Secured Loan

Secured Loan 6% (APR 6.16%)

Do you have savings with us at Ballynahinch Credit Union? Why not secure your loan against them and take advantage of our Secured Loan with our lower interest rates.

Maximum Loan Amount :
Maximum Loan Term :

£

Term

Repayment Frequency
£
APR
6.17%
Repayments
Total
Apply for Loan
£
APR
6.17%
Repayments
Total
Apply for Loan
£
APR
6.17%
Repayments
Total
Apply for Loan
£
APR
6.17%
Repayments
Total
Apply for Loan

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.

Borrowing with us

  • Personalised Service
  • Lower Rates on Loans
  • Competitive Rates on Savings
  • Savings Protection
  • Free Life Insurance
  • Online Services

Benefits Of Loans With Us

  • Apply Online
  • No Hidden Fees
  • No Penalties For Early Repayment
  • Competitive Interest Rates
  • Flexibility To Increase Payments
  • Free Loan Protection Insurance

Lending criteria

Secured Loan 6% (APR 6.16%)

Secured Loan 6% (APR 6.16%)

Repayments are calculated on your reducing balance, so you pay less interest with each payment. You can pay off your loan early, make additional lump sum payments or increase your regular repayments, without a penalty. Maximum term 10 years.

Proven Ability to Repay

Proven Ability to Repay

It is our responsibility to all members to ensure that we only lend members’ money to other members when it has been established that there is an ability to repay the loan. A borrower must be able to afford the loan repayments, including interest, over the full duration of a loan.

Free Loan Protection Insurance

Free Loan Protection Insurance

Subject to terms and conditions. Your credit union loan is insured at no direct cost to you. Other lenders charge for this.

What we require from you

1

Outgoings

3 months bank statements (most recent)
Credit card statement (if applicable)
Mortgage statement (if applicable)

2

Proof of Income

Employed - 2 recent pay-slips
Self-employed - Most recent set of accounts and latest tax returns OR Notice of self-assessment
Social Welfare – 2 recent payment receipts
Retired – Proof of all pensions

3

Identification

Photo ID - Passport, Driving Licence, Student Card
Proof of Address - Current utility bill or bank statement (within 3 months)
Proof of Address - Government issued documentation relating to tax or benefits (within 3 months)

How to Apply

Apply Online via Online Banking, or speak to us in your local branch.

*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 Ballynahinch credit in the future. **Loans are subject to approval. Terms and conditions apply. If you do not meet the repayments on your loan, your account will go into arrears.

Join On The Go

You can join using your smartphone or tablet device. Simply download our Mobile App and take full advantage of joining on the go.