Save on a winter get-away
Posted on Dec 19, 2023Are you hoping to enjoy a winter get-away? Perhaps you’re planning to swap the cold, wet weather for a warm beach, or maybe, you’re embracing the cold for the ski slopes or heading off in search of the Northern Lights? Whatever your plans are this Winter, make sure you don’t pay over the odds for your trip!
Our loans just got better, with options for everyone, so let’s take a look at how much you can save by using a Retail CU Loan compared to paying through typical credit card payment.
Let’s compare the cost of this 7-day winter break in Norway for 2 people costing £2,378 in total.
APR comparison
Retail CU Personal Loan – 21.9% APR fixed
Retail CU Advantage Loan – 10.9% APR variable
Retail CU Swap & Save Loan – 16.9% APR fixed
Sainsbury’s Bank Everyday Credit Card – 29.4% APR variable
Above rates taken from Uswitch 2023
No savings? No problem!
No savings with Voyager Alliance? No problem! You could borrow £2,400 for your winter break at a competitive interest rate!
A £2,400 Retail CU Personal Loan, repaid over 18 months will cost £155.43 a month, total amount repaid £2,797.77, total interest £397.77 at just 21.9% APR.
Now let’s compare this to a typical credit card at 29.4% APR. Using Uswitch’s Credit Card Calculator and and keeping monthly repayments at £155.43 a month (the same as Retail CU’s Personal Loan), the total amount to repay is £2,957, and would take an extra 2 months to repay!
Advantage Loan
If you have £480 in savings with Retail CU, you could borrow £2,400 at just 10.9%!
A £2,400 Retail CU Advantage Loan, repaid over 18 months will cost £144.58 a month, total amount repaid £2,602.43, total interest just £202.43, at just 10.9% APR.
Now let’s compare this to Sainsbury’s Everyday Credit Card at 29.4% variable.
Using Uswitch’s Credit Card Calculator and keeping monthly repayments at £144.58 a month (the same as Retail CU’s Advantage Loan), total amount to repay is £3,012 and this would take you 21 months to repay!
By choosing Retail CU’s Advantage Loan, you could save yourself over £400 in interest AND you’ll have cleared your loan 3 months quicker!
Swap & Save Loan
Did you opt to put your once in a lifetime trip on your credit card? Are you paying more than you need to?
At just 16.9% fixed APR our Swap & Save Loan is a great alternative to your typical credit card payments!
By consolidating credit cards, overdrafts, personal loans and other borrowing into one manageable repayment with a lower rate of interest, our Swap and Save Loan can help you tidy up your finances and save you money!
Learn more about our Swap & Save Loan here
Don’t pay more than you need to when exploring the world! Choose a Retail CU loan to keep costs down!