Acorn Loan

Make your financial goals a reality with our Acorn Loan

At Acorn Community Bank, we believe that everyone should have access to the financial services they need to turn their dreams into reality. Whether you’re planning to purchase your first car, renovate your kitchen, take a family holiday abroad, or consolidate existing debts, our Acorn Loan is here to help you achieve your goals.

Borrow with ease: Borrow up to £5000 and repay it over 4 years. The loan is offered at a fair interest rate between 1.9% per month (25.4%) and 3% per month (42.6% APR) depending on the size of the loan.

Easy repayments: Loan repayments can be set up as Direct Debit, Standing Order or bank transfers.

Save as you borrow: Build a financial cushion while repaying your loan. Save £3 per week for loans up to £1,000, £4 per week for loans up to £5,000, and £5 per week for loans above £5,000. These savings remain locked in until the loan is paid off.

Eligibility includes credit and affordability checks, ensuring the loan is tailored to your financial situation.

Start working toward your financial goals today.

Apply for an Acorn Loan and take the first step toward achieving your dreams with confidence.

Apply today

  • Eligibility

    • Aged 18 or over.
    • A member of Acorn.
    • Can provide proof of ID and regular income.
    • Make the required contributions towards locked savings.

  • Terms & Conditions

    • No fees or penalties for early repayment.
    • Loans subject to credit search and other lending checks.
    • All members with a loan need to commit to the required locked savings. Savings will be locked until loan is repaid.

  • Your Loan

    • £500 – £5000.
    • 1.9% – 3% interest per month (25.4% – 42.6% APR).
    • Loan term of up to 4 years.
    • Loan repaid through direct debit, standing order or bank transfer.

What might you pay?

 

The figures below are illustrative examples of typical monthly repayments and total interest. Your exact repayment schedule will be confirmed once your loan is approved.

Loan Value Illustrated Payment Term Monthly Repayment Monthly Required Savings
£500 12 months £51 £8
£2000 24 months £112 £16
£5000 48 months £160 £16

Benefits of this loan

  • Flexible financial support

    Borrow up to £5000 to cover expenses like buying car, remodelling the house, family holiday, wedding debt consolidation etc.

  • Fair eligibility checks

    Tailored loans based on credit and affordability assessments, ensuring responsible lending.

  • Convenient & affordable repayments

    Repay by setting up direct debit/standing order and spread the cost over up to 4 years.

  • Top-up loan

    Top-up your loan balance after 6 months and once 30% of the loan has been paid off  subject to meeting the eligibility criteria.

  • Save while you borrow

    Save a portion of your repayments and build a safety net while paying off your loan.

Why choose Acorn for ethical, flexible and affordable loans?

We’ve designed our loans to be ethical, affordable and flexible because we know one size doesn’t fit all. Check out how our approach can work for you.

  • 1

    Community-driven: As a cooperative, at Acorn we prioritise your well-being, offering loans to help with essential expenses like education, home needs, and financial emergencies while promoting responsible borrowing and saving.

  • 2

    Affordable options: With fair interest rates and flexible repayment terms, Acorn ensures you can manage your loans effectively, with solutions tailored to your financial needs.

  • 3

    Saving while borrowing: Members are encouraged to save alongside loan repayments, helping build a financial safety net for the future.

  • 4

    Regulated and secure: Your money is safeguarded under the Financial Services Compensation Scheme (FSCS), offering peace of mind with every transaction.

Take control of your finances with Acorn’s affordable, flexible loans. Start saving while you borrow and join a community committed to your financial well-being.

 

Apply today!

Testimonials

  • “Acorn enables me to save monthly so that I can support people in the community, who may need a little help. It is easy to organise, and I know my money will be safe.”

    Keith – ⭐⭐⭐⭐⭐

  • The back-office support goes beyond expectations. There was a time when I called them because I could not make a withdrawal after logging in. It was simply because I had not logged in for a long time. I was immediately assisted to make the withdrawal.”

    Aggay – ⭐⭐⭐⭐⭐

  • “Easy access to your savings. Great customer service. They are always helpful and polite. When needing a loan, they are always quick to respond.”

    Jasmine – ⭐⭐⭐⭐⭐

  • “Excellent service, kind, friendly and efficient staff. I have used for savings and loans for over 10 years and trust them completely.”

    Debbie – ⭐⭐⭐⭐⭐

  • “I have been a customer with Acorn community bank for 20 years, they have always been very professional, very polite and interested in me. I have always been more than satisfied with the service I have received.”

    Chris – ⭐⭐⭐⭐⭐

  • “Love this credit union. Has great and unique savings products on offer that stand out from all other savings providers. Particularly for those who can only save modest amounts. Hopefully Acorn continues with offering these different and innovative savings products and add even more!”

    Richard – ⭐⭐⭐⭐⭐

  • “I have always struggled to save money in the past, but Acorn has made that easy for me.”

    Sandie – ⭐⭐⭐⭐⭐

  • “A wonderful asset to the community allowing one to save a little a week and build a contingency fund and get it if you need it. They are very friendly and helpful to talk to if you need help. Your savings helps others in need in the community get access to a loan with sensible APR’s.”

    Anna – ⭐⭐⭐⭐⭐

Struggling with loan repayments?

We understand life’s challenges can make repayments tough. At Acorn, we offer tailored support, flexible repayment plans, and guidance to help you stay on track. Act early to protect your financial health and credit rating.

? Call: 0303 030 0147
? Email: office@acorncb.co.uk

Need extra advice? Contact trusted organisations like StepChange, Citizens Advice, or National Debtline for free, impartial support.

At Acorn Community Bank, you’re not alone find out more on how we can support you. Let’s build a brighter financial future together. Reach out today.

Need help?

App download

Managing your finances should be simple and accessible. Our user-friendly Acorn mobile app puts you in control.

  1. Apply for loans anytime, anywhere: Can apply for a loan from the comfort of your home, at a time that suits you. Everything can be done from your phone or tablet.
  2. Fast & efficient processing: Most of the necessary checks are automated, ensuring efficient processing and quicker response.
  3. Application tracking: Monitor the progress of your loan application as it moves through each stage and easily upload requested documents. In the testing phase.
  4. Enhanced security: The Acorn app is equipped with PIN protection, ensuring your information remains safe and secure.
  5. Easy management: Track your loan repayments, access your transaction history, and check your outstanding balance with just a few clicks.

With the Acorn app, you can enjoy a convenient and secure way to manage your loan and take control of your finances. Download the Acorn app today and experience the convenience of banking at your fingertips.

Download app