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Frequently Asked Questions


We understand that applying for a loan can be a big financial decision, so we have put together answers to some of the most common questions we get asked.

Why do you need to see my bank statements and payslips?

Smart Money Cymru is a responsible lender and sometimes we need to make sure that  you can comfortably afford the repayments before we approve a loan, as well as saving with us. We pride ourselves on providing affordable credit, not unaffordable debt.

How long will it take to get a decision?

Once all relevant documentation has been received, we aim to turn around all loans within 24 hours (this could change during particularly busy periods, such as Christmas) You will be contacted if we have any queries regarding your application.

Will you be doing a credit search on me?

We might perform a full credit reference agency search in order to check your ability to repay a loan and also to clarify that the information given on the loan application is accurate. The information we receive from the credit search is used as a tool by our credit committee, as well as many other factors that are taken into account. Please be open and honest with us to enable us to make the right decision.

How long do I have to be a member before I can apply for a loan?

At Smart Money Cymru, we are happy to take a loan application from you at the same time as you join. You do not have to save for a period of time first but we will expect you to establish your savings at the same time as repaying your loan.

How soon can I apply for a top up loan?

You will be able to apply to top up your Smart Loan once you have repaid half of the original amount that you borrowed, unless you have been advised otherwise.

I have been refused a loan; what can I do?

If you have been refused a loan, the reason for refusal would have been fully explained to you; however, we strongly advise that you continue saving with us to help future loan applications.


To find out how much a loan from Smart Money Cymru might cost you, have a look at the loan repayment calculator below (remember though, if you are saving with us through your payroll, you can get a discount on your interest rate making your repayments even lower!)


Loan Calculator

Loan Product

Borrowing Value

Minimum borrowing is yoyo - Maximum borrowing is yoyo
Term In Months

Minimum term isyoyo months - Maximum term is yoyo months

Calculator Result

Representative APR
Annual Percentage Rate

Monthly Repayments
monthly repayments

Loan Amount
Total Cost of Credit
Total Due

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* The interest rate you pay, and the amount you are able to borrow may vary depending on your saving and loan record with the credit union.

* All figures given on this website are for your general information only, and give a rough guide to loan repayments. Any statements on this website do not purport to be authorative or legally binding.

* All information contained on this web page is correct at time of publishing. The Credit Union accepts no responsibility for errors due to changes in rates or offers which have occurred after this date. You are advised to check with our offices for up-to-date rates and offers.

Smart Money Cymru Credit Union Ltd, 64-66 Cardiff Road Caerphilly CF83 1JQ Telephone 029 2088 3751
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority 213370, FCA register no: 163C.

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