Personal Loan Secured by Certificate of Deposit Disclosures

All loans subject to credit approval

APR

 APR is the Annual Percentage Rate.  The Rate is fixed based on the Certificate of Deposit Rate, plus 3%. Payments are interest-only payable quarterly (January 1st, April 1st, July 1st, and October 1st) with the full balance due at maturity.  A typical example of the payment terms for a $1,000.00 loan balance at 11% would be $27.50 per quarter, with a balloon of $1027.50 at maturity.

A Consumer Loan Specialist will review and provide you with the terms, conditions, disclosures, and additional details that applies to your specific situation.

LOAN AMOUNT:

Minimum Loan Amount: $1,000
Maximum Loan Amount: Up to 97% of the account balance

For example, a $1,000 loan balance requires there to be a balance of $1,030.93 in a Walden Savings Bank savings account, for which a hold will be placed.  If the principal balance of the loan is paid down, the savings account will be released, never to go below 103% of the principal balance of the loan.

TERMS AVAILABLE:

Loan term equals the term of the certificate of deposit

GEOGRAPHY:

Personal Loan applications may be taken for borrowers residing within the New York State counties of Orange, Ulster, Sullivan and Dutchess.

ELIGIBLE BORROWERS:

Walden Savings Bank will provide financing to natural persons with the legal capacity to enter into a binding contract, but in all instances, each individual signing the note must be fully underwritten and be 18 years of age or older.

Rates shown subject to change without notice.