• Fast approval
  • Local service
  • Great rates


Savings Secured Loan

  • 5.5% (5.6% APR*)
  • Convenient payments
  • Friendly local service

Make your savings work for you

A savings secured loan is a loan where members can borrow 90% of current savings as a loan.

The more you have in savings, the more you can borrow against them.

  • 5.5% (5.6% APR*)
  • Borrow up to 90% of current savings balance
  • Maximum term of 10 years
  • Convenient payment options
  • Friendly local service

Why a savings secured loan is better...

  • Most people find it easier to repay a loan than replace savings.
  • Fast approval for savings secured loans.
  • Enjoy even lower rates than our product-specific loan offers.
  • Can be used for just about any purpose.
  • It guarantees you won't spend your savings, as you may not withdraw the pledged amount until your loan is repaid in full.
  • Convenient payment options on your loan.
  • The loan term can be up to 10 years.
  • Friendly Local Service.
  • Benefit from Free Loan Protection Insurance. (T’s & C’s apply.)
  • You can apply for and draw down your loan online and in branch.
  • No documentation or arrangement fees.
  • You can top up your loan if you need more funds (subject to approval).
  • Competitive Loan Rate of 5.5%. (5.6% APR)
  • Support your credit union by borrowing locally.

Further Information:

Loan Repayment Table




Number of


Cost of Loan

Total Loan

€1,000 5.6% 1 Year 52 €19.78 €28.19 €1,028.19
€2,000 5.6% 2 Years 104 €20.32 €112.73 €2,112.73
€3,000 5.6% 2 Years 104 €30.48 €169.09 €3,169.09
€5,000 5.6% 3 Years 156 €34.78 €425.24 €5,425.24
€7,000 5.6% 5 Years 260 €30.80 €1,006.83 €8,006.83
€10,000 5.6% 5 Years 260 €44.00 €1,438.32 €11,438.32
€15,000 5.6% 5 Years 260 €66.00 €2,157.49 €17,157.49
€20,000 5.6% 8 Years 416 €59.42 €4,715.27 €24,715.27


Typical APR Variable Savings Secured Loan Rate of 5.5% (5.6% APR). Lending terms and conditions apply. Loans are subject to approval. Table for illustration purposes only and does not constitute a contract. Figures correct as at March 2021.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your ability to access credit the future

Documentation Required

Completed application form

Simply call to any of our branches and our staff will be happy to assist you.

Proof of Identity

e.g. passport, driver’s license

Proof of Current Address (issued within the last 6 months)

e.g bank statements, utility bill, social welfare letter, government document etc

Proof of Income

e.g 3 most recent pay slips or social welfare payment receipts

For Self Employed Members:

2 most recent years Notice of Assessment and accounts, Tax Clearance Certificate, completed Form 11.

Current Bank Statements

may be required (last 3 months)

Credit Card Statements

(last 3 months)

Other information deemed necessary by the credit union


Savings Secured Loan Terms & Conditions

  • Maximum term is 8 years.
  • You can borrow up to 90% of current savings balance.
  • You cannot withdraw savings that are pledged against the loan.
  • We may seek your permission to undertake a credit bureau check with your loan application. 


Download a PDF Information Leaflet

Click the icon below to download a PDF with further information.

Click to download an information leaflet

How much will your loan cost?

At Killarney Credit Union we are proud to offer some of the best rates available for a wide range of loans. Here you can use the handy loan calculator to quickly get an idea of the cost of a loan.

Simply enter the amount you wish to borrow (for example '€5,000') then choose the type of loan you want and select how long you wish to take the loan for.

Information is correct as at March 2021.

Please Complete:

Calculated Loan Details:

* Calculator for estimation purpose only and does not constitute a contract. Please see individual loan pages for more details.




From Killarney Credit Union


Fast approaval

Great rates

Local service

Flexible repayments