Saver Loans
Our ethical Saver Loans are designed to turn borrowers into savers. Each time you make a loan repayment, a portion of your money will be put into your savings account. So when you’ve paid off your loan you will have money in your savings to spend or continue saving with us.
Representative example: Borrowing £00.00 over Months will cost £00.00/month. Total amount repayable is £00.00 which includes interest at 42.6% APR. The figures given above are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.
Lorem ipsum dolor sit amet, consectetur adipisicing elit. Beatae dolore rerum magni ullam atque nisi possimus consequuntur quas, labore cum? Dignissimos provident ex similique dolor. Veniam doloribus dolorum atque a?
£00.00
Representative example: Borrowing £00.00 over Months will cost £00.00/month. Total amount repayable is £00.00 which includes interest at 42.6% APR. The figures given above are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.
Our Saver Loans have two simple components to the repayment:
Loan Repayments:
The loan repayment goes towards paying off your loan and the interest. The savings component is put into your own savings account and is held in there until the loan period has finished and you have repaid the money owed.
Savings Deposit:
This means that our members have created a savings pot for themselves – often for the first time in their lives! So when the Saver Loan has been paid off, they can enjoy having a savings pot and hopefully get out of the cycle of being in debt.
Turning Borrowers into Savers at Wave Community Bank
Terms & Conditions
We will need proof of your income including any wages, self-employment income and benefits. Each loan application is assessed on an individual basis and takes into consideration a variety of factors including the affordability of the loan, previous savings and borrowing patterns with Wave Community Bank, credit history and so on.
PLEASE NOTE: Your credit score will be adversely affected if you are late or fail to keep up with payments on a loan.
Representative Example
Borrowing £1500 over 24 months will cost £76/month. Total amount repayable is £1903 with includes interest at 26.82% APR. The figures given above are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.
Loan Repayments
You will be asked to make repayments by direct debit or through a payroll scheme. Repayments can be made in line with how you receive your income – weekly or monthly.
If you miss a repayment Wave Community Bank reserves the right to deduct the repayment from your savings.
If your circumstances change and you have problems meeting your repayments, please contact our Loan Support Team. Failure to meet repayments could have a serious effect on your credit report.
All loans provided by Wave Community Bank are subject to status and our lending policy. Applicants must be aged over 18.
Wave Community Bank reserves the right to decline any application or offer a loan that differs from those advertised.
PLEASE NOTE: Your credit score will be adversely affected if you are late or fail to keep up with payments on a loan.
Family Saver Loans
Pay back your loan using your child benefit with our Family Saver Loan to help pay for school uniforms, furniture for children’s rooms and any other needs your family may have.
Debt Consolidation Loans
If you’re struggling to manage your debt and have unpaid bills such as credit cards then find out more how you can save money with our Debt Consolidation Loan.
Opening Hours
Our phones are open Monday to Friday between 9.30am-1.00pm and we continue to monitor our emails between 9.30am to 4.00pm.
Contact Us
Phone: 0300 303 3188
Email: info@wavecb.org.uk
Face-to-face appointments at Hove Town Hall by arrangement only.
Addresses:
East Sussex, Brighton & Hove:
Tisbury Road Offices, Hove Town Hall, Tisbury Road, Hove, BN3 3BQ
Kent, Medway and Bexley:
39-48 Marsham Street, Maidstone, Kent, ME14 1HH
Follow Us
Wave Community Bank serves members in East Sussex, Brighton & Hove, Kent, Medway and the London Borough of Bexley, plus members of Unite in the South East Region. Withdrawals over £5000 will take 5 working days to process
Wave Community Bank is a trading name of East Sussex Credit Union Ltd.Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FCA Firm no 213910
