Don’t let payday loans put you on the wrong foot this year.
Christmas may be out of the way (and we hope you had a great festive season with family and friends) but of course, spending doesn’t stop there.
You might already be thinking about a holiday later in the year (possibly even next month if work stress is creeping in). Maybe your “new year, new you” plan involves a fitness kick or a personal trainer. Whatever the reason, payday loans aren’t the answer.
While the quick access and minimal credit checks can seem convenient, payday loans often come with very high interest rates and are designed for people who don’t have access to more affordable credit. That’s where Northern Community Bank can help.
Northern Community Bank: your answer to payday loans
If the question is, “Where can I get fair, affordable finance when I need it?”, there’s only one real answer.
Northern Community Bank has spent more than four decades supporting people in our communities. And if there’s one thing we’ve learned from speaking to thousands of account holders over that time, it’s that poor credit is common – and it doesn’t define you or your future.
That’s why we carefully assess each applicant’s personal circumstances. Our loan decisions are based on affordability, not just your credit score, and repayments are tailored to suit you.
And the best bit? Community Bank loans are cheaper than payday loans. Borrow £500 through our Family Loan and Savings Scheme over 12 months at 42.6% APR and you’ll pay £96.92 in interest. Even over a longer term, it’s still cheaper than a payday loan.
Take your time
If there’s one New Year’s resolution worth making this year (and sticking to) it’s taking your time over any big financial decisions.
Before you even consider payday loans, come and speak to us. Better still, start by using the loan calculator on our website. It’ll give you a clear idea of what your repayments and interest could look like with a Northern Community Bank loan.
If you decide to take out a loan with us, and we have all the information we need, you’ll receive a decision within 48 working hours. Once your loan is signed, the money can be in your account the same day. There are no early settlement fees, and all savings and loans come with free life insurance (subject to T&Cs).
If you still have questions, don’t hesitate to get in touch. Our friendly account support team is always on hand to help.
