Handy Loans


Our Handy Loans are to help with short term needs. Supose you need to replace your TV, your fridge or your washing machine. Don't buy from a catalogue or go to a rent-to-buy store that offers apparently low monthly repayments that quickly add up over time. In most cases, it's much cheaper to take out one of our Handy Loans and use it to buy in cash.

  • Borrow between £250 and £500.
  • Repay within 12 months, less if you wish.
  • Repay weekly or monthly.
  • Interest rate 2.5% per month (34.49% APR).

How much will it cost?

It depends how much you borrow, and for how long. For example:

  • Borrow £500 and repay in 12 months: this will cost £48.74 per month and you'll pay £584.92 in total
  • Borrow £300 and repay in 6 months: this will cost £54.46 per month and you'll pay £325.79 in total

Outline terms & conditions

  • If you're not a member, you need to join MBCU.
  • You must complete a standing order to repay the loan weekly or monthly, or must fix a day/time to repay in-person each week or each month.
  • You must complete a Handy Loan Application Form Click Here to Download Form 1 and then Click Here to Download Form 2.
  • You must provide evidence of a regular income.
  • Loan repayments will normally be no more than one-tenth of that regular income.
  • We reserve the right to charge a non-redundable fee of £4 to check for CCJs.
  • You may be asked to speak to us over the phone or attend a face-to-face meeting to help us decide whether to offer a loan.