Are you looking to make a big purchase without depleting your savings? Consider using your savings as collateral with our SavingsSecure one of our lowest rates of interest  – only 3.5% representative APR.

Savings to the value of the loan (from £250 and £30,000), will be held as security in your Scotwest Saver Account. As the SavingsSecure Loan balance reduces, the amount of the savings held as security will reduce in line with the outstanding balance. The maximum repayment term for a SavingsSecure Loan is 15 years.

Every loan application is carefully and individually assessed; decisions are based on a range of factors, always considering your income and expenditure and ability to repay.

Processing time for all Loan Applications is currently 4-5 working days.

Loan Example – £5,000 SavingsSecure Loan over 36 months

Loan Amount Interest Rate Representative APR Amount per month Total interest Total repaid
£5000 3.46% 3.5% £146.42 £271.19 £5271.19

Benefits of a SavingsSecure Loan:

  • Low interest rate of 3.5% representative APR.
  • Same day decision subject to daily cut off times (4pm Monday to Thursday and 3pm Friday)
  • Online acceptance option gives you the ability to have your loan paid out the same day, reaching your bank account in two working days.
  • Members may receive dividend on savings held as security in the Scotwest Saver Account.
  • You can make extra repayments or pay off your loan early without penalty.

Please note – Minimum loan is £250

Loan Protection

Loan Protection is a free safeguard offered by Scotwest Credit Union as a benefit automatically to its members. Your family can be secure in the knowledge that your Scotwest Credit Union debt* (up to an aggregate maximum value of £15,000) can be cleared, giving them peace of mind at a difficult and uncertain time.

Loan Protection is designed to help support you and your family by providing them with financial security ensuring that, when your family most need it, your debt* is paid off.

The terms of this member benefit may change from time to time. The applicable rates / amounts covered are those prevalent at the date of death.

*Loan Protection is provided on SavingsSecure Loans up to the age of 79.

Please note: You do not have an insurance policy.


At Scotwest, we help members who are struggling with their Scotwest loans. If you are experiencing debt problems, make sure that you get help straight away by speaking to your lender in the first instance before it spirals out of control. You can read guides on borrowing money and take the Debt Test from the team at Money Advice Scotland on our website here:

SavingsSecure Loan Terms & Conditions

View Our Current Interest Rates

Apply for a Loan

Current Members

Login & apply via online banking

Not yet a Scotwest member

You can now apply for membership of Scotwest together with a loan online at any time. Our Member Service Advisors can also take your application over the phone.

Call us on 0141 227 2390