The Cost of a Credit Union Loan

The Maximum interest rate charged by Credit Unions for Standard Loans is 1% per Month - 12.68% APR.

Fair Finance Loans are charged at 2% per month - 26.82% APR.

This loan payment calculator is for comparison purposes only. It will be a close approximation of actual loan repayments from a Credit Union. This is being provided for you to plan your next loan application. To use, enter values for the Loan Amount and Number of Months the Loan will be over. The Interest Rate has already been inserted for you, 12% - (12.68% APR) or 24% - (26.82%), then click the Calculate button. Clicking the Reset button will clear entered values.

 

STANDARD LOANS - 1% PER MONTH ON THE REDUCING BALANCE

Description - STANDARD LOAN Data Entry
Loan Amount
Loan Length in Months (36 Months Maximum)
Interest Rate
Monthly Payment Calculated
Enter only numeric values (no commas), using decimal points where needed.
Non-numeric values will cause errors.

©2007 MTBCU Ltd | Regulated by the Financial Services Authority - Reg No: 213643

FAIR FINANCE LOANS - 2% PER MONTH ON THE REDUCING BALANCE

Description - FAIR FINANCE LOAN Data Entry
Loan Amount
Loan Length in Months (36 Months Maximum)
Interest Rate
Monthly Payment Calculated
Enter only numeric values (no commas), using decimal points where needed.
Non-numeric values will cause errors.

©2007 MTBCU Ltd | Regulated by the Financial Services Authority - Reg No: 213643