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NewsNEW 3.5% Special Savers Loan
7-January-2021
NEW 3.5% Special Savers Loan
We are excited to announce a limited-time Special Savers Loan within shares offer.
Who is it for?
It’s a product designed especially for those members with over €30,000 in their Share Account (aka Savings Account), and who want to retain those savings while borrowing between €30k and €80k.
What’s the interest rate?
A very low 3.5% (3.56% APR)!
What’s special about this product?
The rate of interest is the lowest rate we have ever charged! And, as always, we offer great terms & conditions including: a repayment schedule to suit you, a declining loan balance, a quick and easy loans process, free loan protection insurance*.
Why borrow when I have savings?
It takes time, and often sacrifices, to build up a nest egg! When you build up your nest egg you most likely want to protect it, so by ‘borrowing within shares’ you get to keep those savings intact while you repay your loan at a very low interest rate.
How do I apply?
Pop into us in the Square, Kilcock, we’re open 5 days a week (including Saturday).
How long will this special loan rate be available?
From 1 September 2020 to 31st December 2020 (new extended date).
Sample repayments:
Loan amount: €30,000
Interest rate: 3.5% (3.56% APR)
Loan Term: 5 years
Weekly repayments: €125.78
Interest rate: 3.5% (3.56% APR)
Loan Term: 5 years
Weekly repayments: €125.78
Total repayments: €32,702.05
Interest: €2,702.05
To see what repayments would be use on your chosen loan amount click here to use our online loan calculator.
Whilst every care has been taken in the production of this web page, the credit union or any of its staff cannot be held responsible for any omissions, errors or other mistakes made. This web page is for illustrative purposes only, so as to give you, the borrower, an overview of the potential cost of borrowing.
You need to be a member to apply for a KILCU loan, but joining is quick and easy. Click here to download an application form.
*Terms & conditions apply, including: the loan value must always remain below the share value over the life of the loan; 'unattached' shares (i.e. shares remaining after loan draw-down) may be withdrawn at any time. The 3.5% rate only applies to new loan applications and will not be available where a member has an existing loan at a higher rate and requests to 'refinance' to the lower rate.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may affect your ability to access credit in the future.
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