Use Your Money to Qualify for a Great Loan Rate!
Borrow against money you have on deposit in your Savings, Money Market, or Certificate accounts for a great loan rate! If your deposits are greater than the amount you wish to borrow, your loan rate will be equal to 3.0% above the deposit rate on your account. Example #1
You would like to borrow $3,000. You qualify for a personal loan with a rate of 9.75% APR*. You also have more than $3,000 in your Money Market Gold account. The current dividend rate for your Money Market Gold account is 1.19% which means you would qualify for a Share Secured loan rate of 4.19%. You could lower your monthly payment and the total cost of your loan with a share secured loan.
|
| Interest
Rate
| Term
| Monthly
Payment
| Total
Cost
| Total
Savings
|
| Personal Loan
| 9.75%
| 36
| $100.48
| $3,617.28
| --
|
| Share Secured
| 4.19%
| 36
| $92.66
| $3,335.76
| $281.52
|
Example #2
You would like to borrow $15,000 for 48 months. You qualify for an auto loan rate of 5.75% APR*. You also have more than $15,000 in a Money Market Gold account. The current dividend rate for your Money Market Gold account is 1.34% which means you would qualify for a Share Secured loan rate of 4.34%. You could lower your monthly payment and the total cost of your loan with a share secured loan.
|
| Interest
Rate
| Term
| Monthly
Payment
| Total
Cost
| Total
Savings
|
| Auto Loan
| 5.75%
| 48
| $370.27
| $17,772.96
| --
|
| Share Secured
| 4.34%
| 48
| $360.35
| $17,296.80
| $476.16
|
*Annual Percentage Rate. Rates indicated are for example only and are subject to change. Secured loans feature a variable rate and will”adjust if the associated deposit account rate changes.
