 |
| Preferred LOC |
9.95% |
| Personal LOC |
13.75% |
|
|
|
|
|
Line
of Credit or Loan?
A personal credit line
or loan is ideal for expenses that fall between everyday credit card purchases
and larger expenses that can be financed with the equity in your home. It’s
also a good choice for homeowners with little equity or who prefer not to
use it.
What
are the features of lines of credit and loans?
Compare a personal
line of credit and personal loan side-by-side to learn how these features
of CFCU personal credit accounts can help you meet major expenses, such
as home furnishings, medical expenses, electronic equipment, bill consolidation,
college tuition or other major purchases.
| |
Personal
Credit Line |
Personal
Loan |
| Ideal
for: |
Ongoing
expenses when you’re not sure exactly how much you need and
when you will need it. |
A
one-time purchase when you know exactly how much money you need up
front, and you don’t anticipate needing additional financing
in the near future. |
| Access
to Funds |
Borrow
only the funds you need at the time you need them without having to
reapply during the term of the line of credit. |
Receive
the entire amount of the loan up front. |
| Amount
You Can Borrow |
$500
to $20,000 |
$500
to $20,000 |
| Minimum
Monthly Payment |
Payments
are based on the loan balance see payment
table. |
Fixed
monthly payments of interest and principal.
Loan calculator. |
| Payment
Options |
Monthly
payments based on outstanding balance. |
Fixed
monthly payments of interest and principal.
Pay additional principal at any time during the
term of the loan.
|
| Annual
Percentage Rate |
Fixed
rate that’s generally lower than loan rates.
Get a rate quote online or
Contact us. |
Fixed
rate and fixed monthly payment.
|
|
|
Loan Options
