Making loans more affordable.

Our charges

Our Wee Glasgow Loan won't weigh you down with sky high interest rates and are charged at 2% per month or 26.8 APR

The illustration below shows how much you will save in interest charges if you take out a Wee Glasgow Loan compared to a typical payday loan.

Typical payday loan
Loan amount £400 £400
Number of days 30 30
Interest rate 26.8% 1500%*
Interest charges £8 £96
Optional same day payment £5 0
 

Same day faster payment — If you need your loan paid into your current account on the same day, the credit union incurs a small charge for this service which we will pass to you.

If you prefer not to pay this charge, we could pay your loan using a BACS payment which would take 3 working days for the money to be credited to your current account.

We do not charge for:

1. Late payments — if you pay your loan later than the agreed date, we do not charge you any penalties. You will only pay the interest accumulated on your loan on a daily basis and that is it.

2. Early payments — if you pay your loan earlier than the agreed date, we will only charge you the interest rate accumulated on a daily basis at 26.8% APR by the settlement date. For example, for a £400 loan, the daily interest rate of 27pence will be accumulated for each day the loan is outstanding and nothing else.


Loan repayment period

You can can choose to repay the loan over a period of between 1 and 12 months to make it more manageable.

If you decide to repay a loan earlier than the agreed date, we will only charge you interest on a daily basis at 26.8% APR from the time you took out the loan to the settlement date.