Loan in Principle

Not a member? At BCCU, we can assess your loan application before you join.

What is a loan in principle – A loan in principle is also known as a Decision in Principle (DIP) and an easy way for you to find out if BCCU, would be able to lend to you before joining the Credit Union.

What you will need – 3 months bank statements, end of year accounts or end of year tax return (If self-employed) and confirmation to complete a credit check against you.

It’s important to note, though, that this is a loan in principle and does not guarantee the loan is approved until a full assessment is completed.

If you are interested in completing a loan in principle application, contact our Credit Team today on 028 256 49010 or via email creditteam@bccu.co.uk

Join our credit union community supporting all our members

The benefits of borrowing from us

Easy application online or in branch

Documents can be sent digitally for signature

No early repayment fees or penalties and no hidden fees

Repayments are flexible and tailored to suit the individual’s needs

Interest is charged only on the outstanding reducing balance

Free Loan Protection Insurance

Our Loan Rates

No deposit, no conditions, no hidden fees.

Loans up to £7,499

Loans up to £7,499

12% (12.68% APR)

Min Term 1 month

Max Term 60 months (5 years)

£7,500 - £14,999

£7,500 - £14,999

9.95% (10.42% APR)

Min Term 1 month

Max Term 96 months (8 years)

£15,000 - £34,999

£15,000 - £34,999

8.5% (8.84% APR)

Min Term 1 month

Max Term 120 months (10 years)

£35,000 - £70,000

£35,000 - £70,000

7.5% (7.78% APR)

Min Term 1 month

Max Term 120 months (10 years)

Secured Loan

Secured Loan

6.9% (7.12% APR)

Min Term 1 month

Max Term 300 months (25 years)

Savers Loan

Savers Loan

5.9% (6.06% APR)

Min Term 1 month

Max Term dependent on amount

Loan Calculator

Apply for a loan with interest rates that suit you!

Maximum Loan Amount :
Maximum Loan Term :

£

Term

Repayment Frequency
£
APR
12.68%
# Repayments
Total
£
APR
12.68%
# Repayments
Total
£
APR
12.68%
# Repayments
Total
£
APR
12.68%
# Repayments
Total

This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.

Representative Example

The example will help to show you the typical costs associated with a loan

Loan Amount

£7,500

Rate of interest - APR

10.42%

Loan Term

3 Years

Total Interest

£1208.38

Monthly Repayment

£241.92

Total Cost of Credit

£8708.38

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