You can use our loans for almost any purpose such as buying a car, a holiday, school uniforms, or to help manage your existing borrowings.
We do not offer loans for:
- Speculative purchases, for example: gambling, investments and share purchases.
- Any illegal purpose, for example to repay a loan shark.
- Business related purposes.
- Buying or leasing land or property.
- Timeshares or holiday clubs.
These are our main loan types: click on the links to find out more about each one.
Family Loan
£200 – £1,000
(3.0% per month, 42.6% APR)
For new and existing members who wish to repay their loan using Child Benefit payments. Initial loan of up to £500, rising to £1,000 after 2 years (subject to eligibility). Top-ups available every 4 months.
Acorn Personal Loan
£200 – £5,000
From 1.9% – 3.0% per month, 25.3% – 42.6% APR)
For new and existing members who have not previously saved with Acorn Community Bank. Top-ups available when 50% of the loan has been repaid.
Loyalty Savers Loan
£500 – £15,000
(From 0.5% – 2.5% per month, 6.1% – 34.5% APR)
For members who have built up savings with us, and who wish to use their savings as security for a larger loan. Top-ups available when 50% of the loan has been repaid.
Payroll Loan
£500 – £7,500
(From 0.5% – 2.5% per month, 6.1% – 34.5% APR)
If you work for an Acorn Payroll Partner listed on the application form pick list. Top-ups available when 50% of the loan has been repaid.
With all our loans, members are asked to save money into a locked account for the duration of their loan.
Interest rates are indicative and are subject to individual circumstances and status. We carry out credit history and affordability checks as part of our assessment
