Personal Loans & Lines of Credit
Whether you want to consolidate debt, pay for education expenses or fund an important life event like a wedding or new baby, a personal loan or line of credit can provide the cash you need. KeyPoint offers loans and lines up to $25,000 with competitive low rates and terms.
| Personal Loans | Lines of Credit | Secured loans | |
|---|---|---|---|
| Amount You Can Borrow | $500 to $25,000 | $1,500 to $25,000 |
Borrow against the money you have on deposit, while it earns dividends for you. Use any of the following as collateral: |
| Minimum Monthly Payment | Pre-determined monthly payments are based on the final loan amount, rate and term. | $25.00 or 2% of the outstanding balance only when you use your Personal Line of Credit. | Available as loans only (no credit lines) with pre-determined monthly payments based on the interest rate, loan amount and repayment term. |
| Loan Type | Loan Term | APR | Monthly Payment |
|---|---|---|---|
| Personal Loan ($500-$25,000) | 12-72 months | 8.20%-18.75% | $17.63-$23.23 (for each $1,000 borrowed at the maximum term) |
| Personal Line of Credit ($1,500-$25,000) | N/A | 8.20%-18.75%* | $25.00 or 2%** |
*Rate is variable, based on Prime Rate as published in The Wall Street Journal Money Rates Table (the "Index") plus a margin.
**The minimum monthly payment is the greater of $25.00 or 2% of the outstanding principal balance of the credit line plus accrued interest and other fees and charges billed to the account during the monthly billing period.
Rates accurate as of 4/24/2020 and subject to change.
| Title | APR | Amount Financed | Term |
|---|---|---|---|
| *Certificate-Secured Loan | Certif. Rate +2% | N/A | Certificate Maturity |
Rates accurate as of 4/24/2020 and subject to change.
| Title | APR | Amount Financed | Term |
|---|---|---|---|
| Share Account Secured Loan | 2.49% | $2,500 | 24 to 60 months |
| 2.99% | $2,500 | 72 months |
Payment Example:
Pay $15.19 per month per $1,000 borrowed at 2.99% APR for 72 months
Rates accurate as of 4/24/2020 and subject to change.
| Title | APR | Amount Financed | Term |
|---|---|---|---|
| Stock Secured Loan | 10.9% | Max LTV 50% of current value | 24 to 60 months |
Payment Examples:
Pay $42.76 per month per $1,000 borrowed at 2.49% APR for 24 months
Pay $35.02 per month per $1,000 borrowed at 15.74% APR for 36 months
Rates accurate as of 4/24/2020 and subject to change.
- Personal Loans and Lines of Credit
- Valid government issued photo ID
- Most current paystub (if requested)
- Secured Loans
- Valid government issued photo ID
- Existing KeyPoint Savings or Certificate account
- Most current paystub (if requested)
- If you're applying for the Starting Point program, you'll need:
- Most current paystub or signed offer letter
- Valid government issued photo ID
- Social Security number
- Verification of residence
- Minimum 10% down payment
ALL LOANS SUBJECT TO CREDIT APPROVAL. RATE IS BASED ON CREDITWORTHINESS AND OTHER FACTORS, AND MAY BE HIGHER THAN THE RATE SHOWN. RATES AND TERMS SUBJECT TO CHANGE WITHOUT NOTICE.