A personal loan for personal reasons. Whatever it is you dream about, such as home improvements, getting married, taking a holiday or something else entirely – we’re here to help!

General Information about loans

  • Members can apply for a loan either by telephone or visiting the office. 
  • Members can apply for a loan 12 weeks after their account has been opened. 
  • Members will be required to sign a promissory note which is a legally binding agreement to make repayments.
  • The interest charged is 12.68% APR representative (1% per month) on the reducing loan balances.


  • You must be 18 years old or over. 

  • If topping up your current loan, it must be up-to-date and not have any arrears. ​

Supporting Documents 

  • 1 months bank statements 

  • 3 months payslips 

  • Previous 1 years Year-end accounts if self-employed 

We will: 

  • Have a Loans Officer discuss your application in the office or over the telephone 

  • Base your application on your needs, affordability to repay and savings record with us 

  • Base each loan decision on its own merits 

  • Ensure a quick response to your application 

  • Advise members what steps you may need to take to become eligible for a loan 

  • Insure an outstanding loan balance should a member die, subject to certain cover limits, meaning dependants or next of kin will not be obliged to repay the outstanding balance 

There are no charges or fees for early repayment:

  • Interest is calculated on the outstanding loan balance, so you pay even less interest by repaying your loan quicker than originally planned. 

Members who fail to make payments or contact the Credit Union will be subject to our Credit Control Procedures. Legal fees may be added to your account. 

Members should contact BDS Credit Union if their circumstances change. Communication is vital. We are here to help. 

Secured Loans

Secured loans are any amount you apply for which falls below or is equal to your shares.​ The amount of shares up to the amount of the loan is held as collateral.
Obtaining a secured loan is a quick process which involves completing a form in the office with one of our tellers and agreeing on an affordable repayment plan.
Funds can be paid instantly either in cash, cheque, bank transfer or a combination. No supporting documents are required.

Un-Secured Loans

BDS Credit Union welcome and consider loan applications up to £12,000. Each application is treated in the utmost confidence and will be considered on it own merits.
Eligibility of each Loan request is based on a Shares Ratio;
1st Loan can be up to 2 x shares and under £5000
2nd Loan can be up to 3 x shares (Loans can be granted up to 4 x shares at the discretion of the loan committee based on past savings and loan history)
Supporting documents are required.

Loan Calculator

Standard Loan Rate – 10.8% Loans covered by Shares – 6% Loans > £20k – 8%

Loan Calculator