# Interest rebate



## SarahMc (6 May 2013)

What does this mean?
Local CU offering Savers Loan at 6% apr (no interest loan rebate) or regular loan, 12.6% apr (loan interest rebate of 20%).


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## STEINER (6 May 2013)

If you get a loan from a CU, you will be charged interest.  At the end of the year, a CU may  give some of the interest you paid back to you, ie an interest rebate.  This is approved at the AGM.


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## Elnino (7 May 2013)

The 6% rate is probably for secured loans where you borrow less than your shares and your shares are frozen as collateral. 

Also the interest rebate is subject to annual approval by the Central Bank so it is not guaranteed.


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