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Annual Expenses Loan

Simplify Your Yearly Financial Planning.

Annual Expenses Loan Details

Navigate through your annual financial obligations with ease. This specialized short-term loan is tailored to cover a range of essential expenses, including insurances, education costs, medical bills, family vacations, house repairs, land and building taxes, and water rates. With Eastern Credit Union, managing your yearly financial responsibilities becomes simpler and more stress-free.

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Flexible Loan Duration

Loan term of up to 11 months, aligning with your financial timeline.
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Member Share Requirement

Depends on your relationship within the credit union, credit history, and the purpose of the loan.
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Competitive Interest Rate

Enjoy an attractive monthly rate on the reducing balance, ensuring affordability.
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Documentation-based Lending

Transparency and clarity with documentation to support expenses.
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Direct Payment to Suppliers

Loan proceeds held in your account and disbursed directly to suppliers, ensuring timely payments.
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Specific Use

Ideal for recurring annual expenses, tailored to your yearly financial needs.
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Annual Availability

Option to take the loan yearly, aiding in consistent financial planning.

Required Documents for Application

  • Share requirement details based on length of membership and relationship with Eastern Credit Union.
  • Current Job Letter.
  • Recent salary slip.
  • Evidence of Income/Expenditure (for Self-Employed individuals).
  • Bank Statements from the last 12 to 18 months (for Self-Employed individuals).
  • Supporting Documents as needed (e.g. renewal notices from Insurance companies for vehicle and house insurance, statement from school for school fees, notice from Insurance company for annuities and life insurance.).
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Apply for Your Annual Expenses Loan

Ready to ease your financial burden for the year? Applying for an Annual Expenses Loan is straightforward. Just fill out the form with your details and select your preferred branch. We’re here to assist you every step of the way.

Explore Further: Uncover More of Our Personal Loans

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Utilize our Quick Loan Calculator to estimate your monthly payments and find the perfect fit for your budget.

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