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Product Information

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 These savings cannot be withdrawn while the loan is in place.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 30% 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.