Features & benefits
Sometimes life would be better with a few improvements. If your kitchen needs a makeover, your car is past its sell by date, or you just need a well-earned holiday but don’t have all the money you need, then a personal loan can help. It can give your finances a boost and make life just that little bit more flexible.
- Borrow from £500 for any purpose, with the option to repay over one to five years.
- No initial set up fee.
- No extra charge if you want to repay early.
- Choose a repayment date that suits you.**
- As a responsible lender, we discuss the loan to fit with your finances so you’re comfortable with your repayments.
- Fixed repayments – interest rate changes can’t affect your loan repayments.
- Rates are tiered based on amount borrowed and the type of current account you hold with us.
- Instant decisions just a call or visit away.
- Hassle-free borrowing, with money in your account the same day your loan is agreed when you apply at a branch.‡
** Excludes 29-31 of the month within 35 days of opening the loan.
‡ Loans are transferred between the hours of 9am-8.30pm or by 9am the following day outside of these times.
Eligibility
How much we lend, the rate available to you and the issue of a loan or a credit card is subject to our assessment of your circumstances. You must be 18 or over and resident in the Channel Islands or Isle of Man to apply.
Interest rates
Current Interest Rates.
Loan rates are correct as at 1st February 2012.
Standard Personal Loan Rates.
| Loan Amount. |
% APR* |
| £500 – £4,999 |
14.90% |
| £5,000 – £9,999 |
11.90% |
| £10,000 – £14,999 |
9.10% |
| £15,000 and over |
8.70% |
Island Gold Personal Loan Rates**
| Loan Amount. |
% APR* |
| £500 – £4,999 |
12.50% |
| £5,000 – £9,999 |
10.50% |
| £10,000 – £14,999 |
8.70% |
| £15,000 and over |
8.50% |
Island Premier Personal Loan Rates**
| Loan Amount. |
% APR* |
| £500 – £4,999 |
10.60% |
| £5,000 – £9,999 |
9.60% |
| £10,000 – £14,999 |
8.50% |
| £15,000 and over |
7.70% |
*APR: Annual Percentage Rate - The interest payable on what you've borrowed is added up along with other charges (e.g. arrangement fees) and then expressed as an annual rate of charge. The APR helps you compare the true cost of borrowing. The APR takes into account all fees and charges applied to the loan as well as the monthly payments over its life.
**You must be an Island Gold/ Island Premier Current Account customer to benefit from an Island Gold/ Island Premier Loan respectively.