Save for that special moment or start building your credit history.
The CrediSavings loan allows you to place the loan money in a certificate of deposit (CD), which you will pay over the selected term.
This CD becomes collateral and earns interest throughout the term of the loan.
When you pay off your loan, the bank disburses the money from your CD, as well as the interest generated.
Loan available only in the U.S. Virgin Islands.
Product offered by Banco Popular de Puerto Rico.
Subject to credit approval and compliance with the parameters offered by Banco Popular. Other terms and conditions apply.
Loan is available only in the U.S. Virgin Islands. Base rate from 5.50% Annual Percentage Rate (APR); minimum rate is 5.25%. For example, a $5,000 loan at 5.25% APR for 72 months would pay $81.11 a month. The 5.25% APR includes a 0.25% discount if you enroll in Direct Payment. CrediSavings is a Personal Loan product with guaranteed savings. The loan guarantee is a Certificate of Deposit (CD) that opens upon the approval of the loan, placing the approved amount on it. This Certificate of Deposit becomes the collateral for the loan. After making your monthly payments, the deposited money is disbursed at the end of the loan’s term.
You have the option to start paying your loan up to 90 days after disbursement; however, this does not constitute a forgiveness of interest accrued during this period; said interests will be prorated for the term of the loan. If any applicant is a covered debtor as defined by the Military Lending Act, the availability of this option is subject to the provisions of that Act.
Same-day credit decision for applications that contain all the information necessary for evaluation and are received on business days, Monday to Friday from 8:00 a.m. to 1:00 p.m. EST. Same-day disbursement subject to branch hours and to the customer meeting all approval requirements. Other restrictions apply.