Instead of withdrawing your savings, put them to use!
It can take a long time to build up your savings, so when it comes time to making that big purchase you may be reluctant to withdraw your savings. With a Covered Loan from Rathkeale & District Credit Union, you don’t have to.
Our Covered Loan is a cost-effective way of access funds while leaving your savings intact and available for other purposes. You are allowed to borrow up to the value of your savings at a special reduced rate of interest while continuing to earn a dividend on your savings.
Borrow at 6% (6.18% APR) for any purpose
7 Reasons Why A Covered Loan Is The Smart Choice
- One of our lowest interest rates available
- Your savings remain intact and available for other eventualities
- Repayment is calculated on the reducing balance
- Flexible repayment options
- There are no restrictions on the purpose of the loan
- You continue to earn a dividend on your savings account
- It is easier to repay a loan than to replace savings