A Revolvaloan offers members the flexibility of accessing loan funds when they need to, without the need to complete a loan application each time additional funds are required. Revolvaloan is ideal for members looking to borrow smaller amounts on a regular basis. You can apply for the initial amount you require and choose your preferred borrowing limit (min £600/max £2500). On approval, we will pay out your initial amount and agree your personal Revolvaloan limit with you.
On-going fund requests up to your limit as and when you require.
Benefit from a competitive rate of interest and only pay interest on the current amount borrowed.
Further advances (min £50) can be organised and subject to cut off times can be processed on the same day.
Make extra repayments or pay off the loan early without penalty fees.
Each Revolvaloan has a minimum set repayment amount based on your payment frequency and your borrowing limit.
As long as you pay at least the minimum repayment amount you can choose your own deduction and, if necessary, can vary this over the course of the loan as your circumstances change.
|
Revolvaloan limit |
Weekly Deduction |
Fortnightly Deduction |
4 Weekly or Monthly Deduction |
|
Up to £1500 |
£10 |
£20 |
£40 |
|
Over £1500 |
£20 |
£40 |
£80 |
Login to the members area and then submit an application online via online banking
Give us a call and one of our Member Service Advisors can take your application over the phone and explain more about Scotwest and becoming a member.