Our SavingsSecure loans are ideal if you have built up some savings - but want to hold on to them! Use your savings as security for the loan and by doing so, benefit from our lowest rate of interest.
Borrow any amount up to the value of your current savings. (Minimum loan amount £250)
Benefit from our lowest rate of interest
Online loan agreement facility available
No fees or charges
Representation of £5000 SavingsSecure Loan over 4 years:
| Loan Amount | Representative APR | Amount per month | Total Repayment | Total Interest |
| £5000 | 3% | £110.68 | £5312.24 | £312.24 |
With a Scotwest SavingsSecure loan, you use your savings as security for the loan and by doing so benefit from our lowest rate of interest. You choose your preferred loan term and your preferred repayment level and can make extra repayments or pay off your loan early without penalty.
Under the terms of the loan, the savings you use as security for the loan cannot be withdrawn until the loan is repaid in full and will not receive any dividend payments. They will still attract free life savings insurance however (limits & conditions apply). In addition, for members up to age 70, loan protection insurance is also provided up to a maximum of £15,000.
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.