Don’t blow all your savings for that next big purchase, take a Covered Loan with us instead. Borrow at a discounted rate and keep all your savings intact.
Covered Loan makes perfect sense for the financially cautious. You can use it for any big purchases or family circumstances. It will be easy to repay a loan than replaces your saving while keeping your savings off-limits (and out of temptation’s way), until your loan is fully paid. You can borrow up to the value of your savings, pay a discounted interest rate and your savings will still be there for you when you’re finished paying your loan.
LOAN AMOUNT | €5000 |
VARIABLE INTEREST RATE | 6.99% (7.24% APR*) |
MONTHLY REPAYMENTS (10 Y) | €108.70 |
TOTAL INTEREST PAYABLE | €1516.76 |
Apply for a covered loan online within minutes using our website. Get a approved within 24 hours of submitting your application.
Getting a covered loans means that you don't withdraw on your heard earned savings and continue to earn interest on them.
Choose between weekly, fortnightly or monthly repayments. No extra charges for early repayments.
The interest is calculated on a reducing balance. This means that your interest repayments will decrease as your loan amount decreases.
Get a built in insurance with credit union covered loan. (To protect your dependents in case of extreme circumstances).
Enjoy a special discounted interest rate for covered loan. You won't need to pay any deposits or lump sum payments.
Click here for Covered Loan Terms and Conditions.
If you are already a member, and you want to register for online access, click the link below to get started.
Find your nearest MFCU branch here.
You can reach us on (01) 851 3400.
