We require two months’ bank statements to assess your loan application. The quickest, easiest way to provide these is through the links provided through the loan application as this gives us read only access to your accounts through Open Banking.

If you are unable to do this you can email two months’ of bank statements in PDF format to loans@wavecb.org.uk. These bank statements need to clearly show your name and address to be accepted.

We turn around most loan applications within three working days of receipt of all your information. Allowing us to have one-off read only access to your bank accounts when you apply will speed up the process and we often give you a decision in a few hours. There are instructions for doing this on the online loan application form. The quicker you can give us any additional information we ask for, the sooner you will get a decision.

Visit our loan calculator to see what the interest rate on a loan and your repayments might be. Please note these interest rates are for illustrative purposes and you may be offered a loan at a different rate based on your circumstances.

Loyalty Loans are our way of rewarding members with savings so they receive a more favourable loan interest rate. Find out more about them here.

No, anyone can apply for a loan with us. If we lend money to you, you will need to become a member of Wave Community Bank.

The best thing to do is ask for the amount of money you want. If we think a loan of that size is unaffordable to you, we may offer you a smaller loan.

We lend money for all sorts of reasons, from mobility scooters to cars, dentistry to home improvements and weddings to business equipment. We will only lend to you if the loan is affordable to you.

We have lent money to help people consolidate debts. If you apply for a debt consolidation loan , you will need to supply us with a breakdown of all the debts you want to consolidate as part of the loan application process.

We do look at your credit score and your credit history as part of our loan assessment process. We will also look carefully at affordability. All these elements are considered when we make a loan decision.

We do a ‘hard’ credit check which will show on your credit history. This may have an impact on your credit score.

If you work for one of our Employer Partners we can arrange for your loan repayments to be sent to us directly from your wages each pay day. You can see which employers are in the scheme here.

Some of our members repay their loans by having their child benefit payments paid directly to us to cover the loan repayments. You can ask for this to be your method of repayment when you apply for a loan.

Loans are available to members 70 and over who have been with us for 3 years or more. You can read our Over 70s Loan Policy here.