Loans

Loans

Take out a loan with Rathmore CU

Whether you're looking to borrow to help with your household expenses or for a larger purchase, we have the right personal loan to suit you.

We've made it easy to borrow as little as €100 or up to €75,000 at a fair, affordable rate with no application fees and no early repayment charges.

Our Loans at a Glance

Standard Loan

Standard Loan

  • 9% (9.41% APR)
  • Borrow up to €25,000
Standard Loan < €25K

Standard Loan < €25K

  • 7.5% (7.78% APR)
  • Borrow up to €75,000
Car Loan

Car Loan

  • 6.5% (6.7% APR)
  • Borrow up to €75,000
Home Improvement Loan

Home Improvement Loan

  • 7.5% (7.78% APR)
  • Borrow up to €75,000
Education Loan

Education Loan

  • 6% (6.18% APR)
  • Borrow up to €15,000
Loan Within Shares

Loan Within Shares

  • 5.5% (5.64% APR)
  • Borrow up to 100% of your savings
First Time Borrower Loan

First Time Borrower Loan

  • 6% (6.18% APR)
  • Borrow up to €5,000
Housing Loan

Housing Loan

  • 4.5% (4.59% APR)
  • Borrow up to €300,000
Agri Loan

Agri Loan

  • 5.95% (6.11% APR)
  • Borrow up to €75,000
Commercial Loan

Commercial Loan

  • 8% (8.3% APR)
  • Borrow up to €25,000
Community Loan

Community Loan

  • 6% (6.18% APR)
  • Borrow up to €125,000

 

Loan Calculator

Maximum Loan Amount :
Maximum Loan Term :

€

Term

Repayment Frequency
€
APR
9.41%
# Repayments
Total
Apply Now
€
APR
9.41%
# Repayments
Total
Apply Now
€
APR
9.41%
# Repayments
Total
Apply Now
€
APR
9.41%
# Repayments
Total
Apply Now

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.

Need a Loan?

Need a Loan?

At Rathmore Credit Union we are committed to making a decision in relation to your loan application as speedily as possible. Whether you’re a first time borrower, a member who has borrowed regularly, or a student starting college, we would be delighted to hear from you.

We are here to serve you our members, and welcome new members, whom we would be delighted to hear from. Our lending processes are transparent, timebound process, member focussed, and we strive for exceptional member service on each and every occasion.

So what makes borrowing from Rathmore Credit Union different?

We have a team of experience lenders in Rathmore, Milltown & Ballydesmond, waiting to hear from you.

We will take you through the lending process in a speedy, efficient manner, answering any queries you may have.

We cater for all situations - Employed, Self Employed, Homemakers, Students, Unemployed or Retiree’s.

We will meet you at a time that suits you ie early in the morning or late in the evening.

Our criteria isn’t based on having a certain amount of savings, rather it’s based on ability to repay.

We will put you, our member, at the centre of the lending process from start to finish.

We’re a co-operative, owned by members, so exceptional member service is at the core of our ethos

We will be delighted to stick on the kettle and make you a cuppa when dealing with the above!

Information required for all loan applications
  • A fully completed loan application and health declaration signed by the applicant(s) and guarantor(s) where applicable.
  • Proof of income - i.e. a minimum of 3 recent payslips.
  • 3 Months Current Bank Statements

The above conditions also apply to husband/wife/partner, who are both wage earners with individual accounts. If either of the parties requires a loan in excess of €10,000 then security as deemed necessary by the Credit Committee may be required.

Notice of assessment, issued by Revenue Commissioners, together with a letter from Accountant/Auditor confirming that all taxes are paid and up to date will be required from members who are self-employed.

Please note that this information is intended as a general guide only. Full information in regard to loan applications is available from the Credit Union offices.

Loan application procedures
  • Loan application forms are available to members in the Credit Union offices.
  • First time loan applicants shall be interviewed by either the Manager, a Credit Officer or a member of the Credit Committee.
  • The Credit Committee will consider all first time loan applicants for approval.
  • All loan applications will be treated in confidence and considered on their own merits, up to date personal circumstances and in accordance with the law and the Standard Rules of the Credit Union.
  • All application forms must be fully completed and signed by the member. In the case of a joint account both parties must sign the application form.
  • All loan applications must be accompanied by documentation of proof of earnings e.g. minimum of 3 payslips, P60 or P21 balancing statement etc.
  • In the case of a loan requiring a guarantor, the guarantor must satisfy the Credit Union of their ability to repay the loan in the event of default by the borrower, and provide such proof as may be requested by the Credit Union.
  • Applications from members with previously written-off loans may only be approved by the Board of Directors.
Interest Rates
  • The rate of interest for ordinary members’ loans is currently 9% per annum.
  • The rate of interest for Community loans is currently 6% per annum.
  • The rate of interest for Student/Apprentice loans is currently 6% per annum.
  • The rate of interest for Share Guaranteed Loans is currently 5.5%
Benefits of a Credit Union loan
  • Loans are insured at no direct cost to the eligible member
  • No hidden fees or transaction charges
  • Reasonable interest rates
  • Repayment terms to suit your particular circumstances
  • You can repay the loan earlier than agreed without penalty
  • Additional lump sums accepted without penalty
  • Flexibility to make larger repayments then agreed without penalty
  • Interest decreases as your loan balance decreases
  • Free life savings and free loan protection insurance (limits apply)
  • Optional repayment protection insurance available