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 have a PayPal account or valid debit card to make an initial deposit (minimum of £5).
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 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.
