It Makes Sense Loan
It Makes Sense Loan
When life throws you a curve ball and you need a loan in a hurry.- A real choice
- Puts you in control
- Your local credit union
There are times in life when you need to borrow.
Now, there is a real choice. An option that puts you back in control. Your local credit union. The IT MAKES SENSE loan aimed at people in receipt of social welfare. Say goodbye to expensive loans which can cost up to 188% APR and say hello to a lower rate of 10.5% APR.
Loan Calculator
Try out our quick and easy loan calculator below
Maximum Loan Term :
7.8%
7.8%
7.8%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. Killarney 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.
What is the 'It Makes Sense Loan'?
The scheme is open to anyone to apply who is over 18 years of age, who is in receipt of social welfare and who qualifies for deductions to be made through the Household Budget Scheme. The Household Budget Scheme is run via An Post. A borrower must be willing to sign up to and use the Household Budget Scheme to enable loan repayments to be made.
Loans can be granted quickly, typically within the same visit, but within a maximum of 24 working hours of making the loan application. The loan can be for any purpose including to repay an outstanding debt. The minimum loan amount is €100 and the maximum amount which can be borrowed is €2,000.
Loan repayments for the IT MAKES SENSE loan are paid via deductions from the borrower’s social welfare via the Household Budget Scheme. The maximum deduction allowed under the Household Budget Scheme is 25% of total applicable social welfare payments.The minimum loan period is one month and the maximum period is 2 years.
To apply, simply bring two recent social welfare slips (within the previous four weeks) to your local participating credit union and you can apply on the spot.
Key benefits:
- More money in your pocket (much cheaper than borrowing from a moneylender)
- Straight forward process
- Plan your financial future as a credit union member.
Ready to apply?
Great! Applying for a loan couldn’t be easier with our online application process. Alternatively, contact us directly to talk about your application with a member of our friendly team. Even if you are not already a member, we will be happy to discuss your needs with you and look at ways to help. We look forward to hearing from you!
Contact UsWhy choose a loan from Killarney Credit Union?
We specialise in providing a safe place for savings and loans in our community. If you haven't already, why not join our 37,000 strong members and enjoy many benefits including great rates, flexible loans and of course, local friendly service.
- Quick decision on loan applications
- Repayment terms tailored to meet your needs.
- Friendly Local Service.
- No penalties for repaying your loan early.
- No hidden fees, transaction charges, or set up fees.
- As your loan decreases so does your interest repayments.
- 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.
Everything you need to know
Further Information
How easy is it to join the credit union?
To join the credit union here
To be eligible to apply for an IT MAKES SENSE Loan you need:
To be in receipt of social welfare and signed up / or willing to sign up to the Household Budget Scheme
To apply for an IT MAKES SENSE Loan you will need to provide:
Two social welfare slips from the previous 4 weeks
We have a helpful It Makes Sense Loan Information Leaflet available to download
Download our Loan Services Guide - your one-stop guide with information about the loans we offer including repayments, options and what you need to apply.
Become a member today!
Our Loans are open to all members of Killarney Credit Union. If you're not a member of the Credit Union yet, don't worry, our application process is simple and, once approved you can take advantage of the many benefits and services we provide.
