

• Maximum loan amount - £7,500 + savings balance
• Maximum repayment term 5 years (60 months)
• Must have lived at current address for 36 months
• Must have been working for 12 months
• Credit Union member for at least 6 months
• Good credit history
• No missed payments, arrears or defaults with creditors in last 12 months.
• Free loan protection

Member Loan

Available to members who have borrowed from Grampian Credit Union in the past.

• Maximum loan amount - £15,000 + savings balance
• Maximum repayment term 5 years (60 months)
• Must have lived at current address for 36 months
• Must have been working for 12 months
• Credit Union member for at least 6 months
• Good credit history
• No missed payments, arrears or defaults with creditors in last 12 months.
• Free loan protection life insurance
• This Product cannot be used for Debt Consolidation (See Granite Loan)

Loyalty Loan

Available to members who have unattached shares (savings) of less than £1000 with an interest rate of just 6.5% APR.
Please note that savings matching the value of your loan will be held as security and cannot be withdrawn until the loan has been repaid. Your savings and loan are covered by free life insurance and you keep all your savings

• Loan amount £1000 or less
• Available shares (savings) greater or equal to requested loan.
• Willing to lock shares against loan
• Repay over any term up to 5 years (60 months)
• Representative 6.51% APR
• Continue to save as you repay
• Free loan protection life insurance
• Simple and easy to arrange
• Do not require submission of Bank statements / payslips
• Decision is immediate

Loyalty + Loan

Loyalty+ loan is designed for members who prefer to borrow against their savings and who have no other loans outstanding with the Credit Union. Please note that savings matching the value of your loan will be held as security and cannot be withdrawn until the loan has been repaid

• Existing member with £1000 or more in shares and borrowing from £1000 up to the value of shares with no other loan product outstanding.
• Willing to lock shares against loan
• Repay over any term up to 5 years (60 months)
• Representative 3.9% APR
• Continue to save as you repay
• Free loan protection life insurance
• Simple to apply and easy to arrange
• Do not require submission of Bank statements / payslips
• Decision is immediate

Flexi Loan

A budgeting loan to suit your finances. Multiple withdrawals up to the approved limit in accordance with agreed terms and conditions.

• Available when you have been a member for a minimum of 6 months or new member paying by payroll deduction
• Representative 16.1% APR
• Loan term of up to 36 months
• Can be taken in conjunction with one other loan product
• Free loan protection life insurance
• No missed payments, arrears or defaults showing on the credit file within the last 12 months
• Decision usually next working day of receipt of all required documents.

Guarantor Loan

Are you looking to borrow but have a bad credit history? You may be eligible for our Guarantor Loan. With a Guarantor (someone who is willing to co-sign for your loan), you may be able to borrow what you need.

Borrow between £500 and £5,000 with a Guarantor

• Borrower must have ability to repay loan requested (both member and Guarantor).
• The Guarantor does not have to be a member of Grampian Credit Union
• Affordable Repayments
• No Hidden Fees
• Interest calculated on a reducing balance
• Life insurance on loan and saving

Low Income Loan

Specifically designed for our members paying by benefits.

• Applicant must be in receipt of a minimum £100 per week
• Payment to be made via benefit
• First loans are paid on receipt of first benefit payment in to account
• Representative 29.30% APR
• Eligible for top up when condition set at loan approval has been met
• Free loan protection life insurance
• First loan maximum £250.00 paid over 6 months
• Maximum subsequent loan £750.00
• No missed payments, arrears or defaults with creditors