Our Interest Rates and Terms
Interest Rates
Our interest rates depend on the size, type and length of loan that you require but typically vary between 5.5% and 7.5%.
Our interest rates are not linked to Bank of England Base Rates and as such, will not fluctuate as Base Rate changes.
The intention is to provide stable and predictable interest rates which remain the same throughout the life of the loan. This makes it easier to budget for the costs of taking a loan.
Loan Terms
Loans can be structured according to need over terms of:
- between 6 months and 5 years for unsecured deals
- and between 6 months and 25 years for secured deals.
Structuring Options
Every loan provided by the Charity Bank will be tailored to meet the specific needs of the borrower. Depending on requirements we are able to provide interest only periods within the initial year of the loan, structured repayment profiles and loans with multiple tranches as required.
Early repayments are permitted by the borrower at no charge, unless they choose to refinance with another bank in the first two years.
Throughout the life of the loan, Lending Assessors will monitor the performance of borrower through on-going monitoring requirements and formal annual reviews.
Security
The Charity Bank will take security where it is available to assist the borrower to:
- reduce the cost of the loan,
- increase the amount of loan available,
- and to access longer term funding.
Our Interest Rates and Terms
Interest Rates
Our interest rates depend on the size, type and length of loan that you require but typically vary between 5.5% and 7.5%.
Our interest rates are not linked to Bank of England Base Rates and as such, will not fluctuate as Base Rate changes.
The intention is to provide stable and predictable interest rates which remain the same throughout the life of the loan. This makes it easier to budget for the costs of taking a loan.
Loan Terms
Loans can be structured according to need over terms of:
Structuring Options
Every loan provided by the Charity Bank will be tailored to meet the specific needs of the borrower. Depending on requirements we are able to provide interest only periods within the initial year of the loan, structured repayment profiles and loans with multiple tranches as required.
Early repayments are permitted by the borrower at no charge, unless they choose to refinance with another bank in the first two years.
Throughout the life of the loan, Lending Assessors will monitor the performance of borrower through on-going monitoring requirements and formal annual reviews.
Security
The Charity Bank will take security where it is available to assist the borrower to: