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Credit union loan

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  • 03-04-2006 7:43pm
    #1
    ApeXaviour
    Registered Users Posts: 5,523 ✭✭✭


    I'm quite financially retarded. I have a credit union account and have a semi-decent amount of money in it. No idea what type of account it is though (if there are different types?). I'm looking to take out a holiday loan, creditunion.ie don't seem to offer any information as to how much you can take out. I've heard off some people it's twice what you have in and off others that it's three times.

    How much is it?

    Thanks


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    #2
    johnnyrotten
    Registered Users Posts: 3,593 ✭✭✭johnnyrotten


    The general rule is 3 times your share( Savings) but most credit unions will load you a lot more.


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    #3
    ApeXaviour
    Registered Users Posts: 5,523 ✭✭✭ApeXaviour


    Cheers much appreciated. On the higher loans would they be chargin steeper interest rates? Would they give it to a student who couldn't show they're earning a regular wage?


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    #4
    johnnyrotten
    Registered Users Posts: 3,593 ✭✭✭johnnyrotten


    The rates are the same no matter what the loan amount is. AFAIK they base the ability to repay on the regularity of your savings etc


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