If you have a project or expense in mind that exceeds the scope of our more standard loan offerings, our Special Rate Loan Over £20K might be the option for you. Our special rate loan is available for any project costing £20,000 or more at our 8% annual flat rate.

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Loan Calculator

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APR 11.00%

APR 11.00%

Repayment Summary*:

Weekly

Total

Interest

Fortnightly

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Interest

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Total

Interest

∗Terms & Conditions Apply. All figures given on this website are for your general information only, and give a rough guide to loan repayments. Any statements on this website do not purport to be authorative or legally binding. You are advised to check with our offices for up-to-date rates and offers.

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Loan Enquiry

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What We Require From You
1

Outgoings

  • Credit search
  • Minimum 1 month bank statements
2

Proof of Income

  • Employed - Last month payslip
  • Self-employed - Most recent set of accounts and latest tax returns OR notice of self-assessment
  • Social Welfare - Minimum 1 month bank statement
  • Retired - Proof of all pensions
3

Identification

  • Photo ID - Driver's License/Passport
  • Proof of Address - Utility Bill/Bank Statement dated within the last 3 months OR
  • Proof of Address - Government issued document dated within the last 12 months
Lending criteria

Maximum Term

  • The maximum term available for the Special Rate Loan Over £20K is 10 years. You are unable to top up a special rate loan until you have paid back 75% of the loan, or your loan balance is reduced to the level of your savings.

Proven Ability to Repay

  • As responsible lenders, we must ensure that we don’t lend to any member unless they have a proven ability to repay the loan and loan interest within the full duration of the agreed loan term.

Free Loan Protection Insurance*

  • NCU provides free loan protection insurance to loans less than £8,000, subject to terms and conditions. Loans over £8,000 may still be insured at no cost upon the completion of a health declaration.
How to apply

How To Apply

Existing members can apply for a loan by coming into the office, calling us on 028 30263840 or through their NCU online banking. Not an existing member? You can become a member via the button below.

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Please note: 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.

If you would like more information on applying for a loan with Newry Credit Union please contact us today.

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