Skip to main content
Impacts of Global IT Outage Our Members Might Encounter — Learn More

Unsecured Signature Loan

The smart way to borrow money for a large-ticket item.

Apply for a Loan

Or call 1-800-621-2105

Unsecured Signature Loan Interest Rate  APR  Monthly Payment Loan Term (Months)
Unsecured Signature Loan 9.84% 9.84% $252.00 48

Rates effective as of July 1, 2024, 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. Subject to credit approval.

Unsecured Signature Loan

You don’t need collateral to borrow up to $25,000


  • Not tied to collateral
  • Borrow up to $25,000
  • Borrow $4,000 for less than $100/month1
  • Fixed payment each month instead of revolving line like a credit card
  • No prepayment penalties
  • Get cash in your account in as little as one business day after your loan is approved

Apply Now


  • You want a convenient way to purchase a large-ticket item you can’t buy with a credit card
  • You want to consolidate loans, take a dream vacation, 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

What is the difference between an Unsecured and Secured Loan?

A woman roller painting a wall

The main difference is collateral: an unsecured loan does not require collateral, while a secured loan does. That means you’ll pay higher interest, but the loan might be more accessible to you. In other words, some of the key differences are:

Unsecured Loan

  • Not tied to collateral
  • Quick process for lower lending amounts
  • Typically has shorter terms

Examples of Elements unsecured loans:

Secured Loan

  • Connected to a piece of collateral
  • The lender can take possession of the collateral if you do not repay the loan as agreed
  • Typically has lower interest rates
  • Can be easier to get if you need to rebuild credit

Examples of Elements secured loans:

Elements Financial offers both unsecured and secured loans to our members. Depending on your situation, one loan type or the other may be right for you. As always, your support team at Elements is ready to help you find the product that is best for you — just give us a call at 1-800-621-2105.

Can I really use it on anything I want?

A couple buying a new car

Yes, you really can! You can use your Elements Unsecured Loan to finance major purchases, such as:

  • That big vacation
  • Loan consolidation
  • Paying off your credit cards
  • Unexpected emergencies
  • Home repairs or improvements
  • Medical bills
  • A new car
  • A second home
  • It's up to you!

Get Started

How do I access the funds?

A woman on the phone using her laptop

Easily manage your loan activity with Online Banking and the Elements Mobile App. You can access funds in as little as one business day after your loan is finalized. The funds will be available in the Elements account of your choice or sent via check if you prefer.

How does an Unsecured Signature Loan compare to other choices for major purchases?

There are benefits and trade-offs to all loans, especially when it comes to paying for major expenses. Compare different types of loan products in the chart below to determine which is best for your needs. As always, your support team at Elements is ready to help you find the product that is best for you — just give us a call at 1-317-542-5055.

  Personal Unsecured Signature Loan Certificate Loan Home Equity Line of Credit Platinum Visa Credit Card
What It Is

Borrow money without using collateral

Loan for a set amount

Borrow funds using your Elements Certificate as collateral

Loan for a set amount

Borrow funds using the equity in your home

Revolving credit line for the 10-year draw—use, repay, repeat

Borrow money without using collateral

Key Benefits

Fixed monthly payments

Lower interest rate than many conventional loans

Lowest interest rate

$200 Cash Bonus2


4-year fixed: 9.84%

2% above your certificate's earning rate

Intro APR for 6 months: 5.99%3

Variable APR after 6-month intro period: As low as 8.50%

Intro APR for 6 months: 0%4

Variable APR after 6-month intro period: 14.24%

A Good Option for a Major or Unexpected Purchase If You

Don't own your home

Want predictable monthly payments that stay the same

Own an Elements Certificate

Want to establish credit

Want predictable monthly payments that stay the same

Own your home

Want the flexibility of using funds whenever you need them

Want a lower payment

Don't own your home

Have the means to pay off your balance right away

Can Use It For

Consolidating loans

Paying off credit cards


Anything! Purchases such as:

- Unexpected emergencies
- Home improvements
- College
- That big vacation
- A new car
- A second home
- Debt Consolidation


Best for smaller, everyday purchases

No Prepayment Penalties
No Annual Fee
Available Amounts

Borrow up to $25,000, based on credit rating

Up to the full amount of your certificate

Whatever your available equity is in your home

Borrow up to $25,000 based on credit rating

What are the fees?

