Double Dollar Loans
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Double Dollar Loans
It’s important to find a loan that’s right for your situation. That’s why we offer a Double Dollar Loan! This type of loan is a secured loan which means it requires cash up front to use as collateral. However, to live up to its name, you get twice the amount you put in. Need a $1,000 loan? You’ll only need $500 cash up front. And the best part is that you get that money back once the loan is paid off in full.
- Borrow Twice the Amount of Your Deposit
- Loans from $1,000 to $10,000
- Set, Low Rate
- 5 Year Repayment Plan
- No Early Payoff Penalties
- Great for Building Credit
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Double Dollar Loans
| MAXIMUM AMOUNT | MAXIMUM TERM | ANNUAL PERCENTAGE RATE |
| $10,000 | 60 months | 10.50% |
LOAN PAYMENT EXAMPLE:
$21.49 per month per $1,000 borrowed at 10.50% APR for 60 months
*Information accurate as of January 5, 2021.
Payment Calculator
Estimating your loan payment before buying can boost your negotiating power and help you choose the best loan term and down payment for your budget.
Frequently Asked Questions
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What is interest?
Interest is the amount of money charged for borrowing from a financial institution, typically expressed as an annual percentage rate (APR).
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How soon can I get my money?
In some cases, you can get access to your money in as little as 48 business hours. To help speed up the process, visit our Applying for a Loan Page for a checklist of necessary documents.
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Can my rate change after I’m approved for a loan?
No, once you’ve been approved, your rate will remain the same throughout the life of the loan.
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Can I use my Share Certificate as my collateral?
Unfortunately, a Share Certificate cannot be used as collateral for a Double Dollar Loan; however, you can apply for a Certificate Secured Loan.
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Can I pay my loan off early?
Yes, you can pay your loan off at your own pace as long as you make at least your minimum payment each month.
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Is there a fee for paying my loan off early?
No, there are no fees for early payoff.