Covered Loan

Re-member your first … dance together?

“Getting married was an easy decision. There was no great master plan. I proposed in the moment. It just felt right. Rosanna and I had been dating for two years; I knew I wanted her to be with me. We didn’t hang around, and with a wedding loan from Member First CU, we were married in 3 months. Even better, we had enough savings to avail of the promotional covered loan from Member First CU”.

~ Rosanna Del-Rio and Ian Matthews

 

It can take a long time to build up savings, so when it comes to making a big purchase you might be reluctant to use them all and have nothing left over. A covered loan is a cost-effective way to access funds while leaving your savings untouched. You are allowed to borrow up to the value of your savings at a discounted rate of interest while continuing to earn interest on your savings.

 
Why a Covered Loan makes sense!
• 24 Hour Loan Approval
• One of our lowest interest rates on offer
• Flexible repayment options
• It’s easier to repay a loan than replace savings
• You continue to earn interest on your savings account
• There are no restrictions on the purpose of the loan
• You won’t dip into your savings because you cannot withdraw the secured amount until your loan is fully repaid

 

Promotional Covered Loan 5.99% (6.16% APR*)

Representative Example

Loan Amount Variable Interest Rate Monthly Repayments over 5 Years Total Interest Payable
€5,000 5.99% (6.16% APRC*) €96.66 €796.48

 

*APRC = Annual Percentage Rate of Charge

Normal lending criteria, terms and conditions apply.