Payroll Deduction Scheme

Payroll Savings and Loans For all permanent employees of companies on our scheme

A convenient way to save and borrow – Make life easier by joining the Payroll Deduction Scheme offered through Northumberland Community Bank - it couldn’t be simpler. Currently schemes are available for the companies listed below. If you would like your company to join our scheme call us on 01670 522 779 or email


An easy way to save - You decide the amount you want to save each month (min. £1) and your payroll department deducts the amount from your salary and sends it direct to us.


Join your Community Bank and you are entitled to apply for a loan with preferential terms. Amounts between £300 and £15,000 are available, repayable between 6 and 60 months.

Interested in a loan? Contact us to discuss your options – we would love to help.

Payroll Scheme Loan Offer


  • Simple - We make it easy for you to join as a member
  • Straightforward Application process – there are simple application and credit agreement forms to complete
  • Helps you to budget - Repayments are calculated to keep them affordable
  • Value for Money - No setting up fee or front loading of interest
  • Preferential Low Interest - you will receive a discounted rate
  • No early settlement fees - You can repay the loan early at any time without penalty
  • Convenient - The repayment is deducted from your monthly salary before you receive it so you don’t have to remember to pay us!
  • Savings - at the same time as repaying your loan, you can save a little (or a lot) to put some money aside for a rainy day (or whatever purpose you want), you decide what you can afford (min. £1)

Instant£500 Loan Offer

Northumberland Community Bank (NCB) are offering all staff of companies on our payroll scheme with a permanent contract the opportunity to apply for a £500 loan.

To take up this special offer, you need to join NCB as a member and agree to make repayment through the payroll scheme which will also include a small amount of savings e.g. The repayment will be a minimum of £50 per month which will be made up of £44.43 for your loan and £5.57 for your savings.

If you would like to take advantage of the Instant£500 Loan, please send an email confirming you would like to do so, together with the amount you wish to save into your share account and a copy of your latest payslip to


  • Simple membership application with no further loan application required
  • The loan offer is guaranteed
  • Repayments are calculated so that you repay the loan in full after 12 months
  • No setting up fee or front loading of interest
  • You can repay the loan early at any time without penalty
  • The repayment is deducted from your monthly salary before you receive it
  • Preferential Low Interest of 1% per month on the outstanding balance
  • You decide how much you would like to save (there is a minimum of £5.57 as quoted above)

Repayment Example

£50 per month for 12 m = £44.43 towards your loan and £5.57 for savings

Funds will be sent to your nominated bank account after receipt of your completed agreement form.

Typical APR 12.7%


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Northumberland Community Bank brings together two successful, community focused financial organisations.

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