Loans
Borrow from a neighbour, not a hedge fund.
Six loans, one principle: the longer you save with us, the less you pay to borrow. Every rate below is charged monthly on the reducing balance, so as your loan shrinks the interest you pay does too.
- From £100 upwards
- Decisions made in Douglas
- Repay weekly, fortnightly or monthly
- Interest charged on the reducing balance
Loan calculator
Try the numbers before you apply.
Monthly repayment
£111.19
- Total paid back
- £4,002.67
- Cost of credit
- £1,002.67
- Rate
- 1.65% / month on the reducing balance
Indicative only. Interest charged monthly on the reducing balance. The representative APR for each product is provided in your pre-contract credit disclosure. Loans are subject to status, affordability and our underwriting.
Apply for Save as you BorrowEvery loan, side by side
Calculator ↑LoanRateAmountTerm up toBest for
- Basic LoanOur everyday loan for members building a savings habit.
- Rate
- 2% / mo
- Amount
- £500–£5,000
- Term up to
- 5 yrs
- Best for
- Members with savings
- Save as you BorrowBuild savings while you clear the loan. Same payment, two outcomes.
- Rate
- 1.65% / mo
- Amount
- £500–£5,000
- Term up to
- 5 yrs
- Best for
- All members
- Loyalty Saver LoanOur best rate for members who've been saving with us.
- Rate
- 1% / mo
- Amount
- £500–Savings
- Term up to
- 5 yrs
- Best for
- Members with prior savings
- Starter & Emergency LoanA small, fast loan for new members or unexpected costs.
- Rate
- 3% / mo
- Amount
- £100–£500
- Term up to
- 1 yr
- Best for
- Members new to MCU or facing a one-off cost
- Family Loan & SavingFor families on State Benefits or pension, repaid straight from the benefit.
- Rate
- 3% / mo
- Amount
- £100–£500
- Term up to
- 1 yr
- Best for
- Recipients of State Benefits or Isle of Man State Pension
- Premier LoanOur lowest rate. Keep your savings invested, borrow against them.
- Rate
- 0.5% / mo
- Amount
- £500–Savings
- Term up to
- 5 yrs
- Best for
- Members borrowing up to their share balance