Rates

Low Interest rates ranging from 5.3% APR* to 9.9% Apr

Personal loan rates can be higher than 10% APR, Credit Cards 19% APR*

Fees

We don’t charge any processing or documentation fees for loans

Many lending institutions charge documentation fees (as much as €50)

Insurance

Free Life Loan Protection

Insurance*

You pay for any loan protection insurance

Free Death Benefit Insurance Cover

You pay for any extra insurance cover

Early Payment

No penalties for paying off your loan early

Often penalties are applied for paying off your loan early

Loan Application

Easy application process and a quick decision

Lots of documentation and you may have to wait long periods for a decision

Surplus

You as a member, benefit from any surplus that we make by way of a yearly dividend

Unless you are a bank shareholder you do not get any of the surplus back.

More loans issued, more interest, greater dividends for you the member

More loans, more interest, greater dividends for the banks shareholders

Rebates

You get money back on your interest paid if a loan interest rebate is paid

You do not get a loan interest rebate

Interest

Interest charged on the reducing balance of the loan, therefore you pay less interest as the loan decreases

In most cases, you pay the interest off first then you pay the actual loan which you have taken out

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Membership details ascertained -
identification, address (current and previous), PPS number or Tax Number. Residence & Domicile of Member

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good credit rating, track record, existing borrowings

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ability to repay the loan i.e. member is not financialy overextended

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willingness to repay

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acceptable loan purpose, estimates of expenditure

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proof of earnings - income, employment details, social welfare payments
- a guarantor or other security may also be required

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honesty & integrity

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member holds the common bond of Tipperary Credit Union