Designed as a starter loan, our Low Income loans have been created for new or existing members who do not qualify for a Share based loan.

Since this loan is secured against a benefit or wage the maximum loan is £400 and is charged at 3% a month on the unpaid balance. This loan product is a great way for members to build a good credit history and move on to other loan products.

  • I am 18 or over
  • I am (or willing to be) a member of 1st Alliance (Ayrshire) Ltd
  • I can afford the loan repayments and share deposits
  • I do not have an undischarged Bankruptcy or Trust Deed


Repayment Illustration

Based on Low Income Loan at 3%

  • If you borrow £400 at £10 a week (last payment is £9.60) your total interest will be £69.67.
  • If you borrow £400 at £40 a month (last payment is £2.23) your total interest will be £82.30.

The figures given above are for illustrative purposes only. The actual interest rates and repayment amounts may vary subject to loan amount and status.


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