Christmas Loan - Eastern Savings and Loans

03336 000690

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Christmas Loan

Spread the cost of Christmas

With our ethical and affordable Christmas Loan, you can spread the cost of this year, and save for 2024 all from the same payment. We take into account a range of employment situations, incomes and credit histories.  All loans are subject to a manual decision process, affordability and a credit check.

You can apply for our Christmas Loan the same day as you join our Credit Union. If you are looking for a loan to help spread the cost of Christmas, and live in North or Central Essex, Norfolk, Suffolk or Cambridgeshire, you can apply now. Please see the full list of all the Essex Post Codes we cover.

Join First

You do not need online access to apply for a loan, but you do need to be a member of Eastern Savings and Loans Credit Union.

Loan Application for Members
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03336 000690

Representative
Monthly Repayment £00.00 *
Total Repayment £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.

How to apply for a Christmas Loan

Join our Credit Union using the link above. Once you have completed a membership application, you can apply for a Christmas Loan.

We may ask you to give us read-only access to your bank statements through our trusted partner Consents.Online, this allows our loan officer to see the past ninety days of your bank statement over a secure connection. Alternatively, you can provide printouts of your bank statements, but this will take a few days longer to process while we wait to receive these.

If approved, we will send you a digital loan agreement to sign, with instructions on how to set up repayments to your Credit Union account. 

Your first repayment will stay in your Credit Union account available for you to withdraw. Your Christmas Loan will be transferred to your bank account the same working day we receive both the signed agreement and confirmation of repayments. After we take your loan repayment you can save for 2024 with our Christmas savings account.

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Loan Application for Members

FAQs

If you are a member of our Credit Union,  you could have a loan of up to £1,500 from us for Christmas. This is conditional upon you setting up repayment via Child Benefit, Standing order or payroll deduction into your account with us and passing our affordability and credit checks. All Christmas loans need to be repaid in 12 months. 
Anyone who lives or works in Norfolk, Suffolk, Cambridgeshire, North or Central Essex or works for one of Payroll Partners can join ESLCU and apply. Please see our Full list of Partners or Common Bond Page to check the areas we cover.
If your loan is approved, you will need to sign a loan agreement. We will release the funds the same day we confirm repayments and have the signed loan agreement back.
You can top up your loan when you have paid ½ of your original loan. You can track the balance of your loan by registering for online banking, or calling us on 03336 000690
Once you have repaid ½ of your original loan, you will be eligible to apply for a starter loan. The amount we lend you will depend on your income and expenditure and passing a credit check.
When making repayments for a Christmas loan you can also save for next year. Part of it will be used to make your loan repayments, the remaining will be paid into your share account. We will then transfer it into your Christmas saving account if you would like.
You can call us on 03336 000690 or register for online banking and request a transfer. All transfers are normally processed within 2 hours.
You can clear the balance of a loan at any time and we do not charge any fee for this.
We are unlikely to lend to someone currently subject to or recently exited from a DRO, IVA or bankruptcy. You are welcome to open an account and use it to save for a rainy day.
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Christmas Saving

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Members of ABCUL

Members of ABCUL

Your money is protected up to £85,000

Your money is protected up to £85,000

Authorised and Regulated by the Prudential Regulation Authority

Authorised and Regulated by the Prudential Regulation Authority

Members of ABCUL

Your money is protected up to £85,000

Authorised and Regulated by the Prudential Regulation Authority

© 2023 Eastern Savings and Loans | We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority. Our FRN is 213756.

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