Bring your Plans to Life
Home Improvement Loan
At Pentecostal Credit Union, our philosophy has always been to look at things differently. We understand the difference a home improvement loan can make to your home. Increasing comfort, adding space or bringing new life to a room that needs a makeover!
We will only propose home improvement loans with realistic terms, which you can pay back in a way that works best for you and we will always make sure you feel at home with the loan process. We don't charge administration fees or transaction charges and you can pay back your home improvement loan early without penalty, if that becomes an option.
Remember, in your local credit union, you are not a customer, you are a valued member. So, talk to us first!
Calculate your Repayments
Loan Calculator
Maximum Loan Term :
5%
5%
5%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Secured Home Improvement Loan
Representative Example
A representative example is a term used in financial regulations. The example will help to show you the typical costs associated with a loan for a certain amount.
Loan Amount
£60,000
Rate of Interest - APR
5%
Loan Term
10 years
Total Interest
£16,213
Weekly Repayment
£147
Total Cost of Credit
£76,213
The benefits of borrowing from us
Key features of our Loans
No arrangement fees
No hidden charges
No penalties for early repayment
No penalties for lump sum repayments
Fast and easy access to your funds
Repayment terms that suit you
As your loan is paid interest reduces
We lend what you can afford to repay
To apply for a loan, you must be over 18 and an existing member of The Pentecostal Credit Union.
By law credit unions cannot charge any more than 3% per month on the reducing balance of a loan. Currently the Pentecostal Credit Union charges new members up to 2% and our loyalty loans to members with substantial savings are charged at 0.8% per month.
The Association of British Credit Unions Ltd (ABCUL) have published a list of free debt advice.
Our loan calculator will give you an estimate of what your loan would cost if you were paying an interest rate of 1% a month on the reducing balance.
Simply choose the amount you would like to borrow, how often you would like to make your repayments, and how many months you would like to borrow the money for. The loan calculator will estimate what each repayment will cost you, the total amount you will repay and the total interest you will pay over the period of a credit union loan.
Kevin has been a credit union member for six months and has saved £450 by standing order at £75 per month. He borrows £900 over 12 months as a deposit for a flat. His monthly repayment is £79.97 including interest. He continues to save £20.03 per month as well and increases his standing order to £100. After 12 months the loan is repaid in full costing just £959.57.
Meanwhile his savings have increased to £690.36. Next time he could borrow over £2,000. Perhaps to buy himself a car, or to help with the costs of a higher education course.
If there is an emergency, the Credit Union would look very sympathetically at a loan request. Remember, one loan can never solve all your day to day financial problems, so it is within a member’s best interests to have a good payment/repayment record with the Credit Union.
There is no penalty for early repayment of a loan, and indeed, as interest on loans is repayable on the outstanding balance per repayment period, this would reduce the total interest paid. The current rate of interest is 1% on the outstanding balance weekly/monthly, which is equal to an APR of 12.68%.
Pentecostal Credit Union
Loan Application Process
Become a Member
Join Pentecostal Credit Union and avail of numerous tailored benefits, outstanding customer service and amazing community
Calculate your Loan
Estimate how much you could borrow and calculate your repayments: weekly, fortnightly, or monthly using our online calculator
Apply for a Loan Online
Apply for your loan from the comfort of your home with our new online loan application. Upload all your loan documents through our mobile app - no paper no stress!
Sit back and relax
Voilá! You are done! Our team are now reviewing your application, we will be in touch shortly to confirm your loan application.
Ready to Apply?
Are you ready to apply or do you need more information on our affordable loans? Click on "Apply Now" button to start your journey right now or click on "Contact Us" button to send us a message if you are unsure about your documentation, or still have other questions.
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