Dumbarton Credit Union provides loans for its members. This loan is dependant on your ability to repay your loan. We require proof of your income e.g. 3 months payslips, bank statments or DWP benefit confirmation.
Any shares you hold with the credit union are held as security against your loan for the duration of the loan term thereby reducing the risk to the credit union.
Dumbarton Credit Union has a Credit Committee who supervise all loan applications ensuring that we are a responsible lender by checking income and expenditure and making sure the application forms are completed correctly. They also take into account your repayment history with the credit union which can result in a reduced offer or denial of application.
Dumbarton credit union offers loans from £50.00 to £15,000.00 all of which are covered by our free Loan Protection Insurance (subject to pre-existing conditions).
The interest rates are as follows:-
Up to £7,499.99 - 12.7% APR (1% per month on reducing balance)
£7,500.00 - £9,999.99 - 9.4% (0.75% per month on reducing balance)
£10,000.00 - £15,000.00 - 7.2% (0.58% per month on reducing balance)
For further information contact us now.