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Personal Loans

Loan options to help you build credit, consolidate debt, or pay for large expenses.

Overview

  • Easy access to funds when you need them
  • Credit lines from $500 to $2,500
  • 6-12 month repayment term
  • Can be used as overdraft protection on your Elements checking account 

A Good Option If:

  • You need to cover unexpected expenses, like car or home repairs or medical bills
  • You want a revolving credit line that allows funds to be borrowed, repaid and borrowed again
  • Trade-off: Interest rate is generally higher than a loan secured with collateral
EZ Line of Credit Interest Rate  APR 
EZ Line of Credit 11.49% 11.49%

Rates effective as of November 1, 2017 and subject to change without notice. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates.

Overview

  • Not tied to collateral
  • Borrow up to $25,000
  • Fixed payment each month instead of revolving line like a credit card
  • No pre-penalty payments

A Good Option If:

  • You want a convenient way to purchase a large-ticket item you can’t buy with a credit card
  • You want to consolidate loans or pay off your credit cards
  • Trade-off: Interest rate is generally higher than a loan secured with collateral and borrower usually must have a high credit rating
Unsecured Signature Loan Interest Rate  APR 
Unsecured Signature Loan 9.24% 9.24%

Rates effective as of November 1, 2017 and subject to change without notice. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates.

Overview

  • A cash-secured loan that helps you establish a positive credit rating
  • Borrow as little as $500 and repay in 6-12 months
  • No credit qualification is required

A Good Option If:

  • You need to establish or re-establish a positive credit rating
  • You want to position yourself to be eligible for future loans with Elements
  • You want to build savings to use toward a Secured Visa® Credit Card
  • Trade-off: Not a good choice if you may not be able to make all payments on time
Credit Builder Loan Interest Rate  APR 
Credit Builder Loan 9.24% 9.24%

Rates effective as of November 1, 2017 and subject to change without notice. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates.

Overview

  • Uses your Elements Certificate as collateral
  • Borrow up to the full amount of your Elements certificate at 2% above your current savings rate
  • Lower interest rate than many other conventional loans
  • No fees or Certificate early withdrawal penalties

A Good Option If:

  • You already have an Elements Certificate
  • You want to establish credit, allowing for future credit opportunities
  • You prefer a fixed monthly payment
  • Trade-off: Certificate can not be redeemed until loan is paid off