Build up your savings whilst repaying your loan
The Family Loan and Savings Plan is designed to help you access fair credit, even if you have a poor credit rating, and get into the savings habit at the same time.
If you saved the recommended £3.50 per week whilst repaying your loan you will have an amazing £182.00 in savings when the loan is finished, giving you a handy buffer in case of emergency or enough to treat you and your family to something special.
By accepting a Family Loan you are agreeing to have your Child Benefit paid into your Hoot account until the loan is fully repaid. Loan repayments will start when your first Child Benefit payment is deposited. This may take up to 4 weeks and your loan will incur interest during this time.
You also agree to save an agreed amount that will be available to withdraw when the loan is fully repaid.
Please see Terms and Conditions for more details.
Free Loan Protection Insurance
We have a group life insurance policy that may cover your loan in case of death. You don't have to pay any premiums for the cover, it's covered by us on our group insurance. Claims are subject to terms and conditions, restrictions apply based on age and cover limits. Click here for more details