Promotional Loans

Larkhill & District Credit Union offer a number of promotional loan rates to its members. The following outlines each of the loans available.

Loans within Shares 4.9% (APR 5.01%)

• Loan Balance must be equal to or less than the Share Balance for duration of the loan.

• Applies to Loans within Shares.

• Shares are held as collateral.

• If a member does not make 3 consecutive monthly (12 weekly) payments on the Loan within Shares, shares to the value of the loan and interest due will be transferred to cover the full outstanding amount.

• Loans are subject to approval. Normal Lending Terms & Conditions will apply.

**For a €3,000, 3 year variable interest rate loan, with monthly repayments of €89.78, an interest rate of 4.9%, an APR of 5.01%; the total amount payable by the member will be €3,232.05. 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.

Car Loan 6.75% (APR 6.96%)

• Maximum Loan €40,000.
• Will cover purchase of New & Second hand cars.
• Shares are held as collateral.
• Must have paperwork & cheque to be made payable to garage or 3rd party whom the car is being purchased from.
• Maximum term is 5 years.
• Member may refinance existing car loan provided proof is presented.
• Loans are subject to approval. Normal Lending Terms & Conditions will apply.

**For a €15,000, 5 year variable interest rate loan, with monthly repayments of €295.26, an interest rate of 6.75%, an APR of 6.96%; the total amount payable by the member will be €17,716.29. 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.

Four Seasons Loan 6.99% (APR 7.22%)

• Will cover all annual expenses such as Holidays, Car Tax & Insurance, Home Insurance, and Christmas etc.
• Must be repaid within one year.
• Shares are held as collateral.
• Maximum Loan €3,000.
• Loans are subject to approval. Normal Lending Terms & Conditions will apply.

**For a €2,000, 1 year variable interest rate loan, with monthly repayments of €173.05, an interest rate of 6.99%, an APR of 7.22%; the total amount payable by the member will be €2,076.72. 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.

Education Loan 4.9% (APR 5.01%)

• Maximum Loan €5,000.
• Will cover Primary/Secondary/Third level education.
• Shares are held as collateral.
• Maximum loan for Primary €1,000.
• Must have paperwork for full amount.
• Must be repaid within one year, this may be extended but will be assessed on a case by case basis
• Loans are subject to approval. Normal Lending Terms & Conditions will apply.

**For a €2,000, 1 year variable interest rate loan, with monthly repayments of €171.13, an interest rate of 4.9%, an APR of 5.01%; the total amount payable by the member will be €2,053.61. 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.