Pre-Approved Loan Application £2500

Need a loan? You're pre-approved!

This form allows you to accept our offer of a savings-secured loan of £2,500, as outlined below. The loan is backed by your savings, which will be locked in until the loan is repaid.

Loan details:

New Loan Sought: £2,500
Repayment Instalments: £78.99 Monthly
Term of Repayments: 36 Months
Total Amount Repayable: £2,842.97
Cost Of Loan: £342.97
Annual Percentage Rate (APR): 8.90% APR

Please do not share this link; this offer is exclusively available to qualifying members.

Pre-Approved Loan Application - Loan of £2,500

Full Name *

Membership Number

Leave blank if unknown

Date of Birth *

National Insurance Number *

Address Line 1 *

Postcode *

Phone Number *

Mobile is preferred for access to online banking.

Email Address *

Representative example

New Loan Sought: £2,500, Repayment Instalments: £78.99 Monthly, Term of Repayments: 36 Months, Total Amount Repayable: £2,842.97, Cost Of Loan: £342.97, Annual Percentage Rate (APR): 8.90% APR

Payment Date *

Payment is by Standing Order. Please indicate the date you would like to make your first monthly repayment. Further repayments will be made via the Standing Order on the same date each month.

Save as you repay

Keep growing your savings as you repay your loan to unlock better rates on larger loans in the future. Please indicate how much you’d like to add to your savings alongside your loan repayment.

Savings Contribution

£5
£10
£15
£20
£0 (opt out of saving)

Applicant declaration

By submitting this form, you confirm you wish to accept our pre-approved loan offer and accept the repayment terms outlined in the Representative Example. You also confirm that you can repay the loan and are not aware of anything that may affect your ability to make repayments. Please be aware that in the unlikely event of non-repayment, Boom Community Bank may take Court action to recover the loan. Boom Community Bank may apply to the Official Receiver if you attempt to enter into a Debt Relief or Bankruptcy Order. You also acknowledge that you will remain responsible for repaying the loan in full if you have provided false or inaccurate information in this application.

Data and privacy

Boom Community Bank will not conduct a credit search while processing this application; therefore, there will be no impact on your credit file for applying. However, we are required to report the ongoing status of all loans to the credit reference agencies. Therefore, you must maintain your contractual repayments; otherwise, your credit score may be negatively impacted. By proceeding, you acknowledge and consent to the processing of your information to assess your loan eligibility and manage your account with us if you choose to proceed with a product. We will conduct identity verification checks to prevent and detect crime and money laundering. For a detailed explanation of how your data will be used, please visit https://boomcb.org.uk/privacy-notice.

Share withdrawal restriction

For the duration of the loan, you, the borrower, are not permitted to withdraw savings (Non-Deferred Shares) from the account if your paid-up shareholding (excluding Deferred Shares) in the Credit Union is, or would become after such a withdrawal less than your total liability to the Credit Union. Total liability includes all outstanding loan balances, contingent liabilities, and any obligations as a borrower, guarantor, or otherwise.

Other requirements

The disbursal of the loan will be completed upon your provision of valid photo identification, proof of address, and National Insurance details. Further information regarding these requirements will be provided at the next stage.

Please enter your Name to sign your application *

Signature

Click Accept Loan Offer below to submit the form. Please allow up to two working days to receive the loan documents and next steps via email.