Borrow responsibly and build your credit history.
A personal loan from Clockwise could help you build or rebuild your credit history with clear, manageable repayments.
Keeping up with repayments may help show that you can manage credit responsibly.
Borrow a set amount and repay it over an agreed term, with a clear end date.
We look at your circumstances to help make sure the loan is affordable for you.
There are no application fees and no early repayment charges with Clockwise.
If you have a limited or poor credit history, getting accepted for affordable credit can be difficult.
A personal loan from Clockwise could help you build or rebuild your credit history by giving you a clear, manageable way to borrow and repay. Making your repayments on time may help show future lenders that you can manage credit responsibly.
Your credit score can be affected by many things, so improvement is not guaranteed. Missed or late payments may also harm your credit history.
Loan Repayment Calculator
Estimates only. Actual rate depends on eligibility.
This calculator uses a standard amortisation formula for an estimated repayment.
Are you looking to borrow money? Using a Credit Union could be the right decision.
Personal Loan Interest rates:
The interest rate depends on the amount you borrow from Clockwise
- From £50 to £2,999 at 42.6% APR
- From £3,000 to £10,000 at a representative APR of 21.9%
- Maximum Annual Percentage Rate (APR) is 42.6%.
- Minimum period for repayment is 90 days.
- Maximum period for repayment is 60 months.
Loan Repayment Example
You can borrow from £50 to £2,999 at 42.6% APR
A loan of £500 paid back over 12 months would mean a
monthly repayment of £50.24 and total repayable £602.82
You can borrow from £3,000 to £10,000 at a representative APR of 21.9%. Depending on your circumstances, the APR will range between 29.3% to 16.1%
A representative loan of £3000 paid back over 24 months at 21.9% APR would mean a monthly repayment of £152.64 and total repayable £3663.35
There are no application fees or early repayment fees.
As part of your application, you may be asked to complete a credit check.
What is a
Credit Builder Loan?
Borrow responsibly
A Credit Builder Loan is for people who want to borrow responsibly while building a stronger credit history over time.
Make regular repayments
You borrow a set amount, repay it over an agreed term, and make regular repayments. If you keep up with those repayments, this may help show that you can manage credit in a responsible way.
Affordability comes first
At Clockwise, we look at your circumstances and affordability before making a decision. We will only lend where we believe the repayments are affordable.
3 Simple Steps to Approval
Check Eligibility
Apply in 2 minutes. We check your affordability without harming your score.
Review
Our local underwriters look at your story, not just a credit number.
Instant Transfer
Once approved, funds go straight to your account.
Built on trust.
Fully Regulated
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA). Your savings and loans are safe with us.
A Member, Not a Number
When you borrow from us, you become a member of the Clockwise community. We look at your individual circumstances, not just an automated credit score.
36,000+
Active Members
£30m+
Lent Locally
Fair finance, built around our members
As a member-owned, not-for-profit credit union, our focus is on improving our members’ financial wellbeing and supporting our local communities. We consider loan applications from people across our communities, including those receiving benefits, subject to eligibility and affordability checks.
- Member-owned and not for profit
- Applications considered from across our communities
- Benefit income can be considered
- Money reinvested into local communities
- Eligible deposits protected by the FSCS
- Fair and affordable financial services
Areas we serve
You can join Clockwise if you live or work in one of the following local areas.
- Leicester
- Leicestershire
- Rutland
- Coventry
- Warwickshire
- Nottingham
- Nottinghamshire
Ready to build
your credit history?
A personal loan from Clockwise could help you borrow responsibly and make regular, manageable repayments.
Apply for a Credit Builder Loan
Clockwise Credit Union is authorised by the Prudential Regulation Authority
and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
All loans are subject to status, affordability and approval. Making repayments on time may help your credit history, but improvement is not guaranteed. Missed or late repayments may harm your credit history. Terms and conditions apply. If you do not meet the criteria for a specific lending rate, or if you are unwilling to accept any special conditions that apply, then we may offer you an alternative loan at an alternative rate.