Payroll Loans

Payroll Loans Made Simple: Borrow With Confidence

At Serve and Protect, we make borrowing stress-free with payroll loans. Enjoy competitive rates, flexible repayments, and no early repayment fees.

Flexible Payroll Loans That Suit Your Career

Whether it’s managing unexpected expenses, home improvements, or a special occasion, our payroll loans offer the support you need, when you need it. With no hidden fees, charges, or early repayment penalties, you can borrow with confidence in a way that suits you.

Range

You can apply for loans between £500 and £25,000.

Repayments

You can choose repayment terms between 12 to 96 months.

Rates

We have affordable tiered rates starting from 8% APR to 13.5% APR.

What makes our Personal Loan a good choice?

Payroll Deduction

Repayments are automatically taken from your salary each month, so you never need to worry about missing a payment. You can check if your employer has signed up here.

No Early Repayment Penalties

Gain financial freedom faster with the ability to repay early at no extra cost.

Reducing Balance Loans

With a reducing balance loan, your interest is calculated on the remaining loan balance, meaning as you pay off your loan, the amount of interest you owe decreases.

Support a Greater Cause

When you borrow from us, you get an affordable loan while supporting our mission. Your interest helps sustain our credit union, support those who serve, and reinvest in the community.

Benefits of Payroll Loans

Payroll loans are more than just convenient; they’re smarter borrowing. Here’s how they make life easier for you:

Repayments are automatically deducted from your salary.
Regular repayments can help improve your credit profile.
Repayments fit seamlessly into your monthly finances.
Reduces risk for lenders and boosts your chances of approval.

What you could use your Serve and Protect loan for?

Car Purchase

Consolidating Existing Debt

Renovating Your Home

Getting Married

Going on Holiday

Visa to Remain

Can I Apply?

To apply for a Personal Loan, you need to:

Check if your employer has signed up for payroll deductions here. If they haven’t, you can still repay via direct debit, as long as you fit into our field of membership.

If our personal loan seems out of reach, consider our Inclusion Loan. By looking at your financial habits rather than your credit score with the help of Open Banking, we aim to help where others might not.

Loan Calculator

What will you use the loan for?

I'd like to borrow

Over a period of (Years)

Amount

I'd Like To Borrow

£0

Term

Over A Period Of

0 Months

Representative

0.0% APR

Monthly Repayment
£0.00 *

Total Repayment

£0.00 *

Representative Example

If you borrow £0.00 over 0 Months, your monthly repayment is £0.00. Total amount repayable is £0.00 which includes interest at 0.0% APR.

The figures given above are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.

Use our loan calculator to explore repayment options and find what works for you!

Frequently Asked Questions

What are the interest rates for your payroll loans?

Our rates range from 8% APR to 13.5% APR, depending on the amount borrowed and repayment terms.

Can I repay my loan early?

Absolutely. There are no penalties for early repayment, so you can take control of your finances at any time.

Do you assess my credit history?

Yes, we run credit checks as part of our process. However, we consider many factors beyond your credit score, such as your income and financial habits, so don’t count yourself out if you’ve had a few bumps.

Do you lend money to people who live outside of the UK?

Unfortunately, we are unable to lend to individuals who live outside of the UK unless payroll deduction is available with your employer.

What are payroll loans, exactly?

Payroll loans offer repayments deducted directly from your salary, ensuring simpler, stress-free borrowing. You can check if your employer has signed up for payroll deductions here.

Do you have more questions?

Our team is here to help with any further questions you may have. Reach out to us at 0121 700 1222 or start your application today with confidence!

Ready to Apply?

Getting started with Serve and Protect Credit Union is quick and easy. Our online application form is designed with you in mind. You’ll need:

proof of identity and proof of address
proof of employment and/or income
information about your financial situation
your banking details so you can save with us

Take the first step today and see how we can help you manage life’s expenses.

Helping You Understand Borrowing Terms

Borrowing doesn’t need to feel overwhelming. Here’s a quick breakdown of common terms:

Annual Percentage Rate (APR)

The annual cost of your loan, including interest and fees.

Credit Check

A review of your financial history to evaluate your ability to repay the loan.

Payroll Loans

A loan where repayments are deducted directly from your salary.

Personal Loan

Unsecured loans for home improvements, debt consolidation, or unexpected costs. No collateral needed, with flexible repayment terms.

Confused by financial jargon? Visit our Jargon Buster for more helpful explanations.