DCB’s ‘Save as you borrow’ scheme is something that sets ourselves apart from other mainstream lenders, as our Members are required to build savings whilst repaying loans.
Did you know you can grow your savings while repaying a loan? At Derbyshire Community Bank, our Save While You Repay scheme is designed to help you achieve financial security effortlessly.
You make an agreed payment each week or month, and a small part of this is added to your ‘Holding Savers’ account. You cannot touch the savings while you have a loan, but you will have saved a small lump sum when you have finished paying it back. You are welcome to increase your savings amount beyond the minimum required, further enhancing your financial security.
We know how difficult it can be to save, especially if you have borrowed for something you need or want. ‘Our Save as you Borrow’ helps you establish a habit of saving and ensures you have funds set aside for future needs. Saving while repaying helps you build habits that last, giving you more peace of mind.
| Save Each month | After 6 months | After 1 year | After 3 years | After 5 years |
| £12 | £72 | £144 | £432 | £720 |
| £40 | £240 | £480 | £1,440 | £2,400 |
| £100 | £600 | £1,200 | £3,600 | £6,000 |
Jessica borrowed £1,000 for a car repair. By saving £10 per month during her repayment period, she finished her loan with £120 in her savings account
Mark used our Save While You Repay scheme to finance home improvements. By the end, he had £300 in savings, which he used for Christmas shopping!
