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.
Loyalty Loan
Borrow more at lower rates with our loyalty loan.
Our Loyalty loan is perfect for those members who have been saving and want to make their next big purchase or financial move. With this loan, you can apply for up to 5 times your savings balance at low interest rates. To be eligible to apply for a loyalty loan you will need to save regularly for at least 3 months and build a savings balance equal to 30% of the loan amount requested. For example, if you want to borrow £12,000, you’ll need to have saved £3,600.
Borrow more: Borrow between £500 to £15000 based on your savings balance and enjoy low-interest rates ranging from 0.5% per month (6.2% APR) to 2.5% per month (34.5% APR) depending on the loan size.
Easy repayments: Repay your loan over a period of up to 60 months with flexible options such as Direct Debit, Standing Order, or Child Benefit payments.
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 until the loan is paid off.
Eligibility includes required savings balance, credit, and affordability checks, ensuring the loan is tailored to your financial situation.
Apply today and enjoy the benefits of our Loyalty Loan to turn your savings into an opportunity!
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Eligibility
- Aged 18 or over.
- A member of Acorn.
- Can provide proof of ID and regular income.
- Has accumulated the required savings balance over at least 3 months.
- Make the required contributions towards locked savings.
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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.
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Your Loan
- £500 – £15000.
- 0.5% – 2.5% interest per month (6.2% – 34.5% APR).
- Loan term of up to 5 years.
- Loan repaid through direct debit, standing order or child benefits.
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 | £49 | £8 |
| £5000 | 36 months | £167 | £16 |
| £15000 | 60 months | £291 | £20 |
Benefits of this loan
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Flexible financial support
Borrow up to £15000to cover a wide range of personal expenses at a very low interest rate.
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Fair eligibility checks
Tailored loans based on your savings balance with Acorn, credit and affordability assessments, ensuring responsible lending.
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Convenient & affordable repayments
Repay by setting up direct debit/standing order or child benefit and spread the cost over up to 5 years.
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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.
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Save while you borrow
Save a portion of your repayments and build a safety net while paying off your loan.
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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.
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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.
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Saving while borrowing: Members are encouraged to save alongside loan repayments, helping build a financial safety net for the future.
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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.
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.
App download
Managing your finances should be simple and accessible. Our user-friendly Acorn mobile app puts you in control.
- 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.
- Fast & efficient processing: Most of the necessary checks are automated, ensuring efficient processing and quicker response.
- Application tracking: Monitor the progress of your loan application as it moves through each stage and easily upload requested documents. In the testing phase.
- Enhanced security: The Acorn app is equipped with PIN protection, ensuring your information remains safe and secure.
- 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.