How much does a Credit Union loan cost?
From 1st February 2011 new loans issued will be at an interest rate of 9.95% or 10.4% APR
The credit union charges an interest rate of 0.8291 % per month on the reducing balance of the loan (9.95% per annum). This rate of interest, together with the free loan insurance and other benefits make your Credit Union by far the best option for personal loans.
A credit union cannot charge more than 1% per month on the reducing balance of your loan. That means a € 1,000 loan repaid monthly, over one year will cost you a maximum interest payment of € 51.34. Normally there are no fees or transaction charges. Check out our loan calculator by registering online for a loan that suits you.
See the savings and benefits for yourself and apply for a CU loan today...
- Competitive variable interest rate 10.4% APR, calculated on a reducing balance, this means you pay interest on what you owe.
- Easy application process callsave 1890 28 56 26 or apply online or call into either Credit Union office.
- Loans are insured at no direct cost to the eligible member
- Easy repayment options by direct debit or salary deduction.
- No hidden fees or transaction charges
- Repayment terms to suit your particular circumstances
- You can repay the loan earlier with no penalty
- No Interest charged on interest
- Additional lump sum repayments accepted with no penalty
- Flexibility to make larger repayments than agreed with no penalty
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