Exclusively for employees of Bristol City Council, the Payroll Loan allows you to borrow up to £100 to £1,500 depending on your salary. If accepted, we aim to deposit the money in your bank account within 3 days of receiving your application form provided all the required forms have been returned by 3pm.
How much can I borrow on the Payroll Loan scheme?
|Your yearly salary||Amount |
you can borrow
|The total |
|up to £19,317 ||£250 ||12 ||£25 ||£39.39|
|£19,318 to £28,922 ||£500 ||12 ||£50 ||£78.79 |
|£28,923 to £44,755 ||£750 ||12 ||£75 ||£118.18 |
|£44, 756 and above ||£1000 ||12 ||£100 ||£157.58 |
To borrow a larger amount, take a look at our Employer Partner loans.
What else you should know
• Once you have repaid 50% of your Payroll Loan amount you can apply for another loan. The same criteria will apply with regards to the total amount you can borrow.
• The first repayment will be taken from your next pay following being accepted for the loan and the amount being deposited into your bank account.
• Once you have repaid the Payroll loan, we will continue to take your monthly payment unless you tell us otherwise – it’s a great way to build up a nest-egg!
How to apply
- Join Bristol Credit Union. Make sure you mention that you work for Bristol City Council.
- Download and complete the Download Payroll loan application form (37.2kb), scan it in and email to firstname.lastname@example.org
- We will send an agreement and payroll deduction mandate form to be signed.
- Once BCU receives your signed copy back we will transfer funds to the nominated account on the same day.