loan pig

Equity Loan

  • Interest rate is 1% per month (12.86%apr)
  • Available from £100 to £5,000
  • Repayment term can be up to five years

Equity Loans are available to members who save regularly with us

 
Loan AmountRepaymentPeriodTotal Repayable
£300£10 week32 weeks£311.25
£500£15 week35 weeks£520.88
£1000£95 month12 months£1134.09
£3000£160 month24 months£3797.81

examples are for illustration purposes only

What do I need to apply?

  • You must be a member
  • You must have been saving regularly for at least 12 weeks
  • Your savings balance must be at least half of the value of the loan application
  • A loan application form must be filled in with all sections completed and signed
  • All the information provided by you must be true and complete
  • Make a commitment to continue saving regularly
  • You must be at least 18 years old
  • If applying for your first loan or one larger than £2,000 additional information may be requested
 

Additional evidence that may be required

Proof of Income

 
  • Your last three months bank/building society statements or your most recent Post Office Statement
  • Your last three months wage slips
  • Letters from relevant authorities showing the amount of benefit you receive
 

Proof of outgoings

If you do not pay bills through your bank you will need to provide evidence of some or all of the following:

  • Mortgage/Rent/Council tax payments
  • Gas/Electricity/Water Rates bills or receipts
  • TV licence plan/receipts
  • Store/Credit card statements
  • Insurance payments
  • Catalogue payments card or payments books
  • Payment cards or books from other lenders
 
 
The Lincolnshire Credit Union Ltd trading as Lincup is authorised and regulated by the Financial Services Authority (FSA) Firm No: 213763
We are members of the Financial Services Compensation Scheme , The Financial Ombudsman Service and ABCUL
Registered Company Number: IP00659C Registered Office, 18 High Street, Lincoln, Lincolnshire, LN5 8BE