Secured Loans
Borrow up to the value of your savings with a secured Loan from Altura Credit Union at an attractive rate of just 4.9% (5.01% APR).
This is one of out most popular loan types and is super convenient for those times when you need finance fast for everything life throws at you. Secured Loans are fully secured by your shares. The risk on these loans is very low, so this is why we introduced the special rate of 4.9% (5.01% APR). Many of our members work hard to build their savings, and do not wish to withdraw them. By maintaining the savings, the Life Savings Insurance accumulated over time are also intact. Loans are also insured (unless we advise you otherwise) which can be of great comfort in a difficult time.
We hold your Shares, up to the full outstanding value of the loan, as collateral on secured loans.
Warning: 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.
Loans are subject to approval. Terms and conditions apply. APR= Annual Percentage Rate
Save your savings! Borrow up to the amount in your share account at this low rate. The cost is minimal, and your savings remain intact.
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 any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Secured Loan
