Tables of Example Loans

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Example loan repayment tables

Red Kite Credit Union
20 Market Street
Builth Wells
Powys
LD2 3EA

01982 551000
01597 824000

General enquiries:
click here

Use the link above to access a simple calculator which will give a close approximation to the interest payable on a loan and the regular instalments needed to repay it.

For particular cases in the table the table values are more accurate than the calculator which may differ by a few pence owing to the approximations made.

Rows in the tables can be added to give composite amounts.

The cost of loan in the tables shown below is the total interest charged over the repayment period assuming the repayment schedule is strictly adhered to. These tables may not apply to a loan for which repayments are by payroll deduction, see note below. For more information on payroll deduction, please click here.

Credit unions exist to serve their members so you can be sure of a fair deal.


Monthly Repayments

	Repayment over 1 year		Repayment over 2 years		Repayment over 3 years
Loan amount	Monthly repayment	Total cost of loan	Monthly repayment	Total cost of loan	Monthly repayment	Total cost of loan
£100	£8.88	£6.56	£4.71	£12.83	£3.32	£19.36
£200	£17.76	£13.12	£9.41	£25.70	£6.64	£38.72
£300	£26.64	£19.67	£14.11	£38.56	£9.95	£58.15
£500	£44.40	£32.79	£23.52	£64.25	£16.59	£86.87
£1,000	£88.80	£65.58	£47.03	£128.54	£33.17	£193.81
£2,000	£177.60	£131.16	£94.05	£257.10	£66.33	£387.70


Weekly Repayments

	Repayment over 1 year		Repayment over 2 years		Repayment over 3 years
Loan amount	Weekly repayment	Total cost of loan	Weekly repayment	Total cost of loan	Weekly repayment	Total cost of loan
£100	£2.05	£6.20	£1.09	£12.47	£0.77	£18.96
£200	£4.09	£12.43	£2.17	£25.70	£1.53	£38.34
£300	£6.13	£18.67	£3.25	£37.68	£2.30	£57.20
£500	£10.22	£31.10	£5.42	£62.75	£3.82	£95.75
£1,000	£20.43	£62.23	£10.83	£125.64	£7.64	£191.51
£2,000	£40.86	£124.47	£21.65	£251.41	£15.28	£383.01

Interest is actually charged at a rate equivalent to 1% per month on the outstanding balance at each repayment, computed daily. Total interest paid will vary if repayments are early or late or if the amount is less or more than the exact amount in the table. Flexibility is a part of our service.
This interest rate is legally quoted as an Annual Percentage Rate (APR) of 12.68%. The real cost of loans repaid regularly can be seen from the tables above.

Please note that the first loan to a member is normally repayable over one year. Please also note that a reduced interest rate may apply to a loan for which repayments will be made by payroll deduction. More information is given here.

You can download our Loan Guidelines here

How to save and borrow with Red Kite Credit Union

Compare with this

The Government-sponsored "Let's Talk Money" web site recently quoted the following statistics for a loan from a 'leading doorstep lender':

Loan £500
Total paid £1,100
Cost of loan £600
( = rip-off! )

A recent leaflet from a well-known lender proudly quotes an APR of over 270% with a loan of £300 costing over £240 in interest.

A credit union loan of £500 from Red Kite CU would cost just £31.10 in interest when repaid weekly over one year.

With spiralling interest rates on Credit Cards and Store Cards,
Credit Union loans are even better value

This page was last updated
23/04/2013

With spiralling interest rates on Credit Cards and Store Cards, Credit Union loans are even better value

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

With spiralling interest rates on Credit Cards and Store Cards,
Credit Union loans are even better value