Loan against SavingsLoans against savings
We can loan members with a Loan of Advance Loyalty: prepayment loan: The loan is available to members who have at least £250 in their savings.
The savings in the amount of the loan are kept as collateral and can only be reversed after the loan has been reimbursed. The members keep paying their periodic savings together with the repayment of their credits and build up a penny for the date of repayment of the loan.
SavingsSecure loan is an excellent choice if you need to get your hands on cash but want to keep your savings up. If you use your savings as collateral, you profit from one of our low interest rate for your loan - only 3.5% representative annual interest rate. In the event that the SavingsSecure Loan net amount is reduced, the amount of savings pledged as collateral shall be reduced in proportion to the amount due.
A SparSecure loan has a 15 year redemption period. Advantages of a savings loan: You can make additional refunds or repay your loan prematurely and without penalties. The Loan Protection is developed to help you and your loved ones by offering them monetary protection that ensures that when your loved ones need you most, your debts* will be repaid.
Conditions for this member's performance may vary from period to period. Credit protection is granted for savings and security loans up to the retirement of 79 years.
Safe savings - East Kilbride Credit Union
If the amount you are lending is less than or the same as your stock 1 credit, a loan is safe. If I have savings, why lend? Do you really want to make up for your savings? Now, don't bother with your savings and lend them a loan. The withdrawal of your stocks also will reduce your credit strength in the long term, because the less you economize, the less you can lend.
When you want to request a safe loan, you can contact the bureau and talk to a loan advisor or just click here to get an online request page. For more information or to review our refund policy, please call us on 01355 224771.