We have introduced a new First Time Borrowers loan rate, available to all members who do not currently have a loan with First South Credit Union. The loan interest rate is 7% variable (7.23% APR) and the loan can be for any purpose*.
|Type of Loan||Amount of Loan||Variable Rate||Repayments Term||Monthly Payment||Total Cost of Loan|
|First Time Borrower||€5,000||7.23% (APR)||3 Years||€154.40||€5,557.14|
- Loan is available to new and existing members
- Cannot have an existing loan with First South Credit Union
- Only available to each member once
- Can be for any amount
- Normal loan procedures apply
*If the loan is subsequently ‘topped up’, the First Time Borrower loan rate will be superceded by the new top-up loan rate.
For a €5,000, 3-year variable interest rate loan, with 35 monthly repayments of €150.40 plus one final payment of €153.60, an interest rate of 7%, a representative APR of 7.23%; the total cost of credit is €557.60; the total amount payable by the member is €5,557.60. Information correct as at 24/01/2020.
Thinking of getting a loan?
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