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Topping up my credit union loan.. again ?

  • 17-04-2016 4:59pm
    #1
    ak4
    Registered Users Posts: 220 ✭✭


    I have a 4000 car euro loan with my credit union which I pay 50 into each week. 40 euro to the loan 10 to the savings.

    A few months ago I got a top up of 500 euro. I currently have 1270 left of my total loan with 420 in savings.

    I was looking to take out about 1000, does anyone know is there a period you have to wait between one top up and applying for another ?


Comments

  • #2
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    ak4 wrote: »
    I have a 4000 car euro loan with my credit union which I pay 50 into each week. 40 euro to the loan 10 to the savings.

    A few months ago I got a top up of 500 euro. I currently have 1270 left of my total loan with 420 in savings.

    I was looking to take out about 1000, does anyone know is there a period you have to wait between one top up and applying for another ?

    Rules will vary from CU to CU. You would need to check with yours.


  • #3
    ak4
    Registered Users Posts: 220 ✭✭ak4


    BuffyBot wrote: »
    Rules will vary from CU to CU. You would need to check with yours.

    Anyone had experience with this ?


  • #4
    coylemj
    Registered Users, Registered Users 2 Posts: 25,476 ✭✭✭✭coylemj


    ak4 wrote: »
    Anyone had experience with this ?

    No two CUs are the same, they all have their own rules and policies.


  • #5
    Spocker
    Moderators Posts: 6,864 ✭✭✭Spocker


    Some Credit Unions have limits on how many top-up loans you can take out in a twelve month period. If your repayment history is good, you may well get the additional top-up, but you can expect to be asked to increase the payments.

    As other posters have said, every CU has it's own policies on top-ups, you'd need to call in and ask in yours


  • #6
    braggart
    Registered Users Posts: 2 ✭braggart


    I have gotten top ups of more than 1000 at a time within a 12 month period and it was a straight forward process.

    But it does depend on the cu as already mentioned.


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