A couple kayaking through the ocean

There are no prepayment penalties or an annual fee associated with an Unsecured Signature Loan.

Does Elements Financial offer debt consolidation loans?

A father and daughter baking cookies

We do offer consolidation loans to consolidate bills and pay off other debts. An Unsecured Signature Loan (see information on this page) can be used for that purpose. Other options available to most members include other Personal Loans, Home Equity Loans, or even a first mortgage refinance with a debt consolidation option.

Why should I go to Elements for my loan?

A woman paying for drinks with her phone

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. We come to your workplace to answer questions and can provide you with a dedicated Mortgage Loan Originator5 to guide you through the entire mortgage process.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 3% of credit unions nationally6. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

Get Started

How do I apply?

Screenshot of Elements online application

3 Easy Steps to Apply

  1. Apply online - You can apply online in as little as 10 minutes! Submit your application anytime or call 1-800-621-2105 to get started. Have ready your government-issued ID (driver’s license, state ID, or passport) and your social security number.
  2. Take our call - We'll contact you within one business day after you submit your application to go over what documentation we'll need and to answer your questions.
  3. That’s it! - We'll contact you with a decision within 10 business days. Once your loan is approved and finalized, you can get cash in your account in as little as one business day.

Apply Now

What Will My Loan Payments Be?

