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Can I take money from my savings when I have an existing loan?

  • 20-11-2018 8:04pm
    #1
    [Deleted User]
    Posts: 0 ✭


    I have a credit union loan of €2,600 and I’ve paid about just over €500 of that back over the last 10 months or so.

    I also have savings of €2000.

    Can I take money from my credit union savings if I have this existing loan, taking into account the repayments I’ve made so far? Or does it need to remain as collateral? I am a little confused about how it works.


Comments

  • #2
    Bojill
    Registered Users, Registered Users 2 Posts: 349 ✭✭Bojill


    sparklinglens wrote: »
    I have a credit union loan of €2,600 and I’ve paid about just over €500 of that back over the last 10 months or so.

    I also have savings of €2000.

    Can I take money from my credit union savings if I have this existing loan, taking into account the repayments I’ve made so far? Or does it need to remain as collateral? I am a little confused about how it works.

    Depends on your credit union, give them a call.
    They're all different.


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