Fair-interest payroll loans

Borrow up to £15,000 through salary deduction.

We partner with your employer to support you with safe, affordable borrowing.

✔ Borrow between £100 and £15,000

✔ Fixed interest rates from 7.9% APR

✔ Repay over 1 month to 5 years

✔ Automatic salary deductions make repayments simple

Get a quote

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Borrow with confidence through payroll

Looking for a simple, affordable way to borrow? Our salary deduction loans can be used for almost anything, from buying a car and home repairs to weddings and unexpected expenses.

By partnering with your employer, we can take a more personal approach to lending. This means you may be eligible for a loan even if you've struggled to access credit elsewhere.

With repayments deducted directly from your pay, you'll never need to worry about missing a payment date, helping you stay in control of your finances.

Choose how much to borrow and set repayments

You can borrow from between £100 and £15,000 at 7.9% to 29.9% APR representative. Repay your loan over 1 to 5 years.

Loans are subject to status.

Find out how much you will repay

We will show you:

your personalised interest rate
how much your repayments will be
how much the total loan would cost

Loan amount

£100 - £15,000

Interest rate

7.9% to 29.9% APR representative on loans between £100 and £15,000.

Your rate is personal to you. It’s based on things like your credit score, income, and loan amount, so it might not match the Representative APR.

No matter what, we’ll never offer a rate above 29.9% yearly (fixed).

The rate you see in your quote is an estimate and not a guarantee.

Representative example

Representative APR: 29.9%

Representative example: Borrow £1,500 over 24 months, and repay £81.18 per month, total amount payable (including interest of £448.32) is £1,948.32. 29.9% APR representative.

Your actual rate will depend on your credit profile. Rates range from 7.9% to 29.9% APR.

Other examples:

Borrow £4,000 over 24 months, and repay £206.84 per month, total amount payable (including interest of £964.16) is £4,964.16. 23.9% APR representative.

Borrow £10,000 over 48 months, and repay £242.58 per month, total amount payable (including interest of £1,643.84) is £11,643.84. 7.9% APR representative.

Repayment period

1 month - 5 years.

There are no fees for paying your loan off early.

Find your employer

Enter your employer to get started:

Found your employer?

Get a quote before you apply without affecting your credit score. Tell us how much you want to borrow and set repayments, and we’ll show you:

Your personalised interest rate between 7.9% and 29.9% APR representative
How much you’ll need to repay
How much the total loan will cost
How likely you are to be approved

Get a quote

Employer not listed?

If your employer isn’t partnered with us, don’t worry. There are other options you can explore:

Option 1: Refer your employer. Fill out a simple application form and we’ll contact your boss or HR team to set up the partnership.
Option 2: Discover our standard credit union loans to find other affordable ways to borrow.

What are payroll loans?

A payroll loan, also called a salary loan or a salary deduction loan, is a discounted loan for employees offered as part of a financial wellbeing benefit It’s provided in partnership with your employer and GWCU.

Use the money for whatever you need, whether that’s buying a car, fixing something at home, or a wedding.
Pay back the loan through payroll deductions, so there’s no risk of missed repayments.
Partnering with your employer lets us get to know you a little more. This means we might be able to loan you money even if a traditional bank has said ‘no’ before.

Benefits of a GWCU payroll loan

Our fair approach to salary loan lending prioritises your financial wellbeing:

Discounted rates for employees
Fixed low interest rates, so you know exactly how much you need to pay
Transparent pricing – no hidden fees or early repayment penalties
Automatic salary deductions to make money management simple and clear
Easy online application with a loan calculator to see how much you can borrow
Reviews take your individual circumstances into account, not just your credit score

To apply for a loan, you need to meet the following four criteria:

You have to be aged 18 or over
You must be employed by one of our employer partners
You have to have a regular income over £450 per month
You have to have enough disposable income to meet the loan repayments

There are two other eligibility criteria, but these are optional:

If you are a UNITE and UNISON trade union member from the South-West
If you are a tenant of one of our partner housing associations

Personal mobile phone number

We need this so we can contact you easily.

Personal email address

This is important so we can send your loan documents to you.

Your national insurance number

This is to prove your identity.

How to find your national insurance number.

Open Banking

We use this simple method to confirm your income so there's no need to provide bank statements or payslips.

Your bank details

We need these so we can set up your loan repayment.

Not sure if you have this information?

Get in touch

What is a salary deduction loan?

A salary deduction loan is another name for a payroll loan or salary loan. It’s a discounted loan offered to employees as part of a financial wellbeing service in partnership with your employer and GWCU. Employee loans are paid back through payroll deductions, making repayments hassle-free.

Learn more about salary deduction loans.

Who can apply for a payroll loan?

You can apply for a payroll loan online with us if your employer is one of our listed employer partners. If they are, simply fill out a form to start your application.

If your employer isn’t a listed partner, you can browse and apply for one of our other loan products or refer your employer.

Can I use a salary deduction loan to consolidate debt?

Yes, if you want to combine your debts into one easier payment, you may qualify for our consolidation loan. Just let us know in the application that you need this payroll loan for debt consolidation and answer some questions about your current debts.

Can I make extra payments to my salary deduction loan?

Yes, you can choose to overpay with payments through the online Member Portal. You can also pay off your salary loan entirely at any time, without extra charges or penalties.

Can I apply for a payroll loan with bad credit?

Even if you have had difficulties managing credit or bills in the past, you may be able to qualify for a GWCU payroll loan with low or bad credit, subject to affordability.

While we don’t offer payroll loans with no credit check, a poor credit history does not necessarily mean we won’t lend to you.

We do not judge our members. We take every applicant’s personal circumstances into account when we make our decision.

Find out more about applying for loans with low or bad credit scores.

Why didn't I get the rate I was expecting for my salary loan?

We tailor your APR to you. It’s based on your credit history and personal circumstances, so you’ll always get a rate that reflects your situation.

More than half of our approved customers receive the representative APR, which is between 7.9% to 29.9% for a salary loan. If you’re offered a different rate, it may be because you applied for an amount with a different representative APR, or your individual circumstances means a different rate is a better fit for you.

Is a salary deduction loan automatically deducted?

Yes, salary loan repayments are automatically deducted from your monthly pay through payroll, so you don’t have to worry about manual transfers or setting up a direct debit.

Do you offer flexible borrowing options through payroll?

Yes. If you want a flexible credit limit rather than a fixed-term loan, our Salary Deduction Flex account may be more suitable for you. It gives you access to ongoing funds directly through payroll with predictable monthly repayments.

What happens to my payroll loan if I leave my employer?

If you leave your job, your automatic payroll deductions will stop, but you’ll need to keep repaying any outstanding balance in your account, such as through a Direct Debit.

Find full details on what happens to your account if you leave your employer.

Will my boss see what i'm borrowing?

We don’t tell your employer or anyone in your company, whether you’re borrowing or saving with us.

The payroll department only knows you want an amount of money deducted from your salary and they send it automatically to GWCU. No information is shared about whether that money is for savings or for a loan repayment. No information is shared about your repayment schedule or credit rating.