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Savings Assistance Loan (SAL)
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Some people who fall short of their goal to save funds for emergencies find it easier to make a loan payment than to set aside savings. EFCU offers a Savings Assistance Loan that enables individuals 18 and older to receive up to $2,000. The funds are deposited into savings, and the member pays the loan with a low monthly payment and at a low interest rate.
With a good repayment record, the S.A.L. is a great way to rebuild your credit or establish new credit as this information is reported to the credit bureaus.
To learn more or to apply for a SAL, visit the loan department nearest you or call us at (850) 862-0111.
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| 42 Months |
5.00% |
2.61% |
This type of loan is offered to assist members in starting a Savings account. SAL proceeds are deposited into member's share suffix 1. These shares will be used to secure this loan. The entire deposit will be on hold until the SAL is paid in full. Members may have only one SAL at a time.
Maximum loan amount is $2,000.
Monthly minimum repayment is a percentage of the amount borrowed or $35 per month.
* APR = Annual Percentage Rate
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Savings Assist Loan
