You've found South Manchester Credit Union
Borrow from £200-£1000 at 42.6% APR
- Fair interest rates
- Affordable, flexible repayments
- No hidden charges or fees
- Quick & easy application
![Small loans with flexible terms](https://www.smcreditunion.co.uk/wp-content/uploads/2024/03/Flexible-repayments.png)
What is the SoundPound Loan?
The SoundPound Loan is for new account holders, you can between £200 and £1000 at 42.6% APR and interest is charged on the reducing balance. Repayments are tailored and affordable. Credit Unions all over Greater Manchester are offering this loan.
Who are SoundPound?
SoundPound are the consortium of Greater Manchester Credit Unions, together we share a common goal of providing fair financial support to local communities across GM, we believe by working together we can make a bigger difference.
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Why borrow with us?
We offer competitive interest rates
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![](https://www.smcreditunion.co.uk/wp-content/uploads/2023/08/5-star-Reviews.png)
99% of our Google reviews are 5 stars
Repay with flexible repayments on terms that suit you
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Get a decision on your Welcome Loan application within 2 working days
Keep your mind at ease with no fees or charges. Any questions? Just ask
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Save whilst you repay and enjoy your savings once your loan is repaid
Why borrow with us?
We are able to offer competitive interest rates. You’ll never be charged more than 3% monthly interest
![](https://www.smcreditunion.co.uk/wp-content/uploads/2023/08/Cheap-interest-rates.png)
![](https://www.smcreditunion.co.uk/wp-content/uploads/2023/08/5-star-Reviews.png)
99% of our 650+ Google reviews are 5 stars, something we are incredibly proud of. Our members show us lots of support and appreciation for the service we provide
Repay with flexible repayments on terms that suit you. We know everyone’s finances are different and there’s no one-size-fits-all approach, so we work with members to find the best possible way forward for your finances
![](https://www.smcreditunion.co.uk/wp-content/uploads/2023/08/Flexible-Repayments.png)
![](https://www.smcreditunion.co.uk/wp-content/uploads/2023/08/Quick-Decision-Loan.png)
Get a decision on your Welcome Loan within 2 working days. Speed matters and, with our experience, we are able to work quickly to get back to you with a decision and next steps
Keep your mind at ease with no fees, charges, or penalties. If you have any questions about your loan, repayments, or anything to do with your account, just send us a quick message on our secure messaging app
![](https://www.smcreditunion.co.uk/wp-content/uploads/2023/08/No-Hidden-Fees.png)
![](https://www.smcreditunion.co.uk/wp-content/uploads/2023/08/Save-Money-Loan.png)
Save whilst you repay and enjoy your savings once your loan is repaid. Everyone who borrows from us saves too, so you don’t have to stress once your loan is repaid. Leave your savings here to access our lower interest loans and continue to save, or enjoy your nest egg and treat yourself
What to expect
You can apply for a loan right away! Simply fill in our online loan application form and we’ll be back in touch within 1 working hour. We’ll then finish signing you up and guide you through the application process.
Our members most often find repaying through a standing order to be easiest option. If you are employed by one of our payroll partners, your loan repayments can be taken directly from your wages through payroll deduction, so you’ll never have to see the money leave your account. If you’d prefer to call into the office, feel free to pay by cash.
Interest on all of our loans is calculated daily on the reducing balance of your loan. With every repayment you make, you clear the interest accrued since your previous repayment and your interest is then calculated for your next repayment on the reduced balance – the lower your balance, the less interest you pay.
For our Welcome Loan, youcan set your repayment period at as little as 3 months and as much as 12 months. The maximum allowed repayment period increases for some of our other loans.
As a responsible lender, we will run a credit check on your first loan application. Our policy is that we may run a credit check on any loan application. Your application will be assessed based on your credit file, affordability, and your personal circumstances, not just your credit file alone.