A simple, affordable loan designed to support you when you need it most.
Our Support Loan is ideal if you receive regular benefits and need quick access to a small amount of money. It’s straightforward, flexible, and built around what you can afford to repay.
- Borrow £500 or £1,000
- 12.68% APR (Variable)
- Repay over up to 12 months
- Quick and easy application process
- Based on what you can afford to repay
Who Can Apply?
You can apply for a Support Loan if you are a member of Ballinascreen Credit Union and you receive a benefit such as:
- Child Benefit
- Universal Credit (UC)
- PIP / DLA
Your benefit also needs paid directly into your Credit Union account as your form of repayment.
How It Works
- Apply online or in-branch
- We assess your ability to repay, not just your credit history
- If approved, funds are paid directly into your account
- Repayments are taken in a way that suits your income (benefit payment)
Flexible Top-Up Option
Once you’ve repaid 50% of your loan, you can apply for a top-up.
- No need to start from scratch
- Processed quickly through our system
- You’ll receive updates by email
Why Choose a Support Loan?
Choosing a Support Loan means you are getting a fair and transparent option with no hidden fees. Decisions are made locally by people who understand your circumstances, ensuring a more personal and supportive approach. The loan is designed to be affordable and manageable, with guidance available at every step to help you stay in control of your finances.
Apply Today
Getting started is easy. Apply online or call into your local branch and speak to a member of our team.
We’re here to help you manage your money with confidence.
Loan Calculator
PAYMENT SUMMARY
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for anyerros. Please note that this calculator only provides and indicative quote and actual repayments may vary.
| For the total loan of | Actual | Annual Percentage Rate (APR) |
|---|---|---|
| Unsecured Personal Loans | ||
| Max Amount: £10,000.00 Max Term: 5 Years | 12% | 12.70% |
| Max Amount: £10,001.00 – £20,000.00 Max Term: 10 Years | 8.9% | 9.29% |
| Max Amount: £20,000.00 – £40,000.00 (in excess of attached shares) Max Term: 10 Years | 8.4% | 8.69% |
| Unsecured Agri Loans | ||
| Max Amount: £1,000.00 – £50,000.00 (in excess of attached shares) Max Term: 10 Years | 8.65% | 9% |
| Secured Agri Loans | ||
| Max Amount: £10,000.00 – £100,000.00 (in excess of attached shares) Max Term: 20 Years | 4.8% | 4.9% |
| Secured Personal Loans | ||
| Max Amount: £25,000.00 – £150,000.00 (in excess of attached shares) Max Term: 25 Years* | 5.4% | 5.51% |
| Share Secured Loans | ||
| Max Amount: £85,000.00 Max Term: 25 Years* (Loan will be 100% secured against shares for the duration of the term) | 5.4% | 5.51% |
| Support Loans | ||
| Max Amount: £1,000 Max Term: 12 Months | 12% | 12.70% |
Requests for share withdrawals will be referred to the Credit Committee.
*Some members may not be eligible for a 25-year loan term depending on their age and health status as per Loan Protection Insurance requirements.
*Loan will be 100% secured against shares for the duration of the term.
EXISTING LOAN TERMS & RATES are not changing, the new limits and rates are for new loans and top-ups to existing loans only.
Terms & Conditions – Click on the link below
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