Easy-access savings and affordable
loans for NHS staff

An easy way to save, a better way to borrow

TransaveUK is a not-for-profit financial co-operative providing easy-access savings and affordable loans to NHS staff. Our financial products offer market-beating performance and we promise to treat you as a real person and not just a number on our database, regardless of your financial circumstances.

If you work for one of our NHS payroll partners listed at the below you can save and borrow direct from your pay at source. If you work for an NHS trust that’s not currently on our list you can still join Transave by setting up a Direct Debit with your bank.

An easy way to save

Saving regularly is the single most important thing that you can do to improve your financial wellbeing. But with the average return on savings from easy-access savings accounts in the UK currently averaging just 0.17% and many paying as little as 0.01%, there may not appear to be much incentive to do so. Save with Transave however, and you will typically enjoy a return on your savings of between 1% and 2.25%. How do we do this? Well, as a not-for-profit co-operative with no shareholders to pay, the majority of our profits are returned to our members in the form of an annual ‘dividend’ on their savings .

You can save from just £5 per month and withdraw your funds at any time without penalty via our online account and app, or by contacting our customer services team .You can also change the amount you save monthly as often as you wish, and add lump sums into your account if required. And you will have the peace of mind that individual savings accounts are protected up to the value of £85,000 by the UK government’s Financial Services Compensation Scheme (FSCS).

A better way to borrow

It’s a sad fact that many hard working NHS staff are effectively locked-out of affordable credit and forced into the arms of payday loan companies charging punitive interest rates of up to 1,500% APR, with alternative companies offering ‘fairer’ loans still charging in the region of 70% APR. Fortunately there is an alternative, NHS staff saving regularly with Transave can also apply for one of our affordable loans. With our maximum APR set at 24% and rates starting at 5% APR we can guarantee you a better deal.

Once you have been saving for a minimum of four weeks you can also apply for a loan of up to five times your savings balance with one of our flagship Personal loans. Instant Loans of up to £3,000 are also available to members immediately on joining Transave and are repayable over 1 to 24 months. And just because you don’t have a five star credit rating doesn’t mean that you will be automatically refused a Transave loan. Far from it, as we are proud of the fact that we approve 97% of the loan applications that we receive from members.

NHS payroll partners

We currently have payroll partnerships in place with the following NHS Trusts (if you work for one of the trusts listed your payroll department will deduct your savings and loan repayments direct from your pay):

Ashford and St Peter’s NHS Trust, Black Country Partnership NHS Trust, Doncaster and Bassetlaw Hospitals NHS Trust, Great Western Hospitals NHS Trust, Lincolnshire Partnerships NHS Trust, Medway NHS Trust, RDaSH NHS Trust, Salisbury NHS Trust, Sheffield Children’s NHS Trust, Sheffield Health and Social Care NHS Trust, University Hospital Southampton NHS Trust.

Employer Case Study