Dividend and Loan Interest Rebate
A dividend of 0.05% on shares and a loan interest rebate of 15% was approved at the 2019 AGM for the year ending 30th September 2019. Both of these will be applied early next week.
What is a loan Interest Rebate?
A loan interest rebate is a way for St Raphael’s to reward members who have borrowed from us throughout the year. In simple terms, a rebate is a partial refund of the interest that a member paid on a loan.
Do I qualify for a Loan Interest Rebate?
This year’s loan interest rebate applies to members who paid interest on an Everyday Loan for the year ending 30 September 2019.
How much do I receive?
A loan interest rebate of 15% was announced for the year ending 30 September 2019. This effectively means that the interest rate on the Everyday Loan for 2019 was reduced from 8.25% to 7.01%. So, for example, if you paid €500 in interest during the last financial year, you’ll receive a refund of €75.
How do I claim my refund?
You don’t need to do anything. The rebate will automatically be lodged into your share account.
Once again we’d like to thank all of our members for their continued loyalty and support throughout the year and look forward to working with you again in 2020.
Posted: 12 December 2019