Introducing the It Makes Sense Loan Offer

The It Makes Sense scheme is designed for people in Ireland receiving social welfare. The loan amount ranges from €100 to €2,000, making it ideal for small, essential needs.

This loan stands out due to its maximum interest rate of only 12% (12.68% APR), significantly cheaper than traditional moneylenders in the market. Repayment terms are flexible, from one month up to two years.

To qualify, you must be over 18 and currently receiving a social welfare payment. Repayments are done conveniently through the Household Budget Scheme or standing order/direct debit.

The scheme is administered by participating local credit unions across Ireland. The application process is straightforward and designed to give quick access to needed funds.

Whether you want to cover a pressing expense or consolidate debts, this loan provides a reasonable and safe alternative.

How to Apply: Step by Step

1. Make sure you are over 18 and currently in receipt of a social welfare payment in Ireland.

2. Visit your nearest participating credit union and ask about the It Makes Sense loan.

3. If you are not a member, join the credit union by providing proof of name, address, and PPS number.

4. Submit your application with two recent social welfare slips (if collecting at a post office) or two months’ bank statements (if paid into a bank or credit union account).

5. Wait for a decision, usually given within 24 hours of membership and application.

Pros of the It Makes Sense Loan

The It Makes Sense scheme offers a lifeline to those who might otherwise turn to high-cost lenders. The interest rate is capped at a reasonable level.

Approval is typically fast, ensuring you get access to funds when you need them most. Repayments are manageable and deducted directly.

Cons to Consider

The It Makes Sense loan is only available to people receiving social welfare, so it’s not an option for the wider public.

There’s also a cap: if you already use 25% of your social welfare payment on other deductions, you won’t be able to borrow through this scheme.

Our Verdict

The It Makes Sense loan offers a fair, affordable alternative for those in financial need. If you qualify, it’s one of the most responsible borrowing choices available.

However, it is not suitable for everyone, so carefully check your eligibility before applying.