Covered Loans
A covered loan is a flexible and empowering way to borrow money without touching your savings.
You can borrow any amount up to the value of your share account, and your savings will still be there for you when you’ve finished paying off the loan.
Apply for a covered loan today and start enjoying the benefits of having access to extra cash without having to dip into your savings.
Covered Loan Features
Loan Application Process
1. Become a Member
Once you are living or working within our common bond you are eligible to join us today and start borrowing.
2. Calculate your Loan
Estimate how much you could borrow and calculate your repayments: weekly, fortnightly or monthly using our online calculator.
3. Apply for Loan
Apply for your loan from the comfort of your home or in our office. Applying for a loan is easy and quick. Apply Now.
4. Sit back and relax!
The decisions are made quickly on loan applications, usually within 24 hours.
Covered Loan – 7% variable (7.22% typical APR)
Representative Example
A 3 year Covered Loan of €20,000 will have weekly repayments of €142, Interest 7% variable, (7.22% APR). If the APR does not vary during the term of the loan the total cost of credit is €2,200. The total amount payable is €22,200.
How to Apply?
Online
The fastest way to apply is on our Mobile App or via your Online Account.
Call Us
Call us during office hours on
01-8451400.
Call Back
Submit this form and we’ll call you back at a time that suits you.
Email Us
Send an email with your loan details to us at info@malahidecu.ie.
Visit Us
Call into our office on Main Street with all your required documentation.