Our loan can finance the project while REIL will handle the retrofit works and the grant application.
Loans are at a low variable rate of just 6.95% (7.12% APR*) for loans above €20,000. Standard variable rate for loans below €20,000 is 8.95% (9.33% APR*).
For example €20,000 borrowed over 5 years would have monthly repayments of €395.55. Total cost of credit would be €3,733.14 at an Annual Percentage Rate (APR*) of 7.12%. €10,000 borrowed over 5 years would have monthly repayments of €207.34. Total cost of credit would be €2,440.46 at an APR* of 9.33% All information and rates quoted correct at 01.12.2020
*APR stands for Annual Percentage Rate.
When providing credit under this scheme, participating credit unions are regulated by the Central Bank of Ireland.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
Warning: The cost of your monthly repayment may increase.