Mauritius Finance

Mar 22 2018

Personal Loans

Signature Loans

A signature loan can be a great option if you need to finance expenses, such as new appliances, medical expenses or any other personal needs you may have.

Why is it called a Signature Loan?

This type of loan requires no collateral. It s backed simply by your credit history, ability to repay and your signature promising to pay the loan back according to its terms.

Since they require no collateral and come with a low, fixed rate, signature loans make it possible for you to borrow the money you need.

Benefits and features:

  • Low rates
  • Terms up to 60 months
  • No collateral required
  • Ideal for unexpected expenses

Line of Credit

A Line of Credit is a loan that gives you the ability to borrow money when you need it, and only pay for the amount you borrowed plus interest based only on the outstanding balance. A Line of Credit can help you pay for unexpected expenses, cover overdrafts or just serve as a safety net in a financial emergency.

Benefits and features:

  • Low payments
  • A set limit based on your credit history and rating
  • Use your Line of Credit as an automatic form of overdraft protection for your checking account
  • Easy access from online banking. by phone or at a branch
  • Ideal for ensuring you re covered if unexpected expenses arise

Share Secured

Share Secured loans allow you to borrow funds that are secured by your RBFCU savings account as collateral, up to the available account balance. Share Secured Loan Rate at 2% APR over your share dividend rate.

Benefits and features:

  • Repay your loan at a low rate
  • Terms up to 60 months
  • Funds secured in your account continue to earn dividends and may be released as the loan principal is reduced through payments
  • Ideal for building credit or making a purchase without using savings

Certificate Secured

Certificate Secured loans allow you to borrow funds that are secured with your RBFCU certificate account as collateral. This gives you the opportunity to leverage those funds into a loan without an early withdrawal penalty if you determine you need money before the certificate matures. You must currently have a certificate account with RBFCU to take advantage of this loan option. Certificate Secured Loan Rate at 2% APR over your certificate rate. (IRA Certificates excluded)

Benefits and features:

  • Repay your loan at a low rate
  • Borrow for the term of the certificate
  • Funds secured in your certificate continue to earn dividends
  • Ideal to maintain reserves and avoid certificate withdrawal penalties when expenses arise

Ready to apply for a loan? Here s what you ll need to complete the application:

  • The amount you would like to borrow
  • The number of years you want to finance your loan (term length)
  • Your current employment and income information
  • Your phone number and email
  • Information for joint borrowers you plan to include on the auto loan (including date of birth, address, income and employment, Social Security number and contact information; if applicable)

FAQs

When you apply for a personal loan, we take your overall situation into consideration, including your income and any debts/obligations you may have. If you have a specifc need for a certain amount, be sure to note it in the comments on your personal loan application.

Personal loans are available with terms ranging up to 60 months. To apply for a personal loan, log in to your online banking account. If you are not a member, you can apply online. then complete the membership application.

A Credit Builder Loan is a loan designed to assist members with no credit or past credit problems as they strive to establish a better credit history. The money borrowed is secured in the member s savings account while regular payments are made. For more information, visit our Credit Builder Loan page .

A Credit Builder Loan is a tool to build your credit.The biggest difference is that Credit Builder Loan funds are placed in an account for safekeeping while you make scheduled payments.

A personal loan provides funds for your needs that are available immediately.

To increase your credit card or line of credit limit, you will need to submit a new credit application. You can complete the application through your online banking account. Just choose the product you currently have and indicate you want a credit line increase on the application.

With high-value products and services, Randolph-Brooks Federal Credit Union (RBFCU) is a trusted financial partner for thousands of members in Texas, as well as around the world. RBFCU offers all the banking services you would expect from a leading credit union, and we’ve also made it our mission to help improve our members’ economic well-being and quality of life. Our commitment to personalized service makes RBFCU membership the smarter banking choice.

Any alternate website that you visit by a link from RBFCU’s website is solely the responsibility of that entity. Third-party links accessed from this site are provided for the convenience of RBFCU members. RBFCU is not responsible for the content of the alternate web site and does not represent either the third party or the member if the two enter into a transaction. Privacy and security policies on the third-party site may differ from those practiced by RBFCU.

Contact us today or stop by a local branch to find out how you can become a member.

Federally Insured by NCUA. Equal Housing Lender.

Randolph-Brooks Federal Credit Union 2017.

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