Looking for a loan?
Members can borrow from us with interest rates varying from as little as 6.3% APR to 17.9% APR. The loan rate we advertise is the loan rate we offer our members if the application is successful, and that’s all part of the credit union difference. Other financial institutions only have to offer the advertised rate to 51 % percent of applicants.
With the added benefit that both your savings and loans will be protected by our Life Savings and Loan Protection Cover(terms and conditions apply). So, whatever you might need a loan for, we are here to help.
Tail O’ The Bank Credit Unions loan interest is calculated on are reducing balance, so you are charged interest on what you owe and not what you borrow, and that’s part of the credit union difference. Tail O’ The Bank also offer flexible terms so you can reduce the terms with no administration fees.
If you are struggling to make your payments or your circumstances have changed, please contact us as soon as possible and we will do everything within our power to readjust your payments to suit your financial needs, it’s all part of our personal service and the credit union difference. We aim to process loans within five working days. Please provide a mobile number on your loan application to enable us to text you your decision.
What is APR?
APR stands for Annual Percentage Rate and is the mathematical method of expressing repayment costs; it should reflect all the costs involved. Bank interest rates can change and alter the APR for many loan providers. The credit union difference, our APR is fixed.
How Much Can I Borrow?
Tail O’ The Bank Credit Union has a policy on lending, designed to meet the needs of individual members and is based on ability to repay. For full details on our lending policies, please contact a member of the team.