Borrow and save directly from your Child Benefit

Loans from £300 to £600 at a maximum 42.6% APR

Apply now

Affordable borrowing from your local and ethical credit union

Loans from £300 to £600 at a maximum 42.6% APR

Apply now

Save whilst you borrow to build a stronger financial future for your family

Loans from £300 to £600 at a maximum 42.6% APR

Apply now
Your child benefit
How often are your child benefit payments?


Child benefit payment

Your loan options


Representative APR


Total interest and fees


Total amount to repay

Your 4 weekly payment breakdown

Child benefit
£0.00 =
Loan repayment
More info
Remaining funds
More info

This is for illustrative purposes only. Actual figures will be based on the date of first payment and assumes payment as shown for the term of the loan. Lending decisions are always based on your personal circumstances, credit reference information and your ability to repay.

Warning: Late repayment can cause you serious money problems. For help, go to

Why choose a child benefit loan

Why choose a Child Benefit Loan?

  • Affordable loans, capped at 42.6% APR
  • Delivered by local and ethical credit unions
  • No hidden fees or early repayment charges
  • Simple and quick online application
  • Build savings whilst you borrow

Compare just how much you could save

Child Benefit Loans make lending fairer and much more affordable - saving you hundreds of pounds compared to online or doorstep lenders.

Borrowing £400 over 26 weeks Child Benefit Loans Provident Oakam Mr Lender
Representative APR 42.6% 535.3% 1427.2% 1242.3%
Amount of interest £39 £224 £357 £365
Total Repayable £439 £624 £757 £765

Price quotes taken from company websites on 22 April 2021. For exact quotes please refer to the company websites.

Step one

Agree to your child benefit being paid directly from HMRC to the credit union and commit to saving a minimum of £2.50 a week (or £10 a month), which can be withdrawn once your loan is repaid.

Step two

Apply for a loan by completing our short application form. If approved, we will send you a copy of the loan agreement and HMRC notification letter to sign and return to us.

Step three

We will then contact HMRC to get your child benefit payments redirected. Your loan funds will only be sent to your nominated bank account when the first payment is received by the credit union.

Step four

Loan repayments and regular saving contributions will be taken automatically each time your child benefit comes in. The remainder is yours to withdraw or add to your savings.

How does it work?

Read our FAQs