Make 2018 the year you take control of your finances

Using credit or store cards over the festive season may seem convenient at the time, but can leave you with a financial hangover in the New Year.

Enter the details of your existing debts into our calculator and see how much you could save with our award-winning consolidation loan.
Loans are exclusive to members, who must save at least £10 per month together with their loan repayment.

Debt Consolidation Calculator

Type of Debt

Balance Outstanding

Monthly Repayment

Debt

£ £
Add another debt

Total Existing Debt

£

Current Monthly Repayment

£

I'd Like to clear my debt in

Months
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Credit Card Minimum Repayment

Only making the minimum repayment to your credit card each month can have a huge impact on the length of time it will take to clear your balance.

Did you know that it would take you 21 years and 7 months to repay a balance of £1,500 on a credit card with a typical interest rate of 17.9% if you were only to make the minimum payment every month?

The faster you repay the balance, the less interest you will pay.

Source: moneysavingexpert.com

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Benefits of our consolidation loan

  • Quick and easy application
  • Instant decision on your loan
  • Fixed repayments over 1 to 7 years
  • Clear interest rates guaranteed not to change after application
  • We help you grow your savings alongside your loan repayments
  • Free loan protection insurance*

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PERSONAL LOANS

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ADDITIONAL BORROWING

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BUDGET LOANS

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IMPORTANT INFORMATION

Glasgow Credit Union does not offer advice on debt consolidation loans.
Free independent advice on consolidating debts can be found through the Money Advice Service.

You will receive an instant decision on your loan, followed by a confirmation email. In some cases, we may need to ask you for more information to help us make a decision.

  • A consolidation loan isn’t for everyone. It may mean repaying the debt over a longer period. As a responsible lender, we encourage members consolidating their debts to close the accounts with existing lenders, to avoid building up debt again.
  • All loans subject to status and meeting our lending criteria. Terms & Conditions View all loan rates.
  • If you have difficulty repaying your loan, download our leaflet to see your options

* In the event of your death, your loan will be paid off in full. Restrictions apply.

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You are now applying for a personal loan

Please check first that you are eligible to apply:

  • You are aged 18 or over
  • You have a UK bank account in your own or joint names
  • You are a permanent UK resident
  • You have never been bankrupt or had a Court Decree

To complete your application you will need:

  • Your current employer's address details
  • Details of monthly income and outgoings
  • Bank or building society details (sort code and account number)

To enable us to make a decision on your loan application we will contact Credit Referencing & Fraud Prevention Agencies. This will register a search against your credit record and if your application is successful we will share the information we hold for you with these agencies. Further details are available in our Fair Processing Notice

It is important that you read the Fair Processing Notice document above. If there is anything that you do not understand, please contact us.

Are you happy to proceed with an application?

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Loan Term

Please be aware that the longer you take to pay back a loan, the more you will pay back in interest. If you go for a shorter term your monthly repayment might go up, but you'll save in interest and pay back your loan faster.

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