Credit Builder Loan

It’s more important than ever to build good credit.  We can help!

Speak with a Timberwood Bank Lender about a CREDIT BUILDER LOAN with monthly payments as low as $44.14!

This is how it works:

  1. You borrow $1,000 for a term of 12, 18 or 24 months.
  2. The money you borrow is then placed on hold in a Savings Account for you and earns interest.
  3. You make monthly principal and interest payments to repay the amount you borrow and when you make your final payment, the funds are available for you.

At the end of your loan term, you will have started to establish credit* and have a jump start on your savings.

  • 12 months - payment $85.65

    5.00% Fixed Rate, 9.854% APR**

  • 18 months - payment $57.94

    5.25% Fixed Rate, 8.620% APR**       

  • 24 months - payment $44.14

    5.50% Fixed Rate, 8.098% APR**

*Credit Building results are not guaranteed and are dependent on your specific situation and financial behavior. **Annual Percentage Rates effective March 14, 2019 and based upon a loan amount of $1,000 with $25 loan administration fee. Must be 18 years old at time of loan application. Subject to credit approval.