Our Personal Loan is for loans from £50 to £7,500
Last year our fastest loan turnaround was only 2 minutes! We’ll aim to give you an instant decision or we’ll let you know within 1 working day and put the money into your account the same day
✅ All Credit Histories Considered
✅ Quick Decisions
✅ Repayments To Suit You
✅ No Application Fees
✅ No Early Repayment Charges
✅ Bad Credit OK
✅ Benefit Incomes Accepted
How much can I borrow?
Our personal loan is for anything between £50 and £7,500. How much you will be able to borrow will depend on your personal circumstances. You can use our loan finder to get an idea of the amount you could borrow from Clockwise.
What is a Credit Union?
A Credit Union is a financial cooperative owned and controlled by its members. Much like a High Street bank, Credit Unions can provide savings, loans and a range of services to their members. Unlike a bank, Credit Unions do not have to answer to shareholders or investors. So the emphasis is always on providing the best service to members – not maximising profits.
The maximum any credit union will ever charge for a smaller loan is 3% per month on the reducing balance, which works out as 42.6% APR. This means the most expensive credit union loan in Britain is still eight times cheaper than a payday loan charged at their cap.
While highstreet Banks may be able to lend with a lower APR than a Credit Union, banks usually require a very strong credit history which can make it difficult to be accepted. As a Credit Union, we consider all circumstances and Credit History.
Interest Rate
The interest rate depends on the amount you borrow from Clockwise
From £50 to £2,999 at a maximum 42.6% APR*
From £3,000 to £7,500 at 16.1% APR*
There are no application fees or early repayment fees.
Example: You could borrow £500 at 42.6% APR from Clockwise over 12 months. Your repayment would be £50.23 every month. The total you would pay is £602.76
See how we stack up against other lenders with our Loan Calculator below!
Things you should know
- You must be up to date on any current or previous borrowing with Clockwise Credit Union.
- You must have the disposable income to meet the loan repayment.
- Maximum loan term is 60 months.
- Minimum loan term is 60 days.
* All loans are subject to status and approval. 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.
