Make Christmas Merrier with EKCU’s Christmas Save and Borrow Loan
At East Kilbride Credit Union (EKCU), we understand that the holiday season can be an expensive time, and planning ahead is key to keeping the festive cheer without financial stress. That’s why we introduced our Christmas Save and Borrow loan, a structured way to save towards Christmas and access an affordable loan to make your holiday season truly memorable.
Our Christmas Save and Borrow loan is designed to help our members with their festive expenses while encouraging a healthy savings habit. By saving a set amount monthly from spring through to autumn, members can unlock access to a £1,000 loan in time for the holidays – all with manageable repayments over the year.
How the Christmas Save and Borrow Loan Works
- Saving Towards Your Christmas Goal: Members could choose to save £40 per month from April to November or £55 per month from June to November. Once your November payment clears, you’ll be eligible to apply for a £1,000 loan. This approach not only prepares you for the season but also helps establish a savings routine that can benefit you long-term.
- Loan Details: After meeting the savings goal, members can access a loan of £1,000, repaid over 12 months at a competitive 12.7% APR. This way, your monthly repayments stay affordable, letting you enjoy the holidays without carrying overwhelming debt into the new year.
- Collateral and Flexibility: The money saved in your Christmas Account serves as collateral, meaning it’s there to support your loan. It also makes it easy for you to reapply for the Christmas Save and Borrow loan in the following year if needed, providing a recurring financial cushion for the holiday season.
- Separate from Other Loans: The Christmas Save and Borrow loan operates independently of any other loans on your EKCU account, giving you the flexibility to manage different financial needs without them overlapping.
- Affordability Checks: As always, EKCU prioritises your financial wellbeing. Standard lending terms and conditions apply, and we’ll carry out an affordability check to ensure the loan is right for you and won’t put undue strain on your finances.
Plan Ahead for a Financially Confident Christmas
Our Christmas Save and Borrow loan is a smart, structured way to spread the cost of the holidays while reinforcing good saving habits. By planning ahead, you can enjoy the season with less financial worry and focus on what matters most – celebrating with loved ones and making lasting memories.
Ready to start saving for next year? Or interested in applying for our Christmas loan? Contact us today, and let EKCU help you plan for a joyful, budget-friendly festive season.
From all of us at East Kilbride Credit Union, we wish you a warm and wonderful Christmas!
