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Secured Loan – 4.85% (5% APR) Variable

Secured Loan – 4.85% (5% APR) Variable

“Borrow against your savings while keeping your nest egg in place”

 

Why choose a Letterkenny Credit Union Secured Loan?

  • No hidden costs or administration fees
  • No penalty for early payback, you can pay the loan off early or make lump sum payments with no additional charges
  • Free life cover on your loan (subject to terms & conditions)
  • Low-Cost Loan- affordable loans
  • Flexibility to repay your loan with terms of up to 10 years
  • Repayments to suit you – weekly, fortnightly, 4-weekly or monthly
  • Fast and efficient service, for loans less than €10000 you can collect the loan on the same day you apply.

 

Term & Conditions

  • Applications are open to all members of Letterkenny credit union ltd
  • Members can take a loan up to the value of their savings
  • Loans can be issued against cleared funds only
  • Shares are held as security
  • Max term 120 months

 

For ALL secured loans we require

  • Proof of PPSN  (Payslip, document from  Revenue or Department of Social Welfare)
  • Photo ID- Current Drivers licence or Passport
  • Proof of your Address dated within the last 24 months: A current utility bill or bank statement or government letter
  • A fully completed loan application form

 

For secured loans greater than €10,000 we need the detail above and the following

  • 1 recent receipt of any income you receive (this may include payslips, social welfare receipts, pension receipts).
  • If you are Self Employed we need your most recent Form 11 Notice of Assessment

 

APPLYING FOR YOUR LOAN IS EASY

Apply through your cu online members area

Apply through the Letterkenny Credit Union App

Apply in person

 

CONTACT DETAILS OF LOANS TEAM

Should you have any queries contact our loans team

Email: Loans@letterkennycu.ie

Phone: 074 91 02 126

 

REPRESENTATIVE EXAMPLE

Secured Loan Amount Term 60 monthly Repayments Total Amount repayable
€10,000 5 years €188.04 €11,281.35

Representative example correct as at 02.06.2020

 

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 limit your ability to access credit in the future.

 

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