Cash Builder Loan

When could you get your £250?

This calculator is for people who receive Child Benefit. Tell us about your Child Benefit and we’ll work out when your £250 loan could be released.

Do you receive Child Benefit?

How many children do you receive Child Benefit for?

How often is your Child Benefit paid?

Your Child Benefit payment Calculated automatically from the number of children and how often you are paid.

When is your next Child Benefit payment due? If the next payment is within 7 days, we will normally use the following payment date to allow time for your Child Benefit payment details to be changed.

You are not eligible for this product. This Cash Builder Loan is currently only available to people receiving Child Benefit.

Your Cash Builder calculation

Your £250 loan will be released on —

Benefit Child Benefit

Children —

Frequency —

Child Benefit payment —

Total payment including savings —

How your first £108.20 builds

Part of your Child Benefit is more than the Cash Builder payment

Your £250 Cash Builder Loan quote

Loan £250

Term 26 weeks

Representative APR 42.6%

Total interest £24.04

Weekly total payment including savings £27.10

Example savings at the end Approx. £429

Before the £250 loan is released, £108.20 of your Child Benefit payments will be held in your account as security for the loan. This money is still yours, but it cannot be withdrawn or accessed while the loan is running. It becomes available again when the loan has been repaid.

Your £27.10 weekly equivalent is your total Cash Builder payment. Part goes towards repaying the £250 loan and part goes into your Cash Builder savings. Any Child Benefit you receive above the amount needed for the Cash Builder payment can either be saved with Wessex or sent back to your normal bank account. Over the six month term the loan is repaid while your savings build. In this example, you finish with approximately £429 in savings.