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Credit Booster Loan

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.

  • Your credit report is obtained but a credit history is not required.
  • The loan is secured by the proceeds of the loan to build new credit or repair existing credit.
  • The loan proceeds are deposited into a Country Bank savings account (new or existing).
  • As principal is paid toward the loan, the loan amount decreases, making funds available.
  • Minimum loan amount: $200 / Maximum loan amount: $3,000
  • Minimum term: One (1) Year / Maximum term: Three (3) Years
  • One loan per customer
  • If all payments have been made, the borrower will receive an interest credit incentive up to a maximum of $50 at the end of the term. The loan balance is then made available to the customer.

You can reduce the rate 0.250 percentage points by automatically deducting your payment from your Country Bank checking/savings account. New accounts must be opened prior to closing.

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Loan Basics

Loan basics to help you understand how a loan works.

  • When you borrow money from a bank, it is called a loan.
  • The amount you borrow, which is also called the principle balance, is paid back to the bank along with interest and applicable fees.
  • The loan payment amount will be based on how much you borrow, the interest rate and the loan term.
  • The loan term is the time it will take to pay back the loan (example: 12 months, 36 months, etc.).
  • Banks will require an application to be completed to apply for a loan.
  • Banks will consider your credit score, income along with other factors when determining if you are approved for a loan.