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First Time Borrower Loan

Limited Time Only - Offer ends November 2nd 2024

Why Borrow With Us?

Special Rate

First Time Borrower Loan 8% (8.29% APR).

Easy Application

Start Your Application Online.

Join & Apply

No Waiting For New Members

Borrow Up to €25,000

Offer Ends 2nd November 2024.

First Time Borrower Loan

Key Features

A special Offer for members who have never borrowed from Claddagh Credit Union

Details

  • Loan Protection Insurance
  • No penalty charges for early repayment.
  • No hidden fees or set up costs.
  • No upfront repayments.
  • No transaction charges.
  • Low Rate  –  8% (8.29% APR*)
  • Repayments up to 5 years
  • Borrow from €100 to €25,000
  • No Top Ups allowed
  • Deadline for loan applications will be Saturday 2nd November 2024

Read Product Terms & Conditions

Contact us and see if we can help!

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Loan Calculator

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  • Interest calculated at 8% variable rate (8.29% APR).
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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, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.

Warning: The cost of your monthly repayments may increase.

A loan of €5,000 over 3 year with 36 monthly instalments costs €156.68 per month at a variable rate 8% (Annual Percentage Rate (APR) 8.29%). Cost of credit is €640.48. The total amount you pay is €5,640.48. Variable rates may increase which would cause the cost of credit to increase.

Terms & Conditions Apply –Whilst every care has been made in the production of this information, it is for illustrative purposes only and to give you an overview of the potential cost of borrowing at Claddagh Credit Union. It does not constitute a loan offer.

Loans are subject to approval. Terms and conditions apply. * Terms and conditions apply to Free Loan Protection Insurance.

*APR Annual Percentage Rate

First Time borrower Loans 8% (8.29% APR)  Terms and Conditions:

Applications for loans are welcome from anyone who is a member and regular saver. The main criterion for providing a loan is the ability to repay without undue stress. The length of membership, regularity of savings, size of loan, ratio of loan to savings, are among the factors taken into account when considering a loan application as well as an individual’s history regarding previous loans. The credit union needs to have evidence of earnings to assess the ability to repay the loan

  1. The said loan will be used for the purpose of a member borrowing for the first time with Claddagh Credit Union and will only be available for a limited period.
  2. The minimum loan amount is €100 and maximum loan balance is €25,000
  3. The loan term/duration will be of a maximum term of 5 years.
  4. Top ups are not permissible on this loan.
  5. Separate Loan Type and separate payments required.
  6. Only one loan of this type per member.
  7. Account must not go into arrears, otherwise the loan will revert to the Standard Rate.
  8. Set-up automated repayment such as Payroll Deduction or Direct Debit for repayments.
  9. Board of Directors reserve the right to alter the Special Rate Loan interest rate at any time.
  10. No Interest Rebate will be paid on this Special Rate Loan.
  11. The Terms & Conditions on the Credit Agreement are also applicable.