Did you know that you can borrow up to €80,000 from Kilcloon Credit Union?
There are some terms and conditions attached, but not many! Here is some useful information if you are considering borrowing from us:
- Borrow up to €80,000 (covered loan), or €60,000 (uncovered loan)**
- New Members can apply for a loan straight away
- You do not need to have saved with us before applying for a loan, but you do need to be a member
- You can borrow over any period from 1 to 10 years
- We provide Free Loan Protection Insurance (some Ts&Cs apply)
- We offer flexible terms & repayment options
- We offer a number of competitive Loan Rates
- There are no penalties for early repayments
- There are no set-up, documentation or administration fees
- The more you pay off your loan, the less you pay as interest is applied on the reducing balance
- You can use our handy online loan calculator to see what your repayments would be
So, you’ve decided you would like to proceed with a loan. What do you do next?
- For casual enquiries, you can call in for a chat with our friendly staff, or fill in this Online Loan Enquiry form.
- To get the application process started, you can download a Loan Application Form and fill it in before dropping it into our office.
- We will want to find out your income and outgoings and may ask for supporting documentation (e.g. bank statement, payment slips etc.).
- If we have all the supporting documentation we need from you we aim to have a decision on a loan application as quickly as possible and typically within 48 hours.
- Once all paperwork is sorted, we can transfer the approved amount to you by EFT (to your chosen bank account) or you can call in to our office to collect your cheque.
- We prefer you to pay your loan by Standing Order, but we can accept regular payments made over the counter in-person.
*Each loan application is subject to credit assessment. The 5% APR rate applies to covered loans and loans Over-65's. A covered loan of €30,000 over 60 months, at 4.89% (5% APR), will give rise to repayments of €564.63 per month; an uncovered loan of €30,000 over 60 months, at 7.95% (8.25% APR), will give rise to repayments of €607.57 per month. Failure to keep up repayments on your loan will lead to your account going into arrears, which may affect your ability to access further credit. Financial regulation requires that all loans in excess of €500 must be notified to the Central Credit Register, operated by the Central Bank of Ireland.
**A covered loan is one where the value of savings held in the credit union equals the value of the amount borrowed; an uncovered loan is where savings do not at least equal the value of the amount borrowed.
If you have any queries on loans or any other service please feel free to contact us:
Call us on 01 628 7824.
Email info@kilcu.ie
Pop in to our office in The Square, Kilcock.
