Pricing Examples

SCML will never lend more than you can afford to repay – we will look closely at your financial situation.

Personal Loan Rate: 37% APR for new clients and 29.5% APR for existing clients. The interest rate is charged on the declining loan balance - in other words once you have made your first repayment the interest charge decreases.

Loans are repaid either on a monthly or weekly basis by Direct Debit from your own bank account.

A one-off administration charge of 5% of the loan is payable upfront for new clients and 4% for existing clients, the maximum fee is £60.00. 

At SCML we have no hidden fees; the total APR including the admin. fee is shown in the table below.

Loan examples for new clients:

Loan Amount 

        Term                  

Fee     

Payment Amount 

Total Cost of Loan: incl. fee      

 Typical APR 

£250

 26 Weeks

 £12.50 

  £10.43

 £283.68

 68.49

£500

 12 Months

 £25.00

  £49.22

 £615.64

 51.50

£1000

 12 Months

 £50.00

  £98.43

 £1231.16

 51.47

* Because we calculate the interest daily, the regular payment and interest charged on your loan may vary slightly from this illustration.

Tel: 02392 826180