Savings Account Loans from Investment Savings Bank
ISB provides loans to our deposit customers that are secured by ISB Certificates of Deposit (loan collateral). This loan’s interest rate is 2.00% above the Certificate of Deposit’s interest rate. This provides our deposit customers with a low interest rate loan and flexible repayment terms. Lending amounts are based on the ISB Certificate of Deposit account’s available balance.
Speak with one of our lending professionals for more detail and find out if a Savings Account loan may be the simple answer for you.
Use:
Use the Savings Account Loan for a one-time expense, such as Home Improvements or Major Purchases (Boat, Automobile, or Appliances). It can also be used for Debt Consolidation, or Vacations.
Benefits:
- Quick approval and disbursement of funds.
- Terms you are comfortable with.
- Consolidate total monthly payment obligations with a Consolidation Loan.
- No loan prepayment penalty charge if the loan is repaid early.
- An early redemption penalty may apply to your ISB Certificate of Deposit if it is redeemed early in part or in full.
*All loans subject to normal underwriting approval*
Terms:
- Loans up to 90% of your ISB Certificate of Deposit available balance.
- The savings account loan interest rate is 2.00% more than the interest rate you receive on your ISB Certificate of Deposit (loan collateral).
- Savings Account loans are available to any person 18 years of age or older to use for personal, family or household purposes.
