Boyle Credit Union Loans
Why a Boyle Credit Union Loan is better?
• Reasonable interest rates
• Loans are insured at no direct cost to the eligible member link to insurance
• No hidden fees or transaction charges
• Repayment terms to suit your particular circumstances
• You can repay the loan earlier with no penalty.
• Additional lump sum repayments accepted with no penalty
• All loan interest is charged on the reducing balance, you pay interest on the amount outstanding not the amount you borrowed.
• Flexibility to make larger repayments than agreed with no penalty.
How do I Apply for My Credit Union Loan?
• Simply call to our office where our staff will help you complete the loan application and assess which loan product best serves your needs
• Applicants may be asked to produce supplementary financial data such as proof of income, bank or credit card statements or their ICB report.
• Members can download a loan application here
• Only members of Boyle Credit Union may apply for loans – Get application form
Boyle Credit Union Loan Products
Boyle Credit Union currently offers 5 loan products. Eligibility terms and conditions apply to each product please ask our staff for details.
1. Social Finance Loan: This product is available to clubs, groups, organisations and societies who are engaged in projects to enhance the social infrastructure or capital of our area. The rate on the reducing balance for this loan is 5.00% (4.98% APR)
2. Home Improvement Loan: This product is available to all members for bona fide home improvements, deposits, extensions etc. Proof of loan purpose may be required. The loan rate for this product is 9.50% APR
3. Education Loan: This product is available to all members for education expenses. Proof of loan purpose may be required. Where students are borrowing members a suitable guarantor may be required. The loan rate for this product is 6.50% APR
4. Car Loan: This product is available to all members for car purchase. Proof of loan purpose is required and cheques may be made payable to the seller of the car. The loan rate for this product is 9.50% APR
5. Standard Loan: This product is available to all members for any provident or productive purpose. The APR for this product is 12.68%. This product may attract a loan interest rebate. In the Financial Year 2008-2009 members who availed of this product were rebated or refunded 15% of all loan interest they paid.
6. Secure Loan: This product is available to all members who apply for a loan fully covered by shares. The loan rate for this product is 5.00% (4.98% APR)
6. Wedding Loans: This product is available to all members who apply for a loan fully covered by shares. The initial loan rate for this product is 9.5% but if 30% of loan is repaid within three months of drawdown date the rate reduces to 8.5%