My Community Finance personal loans review 2020

My Community Finance connects borrowers to ethical lenders such as credit unions through its Community Finance Network.

Updated

Fact checked
My Community Finance

Get personalised loan quotes

Save time by checking whether (or not) you’ll be approved with multiple lenders and get rates based on your credit score.

What is My Community Finance?

Authorised and regulated by the Financial Conduct Authority, My Community Finance (part of Amplifi Capital UK Ltd) is a network of “ethical lenders”, including credit unions. It aims to give everyone, including those with less-than-perfect credit histories, access to fairly priced and ethical personal loans. It offers personal loans of £1,000 to £25,000 payable over 12 to 60 months and uses a “soft” search of your credit history, which will not affect your credit score.

Personal loans from My Community Finance can be suitable for a huge range of purposes from medical or vet fees to home improvements, a new car or furniture. If finding a large amount upfront is difficult, a competitively priced and ethical personal loan from My Community Finance could help. You can check your eligibility using the form below.

My Community Finance personal loans at a glance

  • Apply to borrow £1,000 to £25,000 over 12 to 60 months.
  • Personalised loan quotes that are valid for 30 days.
  • Fixed interest rate, meaning fixed monthly repayments.
  • Early repayment or loan top-ups are “reviewed on a case by case basis” (call 0203 375 0221).

While interest rates are fixed for the duration of your repayment period, the rate you’re offered may differ from the advertised “representative APR” which any lender is only obliged to award to 51% of its customers. Your personalised rate will depend on factors like your credit rating and your income, as well as the size and duration of the loan that you apply for.

Am I eligible for a My Community Finance personal loan?

You can check your eligibility using the form above. You should only apply for a My Community Finance personal loan if you’re certain you can meet the repayment terms. You must also:

  • Be aged 21 or over
  • Live in the UK (excluding Northern Ireland, Channel Islands and Isle of Man)
  • Earn at least £18,000 (it doesn’t matter if you’re paid monthly, weekly or are self-employed)

What’s the process?

Once you’ve checked your eligibility for a My Community Finance loan, simply:

  1. Choose “Apply”.
  2. Sign the loan agreement.
  3. You should then receive your money within four working days. If My Community Finance needs further information from you, it will get in touch before this point.

Frequently asked questions

Finder.com has selected Accepty Technology Ltd to provide details of credit products and whether you may be eligible to get them. Accepty Technology Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 839295). Accepty is acting as a credit broker, not a lender, and may receive a payment from a credit provider if you take out a credit product.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

Read more on this topic

Go to site