Help & advice Money Academy Debt & Credit-what you need to know Affordable loans If you talk to one of our Money Academy team, Harvest Money know that you have thought about affordability Harvest Money provides personal loans for a full range of purposes. So whether you are looking to purchase a new car, take a well-earned holiday, buy the kid's school uniforms, or simply to replace some household items, they can help! One of the benefits of using Harvest Money for borrowing is that they do not charge any set up fees or early settlement penalties. You may apply for a loan of up to £7,500 above any savings that you have with us. For example, a member with £1,000 in savings could apply for a loan of £8,500, provided that they ‘pledge’ the £1,000 to the Credit Union during the lifetime of the loan. You can make an application online or in person, either at their head office in Northampton or come into our offices and someone can help you with an application. Members applying for the first time may be asked to provide some additional information to help us understand that their proposed repayments are affordable. This might include recent payslips and statements from their bank account. A loan can be repaid over a period of up to five years, although the maximum time period we allow is shorter for smaller loans. Interest rates start at just 4.6% APR for fully secured loans and are capped by law at 42.6% APR. The actual interest rate you will be offered will be determined by assessment of your circumstances. Applications are assessed by the Credit Team. The most important factor that Harvest Money take into consideration is affordability. They use a range of methods, to understand what is affordable for you, including your savings record with them, your credit report, and any additional information they ask for.