BACK TO SCHOOL LOAN
Key Features:
Affordable Loans
No Fees
No Early Repayment Charges
All loans are subject to lending application criteria and affordability checks
Simple Application
This loan combines savings and a £250 loan to help those with low credit scores. It could;
- Build your credit profile
- Improve financial literacy
- Achieve financial stability
£50 Savings Incentive:
- £10 in your credit union account within a month of the loan completion if successful with your application.
- £40 in your credit union account within a month of paying off your loan if you keep up repayments, paid at the end of your loan
About Back to School Loans
Eligibility Considerations
- Any existing back to school loan you hold with BDCU must be settled in full before applying
- You should have maintained consistent loan repayments over the last 12 months
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 to sign electronically via email
- Once the paperwork has been signed by you, we will pay the funds to your nominated account
How do I apply?
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Select the amount and term you wish to apply for on the calculator below
THE RESULTS FROM THIS CALCULATOR ARE FOR ILLUSTRATIVE PURPOSES 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
We use credit reference agencies and open banking to help us make decisions on the loan amount and the rate charged to members.
- There will be an insolvency register check completed which will leave a credit footprint.
- Loans will be considered whether you are in an active IVA or Debt Relief Order.
- Missed payments, defaults, and CCJs are not factored into the decision on your loan application.
- We do not lend if you have an active Bankruptcy ongoing, or one has recently come to an end.
- Please contact us for further information if you are unsure whether you will be eligible to apply by emailing loans@bdcu.co.uk.
For more help and information, check out our money tips. (link to https://bdcu.co.uk/money-tips/)
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Authorised by the Prudential Regulation Authority and Regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Registration Number 213934. Mutual Society Number: 389C. Companies House Registration Number IP00389C. Registered in England and Wales.