Interest-Free Loan for Heating Oil
In partnership with East Suffolk Council, we are able to offer 0% interest loans of up to £500 over 12 months, for a tank of heating oil. This product is only available to residents of Suffolk. You need to become a member of ESLSCU to apply for this 0% loan.
It is quick to join and apply for a membership account online. You just need to pay the Joining fee of £5 (£2 admin fee, £3 minimum share deposit) to open your account.
Please Note, we do charge 25p a week for an account with us, this is charged £1, 4weekly. This small charge is applied to all accounts and allows us to offer unlimited deposits and withdrawals to all members.
- Residents of Suffolk only
- 2 per Household
- No setup fees or additional charges
- Save for your next tank as you repay
- Repay weekly, 4-weekly or monthly
- Clear repayments
Will I be eligible?
Find out what you need to know before applying for a loan or membership.
Am I eligible to apply for a Heating Oil Loan?
We do have a few eligibility criteria:
~You must live in Suffolk
~You must be over 18
~If you have a County Court Judgement (CCJ) you must provide evidence you are addressing it
~It has been longer than 3 years since you were discharged from your bankruptcy or completed a DRO
~It has been longer than 2 years since you completed an Individual Voluntary Agreement (IVA) / or debt management plan.
Please Note: We are only able to lend two 0% Oil Loans per household.
How do I apply for a Suffolk Heating Oil Loan?
1. If you are not a member of ESLCU then you will need to complete an Online Joining Form, and pay your membership fee by PayPal, one-off instant transfer, or debit card by calling the office on 03336 000690, before applying for a loan.
2. Once you are a member, you can apply for a loan in the member’s area, just follow the instructions in the welcome email. We aim to have a decision for you within 3-4 working days. You can apply for a loan the same day you join our Credit Union.
Note: Failure to make scheduled loan repayments will lead to arrears action and may affect your credit history.
