BMDC Loan
The loan ranges from £2,500 up to £25,000, with interest rates starting from 7.9% APR.
With over 3,000 members, Bradford Council or the Children's Trust are our largest payroll partners, allowing us to offer exclusive rates to all staff.
This exclusive offer is open to both New and Existing BDCU members. who are employed by BMDC or the Children's Trust.
Important information: This rate is not available for the purpose of debt consolidation. To find out more information on our Consolidation Loan rates, click here.
Key Features:
Affordable Loans
No Fees
No Early Repayment Charges
All loans are subject to lending application criteria and affordability checks
The Application Process
Once your application has been submitted, we will request the required documentation to assess your application
Once everything has been received, you will receive a decision within 2-3 working days
If approved, paperwork will be sent to you via email to sign electronically.
Once the paperwork has been signed by you, we will pay the funds to your nominated account.
Please note that payments are normally received within 48 hours.
THE RESULTS FROM THIS CALCULATOR ARE FOR ILLUSTRATIVE PURPOSE ONLY AND DO NOT GUARANTEE A LOAN OFFER. IF YOUR APPLICATION IS SUCCESSFUL, THE ACTUAL LOAN AMOUNT, INTEREST RATE, AND OTHER TERMS MAY VARY BASED ON A DETAILED ASSESSMENT OF YOUR PERSONAL CIRCUMSTANCES.
How we make lending decisions
Our credit union loans are based on affordability, your credit report and any history of borrowing and saving with BDCU.
We use credit reference agencies and open banking to help us make decisions on the loan amount and the rate charged to members.
Defaults and CCJs:
Whilst we can accept a loan if you have defaults, you’re more likely to be accepted if you haven’t missed a payment in recent months.
The same is true for County Court Judgments. An older CCJ won’t stand in your way, but more recent court action will probably prevent us from lending.
We cannot consider an application if you are currently going through bankruptcy, an Individual Voluntary Arrangement, Debt Relief Order or Debt Management Plan.
If you have recent defaults, CCJs or are insolvent do not apply for a loan. Submitting an application can actually cause your credit score to fall further because we'll carry out a credit search.
For more help and information, check out our money tips.