Looking For a Way to Build Your Credit?
Bellco's Shared-Secure loan might be the perfect fit for you. So how does it work? A Shared-Secure loan is secured by your existing deposit account (CD or secondary savings account) which means there is no credit qualifying involved. The minimum loan amount starts at $100 and terms are available up to 180 months*.
- Rate is fixed based off of your secured accounts interest rate at the time of closing plus 2.5% rounded up to the nearest .25%
- Fixed term and payment
How Shared-Secured Can Help:
- Can be used to build or re-build credit
- Still earn interest on funds in your CD or Savings account
- Take advantage of low rates
*The loan term cannot exceed the term of the CD. A $1,000 loan with a 3-year term secured by a 36-month CD with a current APY of 0.75% (as of 9-1-2013) would have equal monthly payments of $29.00. The Annual Percentage Rate (APR) for this loan would be 3.25% (0.75% + 2.50% = 3.25% rounded up to the nearest 0.25%).