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Credit Booster Loan

Not sure what a loan is or how it works? Here is some basic loan information.

Are you trying to build or repair your credit?

Our Credit Booster Loan may help build or repair your credit. Customers who would not normally qualify for a loan, may be approved for this loan. This is also a great loan for someone 18 or older who is looking to establish credit.

  • This loan is a collateral loan secured by the proceeds of the loan with the purpose being to try to build new credit or to try to repair an existing credit history.
  • A credit history is not required to be approved for this loan, however a credit report is obtained.
  • Minimum loan amount: $200 / Maximum loan amount: $3,000
  • Minimum term: One (1) Year / Maximum term: Three (3) Years
  • One loan per customer.
  • If the loan goes 30 days late, Country Bank will exercise the Right of Setoff, remove the hold from the account and pay off the loan.
  • If the loan is 30 days late, it will be reported as such to the credit bureau and it could negatively impact your credit history and credit score.
  • Income must be documented on the application.

It’s important to make the payments on time. We can make this a little easier for you by setting up auto pay so that your payment comes directly out of your account every month when the payment is due. You just need to make sure you have enough money in your account to make the payment. By automatically deducting your payment from your Country Bank checking/savings account, you can reduce the rate by 0.250 percentage points! New accounts must be opened prior to closing.

Here is an overview of the loan process:

Here is a loan example with the breakdown of the loan and the interest credit incentive:

Must be 18 or older to apply for this loan.

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