Energy, food and fuel prices have risen sharply in recent months, with many finding their bills a “heavy burden” according to the Financial Conduct authority. In particular heating your home over the winter months can be a real source of worry.
Ballymena Causeway Credit Union (BCCU) are keen to help with this and as such are pleased to be launching their Interest Free Oil Heating Loans for our members.
These will be available over the winter period (from October 2022 to 31st March 2023) with a maximum loan amount of £1000 for a maximum term of 6 months (please see below for further terms)**.
Charles Allen Credit Manager, explains how the Oil Heating Loan may be a helpful option to current or new members:
“We are pleased to be able to offer this loan as an interest free option with payback over 6 months. So it’s a very cost-effective option in which you only payback the amount that you borrow. Not only that, but our loans are typically approved in 2 days, so you can get oil ordered quickly.
"We are also happy to offer our loans to brand new members – so there is no requirement for you to have saved with us for a period of time before you can avail of the loan.”
Other benefits to the Oil Heating loan include the willingness of the credit union to work with each individual borrower to structure repayments in a way that will suit their individual circumstances. There are no hidden fees or administration charges. Borrowers are also free to repay the loan early, should they wish, without any penalties.
**For £500, 6 month interest free loan with 6 monthly repayments of £83.33, an interest Rate of 0%, a representative APR of 0%, the total amount payable by the member is £500. Information correct as at 25/10/2022.