Borrowing from NewCred

NewCred can help you choose a repayment plan that suits your circumstances, which means that there is no need to worry if they change and you wish to alter the plan. You can also repay your loan in full at any time without penalty or additional charges.

You are able to apply for a loan after saving for a minimum of three months.

 

Savings are held as security and cannot be withdrawn until loan repaid

The maximum loan available is £10,000 and loans can be repaid for periods up to five years.

Interest rates charged at 1.5% per month on the reducing balance (approx 19.6%APR).

Example: 1 Year@19.6%

Loan Value	Monthly Payment	Total Payment
£500	£47.28	£567.36
£1000	£94.56	£1134.72
£1500	£141.83	£1701.96

To assist you with your finances, you can download our budget planner