White Cart Credit Union Loan Calculator
Check basic eligibility and estimate repayments at 1% interest per month, charged daily on the decreasing balance.
Effective APR
12.7%
Estimated monthly repayment
£0.00
Total repayable
£0.00
Total interest
£0.00
Estimated repayment schedule
| Payment | Date | Days | Opening balance | Payment | Interest | Capital repaid | Closing balance |
|---|
Loan rules used
- You must have been a member and saved for at least six weeks before applying.
- Membership costs £1.
- Loans are available up to a maximum of £5,000.
- Interest is charged at 1% per month and calculated daily on the decreasing loan balance.
- There are no set-up or arrangement fees.
- There is no penalty for repaying the loan early.
- All applications are assessed individually and the amount offered may be lower than requested.
- Loans include free life insurance, subject to the applicable terms and conditions.
This calculator provides an estimate only and is not a loan offer. It assumes equal monthly repayments. For calculation purposes, the daily rate is derived from the stated 1% monthly rate using an average month length of 365 ÷ 12 days. Actual figures may vary slightly depending on payment dates, rounding, approval, personal circumstances and the credit union's final calculation method.