Acorn Personal Loan
Our Acorn Personal Loan product is a convenient way for you to borrow money for any purpose.
- You may borrow between £200 and £5,000.
- Repayments are made by Direct Debit, Standing Order or Child Benefit payments.
- Interest rate is between 1.9% per month (22.8% APR) and 3.0% per month (42.6% APR), depending on the size of the loan.
- Repayment period up to 48 months.
- You will be required to save alongside your loan at the rate of £3 per week (for a loan of up to £1,000), or £4.00 per week (for a loan up to £5.000). These savings cannot be withdrawn while the loan is in place.
- You may apply for a top-up when 50% of the loan has been repaid.
- If you top up your loan before it is paid off, Your required savings will be retained in your account.