With the uncertainty in the financial markets causing a stir amongst the banks, Kells Credit Union remains steadfast in their quest of providing low cost loans to members with no hidden fees or charges and additional benefits you won’t get anywhere else!
Our loan interest is calculated to your advantage
Most financial institutions calculate the interest due at the start of a loan. This means that even as you reduce the size of your loan, your interest will remain the same throughout. With your credit union, your interest reduces as your loan reduces. With additional repayments or early clearance of a loan, you pay even less interest! Some financial institutions penalise you for lump sum repayments for clearing your loan early. WE DON’T! Since Oct 07, loan interest is calculated on a daily basis. This is also in the best interest of you our members.
No fees, charges or penalties
Your credit union has no document fees, arrangements fees, facility fees, rescheduling fees or any other fees on loans. We don’t penalise you for clearing your loan off early either! With other financial institutions you need to read the small print because quite often there are extra fees and charges on their loans. Sometimes the following warning appears “You may have to pay charges if you pay off a fixed-rate loan early”. These fees, charges and penalties can mean a great difference in the amount you actually end up paying. Your credit union is different. What you are quoted is what you pay! Don’t be afraid to ask for the total cost of your loan so that you can compare our loans against other loans and remember you can reduce the interest you pay your loans by making additional repayments or by clearing your loan off early (with no penalties!).
Your loans die with you
Your credit union provides Loan Protection Insurance* on the lives of its eligible borrowing members at no extra cost providing you were in good health when taking out the loan. Should an insured borrower die or become totally and permanently disabled, the insurance cover provides that the loan balance will be fully cleared *. With other financial institutions this type of insurance usually costs extra.
Other Insurance products that add value!
Life Savings Protection Insurance* – Your savings are insured for life at no extra cost. Depending on your age and how much you have saved with your credit union over the years, this insurance could provide your dependants with up to €12,700* on your death.
Payment Protection Insurance* – This low cost insurance covers your repayments in the event of accident, sickness, redundancy or if you are self – employed, critical illness. This is an optional extra, which could give you peace of mind.
For all your loan requirements, check out Kells Credit Union first! Loans and Insurance Products are subject to certain terms and conditions. Kells Credit Union is regulated by the Central Bank of Ireland.
