Advantage Loan

Advantageous interest rates, rewarding saving!
Save as you borrow

For all members

Borrow 5 x Voyager Alliance savings balance
(borrow £1,000 – £25,000)

Maximum loan term – 7 years

Interest rates
Loans <£9,999 – 10.4% p.a. (10.9% APR)
Loans >£10,000 – 5.75% p.a. (5.9% APR)

The Advantage loan rewards members who have built up savings by offering an advantageous interest rate. Borrow up to five times your Voyager Alliance savings, between £1,000 and £25,000, at extremely competitive interest rates, and save as you borrow, so your savings will continue to grow whilst repaying your loan.

The Advantage Loan is available for almost any purpose, so, if you’re planning home improvements, upgrading the car or have a special occasion to celebrate, talk to us, and we could help!

Advantage Loan at a glance
  • Borrow between £1,000 – £25,000, up to 5 times your Voyager Alliance savings
  • Advantageous interest rates, that reduce for larger loans
  • 20% of the outstanding loan value must be kept in a Membership Account and cannot be withdrawn
  • Save as you borrow, so you’ll continue to grow your savings whilst repaying your loan
  • Maximum loan term 7 years
  • Affordable repayments tailored to suit your budget
  • Easy to apply, with options for everyone – apply on our App, apply online, apply on our Nivo App on your mobile, or complete a paper form if preferred, although this takes a bit longer!
  • Apply to Top Up when repaid 10% of the original loan value

Please Note: If applying to Top Up, please apply for the amount you are topping up by, when completing the application. If approved, this amount will be the extra amount you receive.

Benefits of an Advantage loan
  • No application fees or hidden charges
  • No penalties for early repayments, so repay early & you’ll save interest
  • Affordable loan repayments through payroll deduction, or alternatively by direct debit
  • Apply for a top up once 10% of original loan value repaid
  • Convenient weekly, 2-weekly, 4-weekly or monthly repayment, tailored to suit your budget
  • Save as you borrow, so you’ll continue to grow your savings whilst repaying your loan
  • Savings continue to attract dividend payments* whilst repaying your loan

*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.

Things you should know
  • 20% of the original loan value must be kept in a Membership Account and cannot be withdrawn until your loan is cleared.
  • You must also save a minimum of £2/week or £10/month as you borrow, so you’ll continue to grow your savings whilst repaying your loan. This minimum saving amount will be added to your ‘Locked Savings Account’ and cannot be withdrawn until your loan is cleared.
  • After repaying 10% of the original loan value, members can apply to top up the loan
  • Members may only hold 1 Voyager Alliance loan at any time
  • The Advantage loan is not available to members who are bankrupt or have an Individual Voluntary Arrangement (IVA) that shows on their credit report.
  • Paying ‘lump sums’ into a savings account to qualify for an Advantage Loan is not permitted. Instead, regular weekly or monthly savings are required. However, transferring regular savings from another savings account may be considered on an individual basis.
  • Other terms and conditions may apply.
How do I Know Which Loan To Apply For?
  1. View our loans page, for more information.
  2. No savings with Voyager Alliance? No problem! Borrow up to £10,000 with our Personal loan at competitive interest rates from 19.9% APR, that’s cheaper than most credit cards.
  3. Savings with Voyager Alliance? Then take advantage of our Advantage loan which rewards saving. Borrow up to 5 times your Voyager Alliance savings balance at extremely competitive rates from just 5.9% APR, or enjoy our lowest ever rate of just 2.9% APR, with our Savings Secured loan.
  4. Looking to manage your debts and reduce monthly outgoings? Tidy up your finances by consolidating outstanding borrowing into 1 manageable repayment with our Swap & Save loan.
  5. Use our handy online loan calculator to see what repayments suit your budget. It’s a good idea to make a note of the loan name, amount, and repayment term before starting the online application form.
  6. If you already have a loan with us, you can apply to Top Up once you’ve repaid 10% of the original loan value or 20% of your first Personal loan.
  7. When a loan requires a level of savings we usually only take into account savings built up in your Voyager Alliance accounts. However, we will consider lump sums paid into your Voyager Alliance account from other sources, if you are able to provide evidence that the lump sum has come from other savings.

Loan Calculator

Use our loan calculator to see how much you could borrow and how much you would pay back.

Loan FAQs

For help and guidance on applying for a Voyager Alliance loan and everything you need to know to guide you through the application process.

Representative Examples

Weekly repayments

Borrowing £3,500 over 156 weeks will cost £26.14 a week. The total amount repayable is £4,077.82 which includes interest at 10.9% APR.

Monthly repayments

Borrowing £12,500 over 48 months will cost £292.13 a month. The total amount repayable is £14,022.35 which includes interest at 5.9% APR.

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