Benefits of Student Loans from First South Credit Union

15 May, 2023

Higher education can be costly, but with a student loan from First South Credit Union, financing your education is much more accessible. Here are some of the benefits of a student loan from First South Credit Union.

Convenient and Easy Application Process

Applying for a student loan can often be a daunting process. However, with First South Credit Union, the process is straightforward – and only takes a few minutes! Our online application process is easy to follow, and if you need assistance or someone to walk you through it, you can call us on 021-4965134 or pop into any branch during opening hours. Our friendly team will be able to provide you with all the information you need.

Loan not Dependent on Savings

Not having any savings shouldn’t hold you back from seeking a student loan. At First South Credit Union, we approve your application based on your ability to repay the loan rather than the amount you have saved.

Making use of a Guarantor* is also an option for those who can’t afford to repay alone. This guarantor is required to be a member of First South Credit Union and standard underwriting will apply.

Competitive Interest Rates

First South Credit Union offers student loans at a very competitive interest rate of just 7.98% APR!

A student loan of €1,500 over 2 years with 24 monthly instalments costs €67.63 per month at 7.90% variable interest rate (Annual Percentage Rate 7.98%). The total amount you pay is €1623.52. The total cost of the loan is €123.52.

Flexible Repayment Terms

Repaying a student loan can be stressful, but First South Credit Union offers flexible repayment terms to ease the burden. You can choose a repayment period that works best for you (weekly, monthly or fortnightly) over a maximum term of 5 years, depending on the loan amount.

No Prepayment Penalty

At First South Credit Union, we believe that you should only pay for the loans you need. This is why we do not charge prepayment penalties. You can payoff the loan early without any added cost or hidden fee, which can save you money in interest charges.


In summary, opting for a student loan from the First South Credit Union means low interest rates, flexible repayment terms, no prepayment penalties, convenience and an easy application process. So if you need financial support to achieve your educational aspirations, reach out to First South Credit Union and let us help you begin your educational journey with confidence.

Apply online today or alternatively, you can call us on 021-4965134 or visit us in any branch.

*Guarantor may be required.

Warning: The cost of your monthly repayments may increase.

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 access credit in the future.

Loans are subject to approval. Lending criteria, terms and conditions apply.
First South Credit Union Limited is regulated by the Central Bank of Ireland.