Make your savings work for you with a low cost Secured Shares Loan
Most members find it easier to repay a loan than replace savings as saving money takes alot of time and effort and so that's why we have a Secured Shares Loan. A Secured Shares Loan allows you to borrow money without having to dip into your hard earned savings.
With a Secured Shares Loan, also known as a Secured or Covered Loan you can borrow up to the amount you have in savings at our lowest current interest rate of only 6% (APR 6.17%). This is one of the easiest, quickest and cheapest ways to borrow money from South Dublin Credit Union.
You borrow money using your own savings as security and we put a temporary hold on an amount of your shares equal to the value of your loan until it is repaid in full. This gives you a very cost effective way to access funds today with a low interest rate while guaranteeing your savings are untouched and available for you to spend in the future as you wish.
If you're still wondering whether a Secured Shares Loan is right for you take a look at this example. If a member has €4,000 in savings and wants to borrow €2,500, they can get a reduced interest rate if they pledge €2,500 from their savings against the loan.
By pledging their Shares, the member cannot access the €2,500 until the loan is paid back. They can however access the remaining €1,500 based on the above example. The amount pledged reduces as you repay the loan and so you only have to keep enough shares in your account to cover the outstanding loan balance.
Apply below for a Secured Shares Loan today and start enjoying the benefits of having access to finance without having to dip into your savings.
. Borrow from €500 up to €100,000
. Special low cost interest rate of only 6% (APR 6.17%)
. Loans can be repaid over a period from 1 year up to 10 years
. You continue to be eligible for any future dividends on your savings account
Try out our quick and easy loan calculator below
Maximum Loan Term :
6.17%
6.17%
6.17%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Why choose our loans?
- No hidden administration fees or transaction costs
- Low interest rates
- Loan repayments are tailored to meet your own personal circumstances
- Loans are insured at no direct cost to the member
- No Early Repayment Fees
- Loan applications are dealt with strictly on their own merits
Ready to apply?
Are you ready to apply for your affordable loan? Click on the "Apply Now" button below to start your loan application right now.
Members may also apply for loans through our Mobile App, by phone, by email or in person in our office in Stillorgan
To ensure a quick and efficient loan application process, please ensure you have the following documents ready before starting your loan application:
. A passport or driving licence . A current utility bill, bank or credit card statement (dated in the last 3 months) . Your 3 most recent payslips or social welfare receipts . Proof of any other household income . Your bank statements for the past 3 months
For joint applicants please provide the above documents for both applicants. For self employed applicants we require 2 years signed accounts from your accountant plus your Latest Notice of Revenue Assessment or a letter from your accountant confirming that your tax affairs are in order and up to date.
NOTE: Additional documentation may be requested depending on your personal circumstances.
If you want more information on our great value loans click on the "Contact Us" button below to send us a message or phone/drop into to our office in Stillorgan and talk to one of our friendly staff.
Apply Now Contact UsWarning - 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.
Lending criteria, terms and conditions apply.
