If you're looking to save money on your energy bills, but don't have the ready cash, a Home Energy Loan is the one for you. Because we'd like to reduce energy costs and energy use, we're offering a lower interest rate of 1.5% per month (19.6% APR).
- Borrow up to 3 rimes your current balance with MBCU..
- Repay within 5 years, sooner if you wish.
- Repay weekly or monthly.
- Interest rate 1.5% per month (19.6% APR).
How much will it cost?
It depends how much you borrow, and for how long. For example:
- Borrow £2000 and repay in 24 months: this will cost about £100 per month and you'll pay about £2400 in total
- Borrow £1000 and repay in 12 months: this will cost about £92 per month and you'll pay about £1200 in total
Outline terms & conditions
- You must have been a member of MBCU for at least 13 weeks.
- 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 Loan Application Form Click Here to Download.
- Bring the form along to the office, together with a quotation from an authorised installer.
- You must provide evidence than you can maintain the monthly payments for the agreed term of the loan.
- We reserve the right to charge a non-refundable 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.