Covered Loan
Covered Loan
7.95% (8.27% APR)
About Our Covered Loan
A covered loan (loan within your shares) with Donore Credit Union allows you to borrow up to the value of your savings without dipping into your hard-earned savings. Instant approval - simply apply and receive loan straight away. Not restricted to any loan purpose and fully Secured by Shares (shares will immediately offset against loan if arrears occur - after 9 weeks). Also helps to establish your credit rating within the credit union.
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Explore our Loans
We have the right loan to suit you
1
Become a Member
Once you are living, working or studying within our common bond you are eligible to join us today and start borrowing.
2
Calculate your Loan
Estimate how much you could borrow and calculate your repayments: weekly, fortnightly or monthly using our calculator.
3
Apply for Loan Online
Apply for your loan from the comfort of your home. The Application process is easy and quick.
4
Sit back and relax!
The decisions are made quickly on loan applications and, if is approved, the funds are issued within 48 hours.
Loan Calculator
Apply for a loan with interest rates that suit you!
Maximum Loan Term :
8.27%
8.27%
8.27%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Representative Example
The example will help to show you the typical costs associated with a loan
Loan Amount
€5,000
Rate of interest - APR
8.27%
Loan Term
3 years
Total interest
€637
Monthly Repayment
€157
Total Cost of Credit
€5,637
Our Benefits
The benefits of borrowing from us
We offer loans ranging from €150 to €150,000
You can easily apply for a loan in-person at the office or directly through the website or mobile app.
No early repayment fees and no hidden fees or charges.
Repayments are flexible and tailored to suit the individual borrower's needs.
Interest is charged only on the outstanding reducing balance
Loans are based on the ability to repay and not only on savings in the Credit Union.
One of the benefits of membership is the fact that your Loans are covered by life cover.
You can have two or more loans at the same time.
