Loans and Financial Support

Low-cost Loans - Salary Finance

Suppose you need a loan quickly and do not have a reasonable rate available to you, or you have unmanageable loans and need help to reduce the interest by consolidating debts. In that case, the Council can provide a loan through Salary Finance.

The loans are at a more affordable rate and have higher acceptance than banks. A lower-rate loan could help you save money by paying off more expensive debts like credit cards and avoiding payday lenders.

For loans under £5,000, Salary Finance offers a price promise – if you get a better rate they will match it. Salary Finance interest rates range from 3.9-19.9% APR with a Representative Rate of 7.9% APR (fixed).

Representative Example: Amount of credit: £3,000. Term: 24 months. Annual interest rate/Representative Rate: 7.9 APR (fixed). Monthly payment: £135.17. Total repayment: £3,244.15.

To be eligible to apply:

  • you must have been employed by Hackney Council for more than 6 months
  • you must at least 18 years old
  • you must have an income of at least £6,000 per year
  • you must be a current UK resident with at least 3 years of UK address history
  • please think carefully if you really need a loan or you are buying something

How to apply:

For more information and how to apply, visit here.

Hardship Support & Tool Loans - Welfare Loans

Welfare loans

A welfare loan may be issued to people in exceptional circumstances where there is severe financial hardship or unforeseen emergency or domestic circumstances and no other financial assistance is available to you. The final decision on approval rests with the HR team.

The maximum loan available to staff is £300.

Tool loan

Housing Services staff can also apply for a loan from HR to purchase tools.

How to apply and more information


Tenancy Deposit Loan Scheme

Get help with your tenancy deposit with a loan from the Council.

Hackney was one of the first local authorities to introduce such a scheme in line with our commitment to helping employees find accommodation in the borough.

How the scheme works

The employee tenancy deposit loan scheme is open to all permanent and fixed-term employees who are expected to remain in service for the following year. The scheme is similar to the season ticket loan scheme. Please return this to the Payroll team

Application form

Please return this to the Payroll team. Please contact Payroll team if you need help with the form.

To find out more about the scheme email: 

Wagestream - Early access to pay

Eligible staff can access a proportion of earned wages two weeks before payday in case of emergency situations (access is available between the 1st of the month and payday). This is to help you switch from payday loans and avoid high-interest rates and charges. This is recommended only to help you when you need it most, rather than to be used regularly.

Here’s how the new Wagestream scheme works:

#1 If you are eligible – you will be able to access the Wagestream app. Once enrolled and in the app, you can see exactly how much you’ve earned since the start of your pay cycle.

#2 Once enrolled, if you need to transfer funds to your bank account, you can select the amount and select ‘Transfer’.

#3 The money will go into your bank account instantly, for a small fee of £1.75 per transaction.

#4 On the next payday, you’ll receive your salary as normal, but with any Wagestream transfers deducted from the final amount.

If you have any questions in the meantime, please contact Wagestream via email  or through their instant chat.

To download a step-by-step guide on how to access their app, please click here.

To find out more about the scheme email: