Covered by Savings Loan

Lisduggan Credit Union’s Covered by Savings Loan allows you to borrow up to the value of your savings at a discounted interest rate whilst still earning interest on your savings.

We appreciate that it can take a long time to build up savings, so when it comes to making a big purchase you might be reluctant to use these savings whilst leaving no funds available to meet any future unexpected expenses. Our Covered by Savings Loan is a cost-effective way to access funds while leaving your savings untouched and available for future needs.

Rate: 7% (7.22% APR*)



  • Our lowest interest rate on offer
  • Most people find it easier to repay a loan than replace savings
  • On the spot approval – Current Photo I.D. and Proof of Address must be provided
  • Continue to earn any future interest in your savings account
  • Our Covered by Shares Loan is not restricted to any particular loan purpose
  • Our Covered by Shares Loan means you won’t dip into your savings because you cannot withdraw the secured amount until your loan is fully repaid
  • Convenient payment options available – pay by standing order, debit card or at our offices


*7.22% APR – refers to all new covered by shares loans issued from 1st June 2021.

A rate of 6% (6.16% APR) applies to all existing covered by shares loans issued before 1st June 2021.

Where an existing covered by shares loan is topped-up from 1st June 2021, the rate of 7% (7.22% APR) will apply to the full balance. Alternatively, the existing rate of 6.16% APR can be retained on the pre-existing loan balance, with the new application being granted as a separate loan.

Loan Calculator

Applying for a Covered by Shares Loan? – Try our loan calculator and start your application today!