Key Worker Loan
For Key Workers* helping the country during the Coronavirus outbreak. Borrow up to £1,000 at monthly repayment rate of 1% (12.7% APR) up to five years.
*(Key workers as identified by UK Government).
Members and non-members alike can apply for a loan of up to £750 repayable over 9 months using our new fast application process. Learn more.
Child Benefit Loans
Make your child benefit payment stretch that bit further with an immediate loan of £500.
This will be charged at 42.6% APR repayable over 50 weeks.
If you have more than one child and have paid off at least two £500 loans and have a £100 in Child Benefit Savings you can apply for a loan of £1,000 at 26.8% APR.
New members paying into their credit union through a deduction from their payroll can apply for an immediate introductory loan. This can be up to £3,000 repayable over up to 60 months at rates ranging from 12.7% to 26.8% APR.
Savings Link to Loans
Regular savers can apply for a loan that is roughly three times the value of their savings. Our standard rates vary from around 5.1% APR for a £10000 loan to someone with an excellent record. Up to 42.6% APR might be charged for a small loan to someone without a strong credit record.
Equity Linked Loans
If you are a regular saver with equity in your property we can give loans up to the maximum allowable by our Regulator. This is £10,000 on top of your savings. The maximum savings you can have is £7,500. Rates are negotiable but start as low as 3.7% APR
About Thamesbank loans
By avoiding paying high salaries to directors or having expensive branches we keep our costs really low and provide the best possible value loans to you – our members – the people who own Thamesbank.
The key things to remember about Thamesbank’s loans are:
- We do not charge any arrangement fees, unlike many lenders.
- We only charge interest on the outstanding balance of your loan rather than the original amount.
- Thamesbank do not charge for early repayment of your loan, making life easier for our borrowers.
- We will match or beat any written offer you show us from a bank or other financial institution, so you should always check us out!
Terms & Conditions for Loans
- For loans over £500 we may credit check, so we can be sure you can afford to repay.
- We may require to see at least two months of recent bank statements.
- We will expect to see at least 3 months of regular savings unless you are making payments through your payroll.
- You are eligible for an immediate loan if you are paying through your payroll, or if it is a Child Benefit Loan.