Unsecured Signature Loan Calculator


  1. 1 Monthly payment based on $4,000 Unsecured Signature Loan at 9.84% fixed Annual Percentage Rate (APR) for 48 months with 0.25% reduction for automated payments from an Elements checking account. Rate will vary based on credit score. Subject to credit approval. Not all applicants will qualify for the lowest rate. Elements Financial reserves the right to modify or end the offer at any time. Additional conditions may apply.
  2. 2 Credit Card Related $200 Cash Bonus Value Offer — requiring at least 10 card purchase transactions totaling at least net $1,000 within 90 days of card approval — will be fulfilled as a one-time $200 statement credit. Statement credit will not reduce your monthly payment. If the account is closed within six months, we reserve the right to add the amount of the statement credit back to your account balance at that time. Secured Credit Card excluded. Existing or previous Elements credit cardholders not eligible.  /  Offer subject to credit approval and may be taxable. Elements reserves the right to amend or discontinue offers at any time. Additional terms and conditions may apply. Please allow 4-6 weeks after qualifications are met for receipt of a statement credit. Product offers cannot be combined with other promotional offers for the same product. One offer per household.
  3. 3 Rates are based on an evaluation of credit history, combined loan-to-value ratio, loan term, and occupancy, so your rate may differ. Not all applicants will qualify for the displayed lowest rates. The term is 25 years, consisting of a 10-year draw period with interest-only payments followed by a 15-year repayment period with principal plus interest, which may increase your monthly payments. The Introductory Annual Percentage Rate (APR) of 5.99% is for new Home Equity Lines of Credit only and is for the first six months. HELOC modifications, renewals and increases that utilize the same property are not considered new and are not eligible for the introductory rate. To receive the Introductory rate, a draw of at least $10,000 must be made within 30 days of account opening. After the introductory rate expires, balances will be charged at the variable APR based upon the Prime rate as published in The Wall Street Journal plus a margin. The APR will never be lower than 3.75% or higher than 18%. The stated rate, correct as of July 1, 2024, applies to borrowers with credit scores of 730 or greater, CLTV 80% or less, and owner-occupied single-family residences. Elements Financial will conditionally waive the following Closing Costs associated with your home equity line of credit: flood certification, title search or title abstract, credit report, recording fees, and a simple valuation. You may be required to pay other costs such as taxes, and when required, appraisal fees. However, if you close your home equity line of credit within 36 months after it is opened, you will be required to pay an Early Closure Fee in the amount of the Closing Costs originally waived. These costs vary by state and property type. Elements Financial reserves the right to modify or end this offer at any time. Additional terms and conditions may apply. Subject to credit approval. Elements Financial Membership Required.
  4. 4 Platinum Visa Introductory APR (Annual Percentage Rate) good for six months. Elements Financial loans are not eligible for payoff with introductory balance transfer offers. Subject to credit approval. Additional limitations, terms, and conditions apply. After introductory period your Standard variable APR for Purchases and Balance Transfers will be 14.24% for Platinum Visa. Rate effective July 1, 2024, and will vary with the market based on the Prime Rate as published in The Wall Street Journal. Elements reserves the right to amend or discontinue offers at any time. Terms & Conditions.
  5. 5 Nationwide Mortgage Licensing System Registrants: Elements Financial FCU 410639, Shawn Adams 1969445, Charles Akinbola 1811812, Barbara L Allen 609733, Rick Anderson 169934, Nick Bates 2030112, Lindsey Badanek 724103, Cynthia Bell 427359, Nyla Bivens 1128100, Jamie Bonner 435395, Laura Bordenkecher 1590841, April Bratton 1169913, Miesha Brooks 1916521, Dawn Michelle Bruce 899516, Julie Bowering 443400, John Bugbee 581674, Melissa Bullock 2122657, Tracee Buckrop 609727, Karla Chevrie 404630, Eliza Claborn 1826115, Christine Clark 609734, Shane Clark 2253719, Brooklynn Coop 2416469, Kaylee Cooper-Sweeting 2552218, Mary Ann Deckard 1259646, Ashlie M Dew 539208, Curtis Neal Dodd 200259, Ron E Ellis Jr 1207645, Barbara Fey 489638, Kara Michelle Fischer 1469113, Tami Renee Forsythe 609730, Lenore Gallagher 975065, Sherry Gaw 988244, Emilee Goode 1776621, Jody Gray 2320767, Robert Goodwin 975067, Quentin Girten 1919653, Courtney Guth 1623852, Abigail Hall 1469114, Mariah Hestand 1809685, Dial Holliday 1436039, Jennifer Hooker 1807696, Theresa Iaria 1128103, Chris Jones 1484986, Kasey Jones 1942020, Christopher Kerr 143199, Andee Kettlebar 443776, Jill Kidwell 609731, Brooklynn King 2311546, Michele King 1759144, Sara Keedy 1512646, Sean Kiely 425511, Brittnie Kreuzman 2433042, Tara Nicole Lambert 883082, Teresa Ledford 444283, Cindy Leisure 1080329, Rebecca Littell 996455, Tyler Lonergan 2066084, Blake Luker 2007589, Kristy Mars 609725, Beverly Marshall 444941, Elizabeth McGovern 2313054, Alexander J Menestrina 1190426, Beth Moberg 473454, Justin D Montour 1198316, Brooke Moss 1824059, Terri Mossbrucker 1385461, Kristina Mowery 916118, Amber D Murphy 1082684, Mallory Neill 1750269, Constance Nelson 975071, Micha Noble 1950136, Grace Nolan 1840818, Regina Norman 1080327, Stacy Oswald 1380912, Clayton F Patterson 424532, Shaneka A Pedersen 426201, Meghan Pedigo 1601304, Shari Peek 1623439, Steve Perius 610700, Janene Petree 1529353, Kyle Thomas Plumlee 1930758, Noah Pumphrey 2313162, Kim Purkhiser 1313210, Tania Query 608383, Rebecca Rice 1007612, Miranda Grace Renee Rizzo 1198315, Janai S Roberts 252636, Tim Sallee 1192774, Susan Roberts 975068, Darlene Rogers 2266067, Carol Biale-Schroeder 1863399, Ryan Sebree 1866273, Ron Senci 1068152, Jessica Siegman-Bradford 1454706, Brad Smith 906855, Amy Lynn Stokes 1387213, Paulette Stull 1487007, Ann Sukup 2511201, Brent Tedford 1892880, Bradley Thompson 609732, Rhonda Weaver 2213627, Samantha White 1849420
  6. 6 Based on asset size as of 12/31/2022.