Credit Builder Loan

Personal Loans

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    Credit Builder Loan

    Whether you’re starting out or starting over, a Credit Builder Loan is a great way to build a healthy credit score. The loan proceeds are placed in a savings account to secure the loan. Each month we report your payments to the credit bureaus. When you make the final payment, the loan proceeds are available, or you may continue to build your savings. If your credit is not where you want it to be, this small loan can help you get there.

    Apply for a Credit Builder Loan

    CD Secured Loan

    The CD Secured Loan is a secured personal loan where you can borrow money against a new Certificate of Deposit. Each month we report your payments to credit bureaus, which can help you establish a good and healthy credit score.

    Apply for a CD Secured Loan

    All Our Personal Loan Accounts Offer Incredible Benefits and Services

    All our personal loan accounts come with incredible benefits and services:

    Building Financial Wellness

    Through our partnership with the national nonprofit, Greenpath Financial Wellness, Spring Bank customers can access free one-on-one financial counseling or other GreenPath programs and services.

    Other Important Benefits of all Spring Bank Consumer Loans

    • Simple online application process--apply from anywhere, anytime
    • No Prepayment Penalties
    • No Hidden Cost
    • Opportunities to build credit and savings

    One Application Fee. No Hidden Costs.

    No Hidden Costs.
    The loan process is simple and the costs are transparent.

    No Prepayment Penalties

    You can prepay your personal loan anytime without incurring any fees.

    Simple to Apply

    From application to closing, the loan application process is completely automated. Use your computer or mobile device to get started.

    Opportunity to Build Savings

    Loan proceeds are placed in a high-interest rate Spring Bank savings account, making it simple to build your savings balance with every payment.

    Opportunity to Build Credit

    With on-time payments, you can create or improve your credit score.

    Use of Your IDNYC

    We are all about expanding access. That is why we accept IDNYC as a primary form of ID for account opening or loan processing.

    Explore Other Loan Products

    GoGreen Cycle Loan

    Access up to $2,500 with no minimum credit score requirement.

    Learn More

    The Opportunity Loan

    Offered to employees at partner employers, borrow up to $3000 when an emergency comes up or an opportunity comes around. No minimum credit score requirement. You can access funds when you need them and take advantage of opportunities to build your credit profile and savings at the same time.

    Learn More

    Loyalty Loan

    Have you been a Spring Bank customer for a year or more? Then you can apply for our Loyalty Loan of up to $2500.

    This loan requires a minimum credit score of 620 and can help you build your credit profile.

    Learn More

    Credit Builder Loans

    Want to create or improve your credit profile? The credit builder and CD Secured loans can help you get there. The proceeds of your loan remain in your savings or CD account as you build toward savings and an enhanced credit score.

    Learn More

    Schedule an Appointment

    Ready to grow with us? Come in and talk to one of our account managers to see how we can help. You can open a checking account, apply for a loan, open an IRA account and much more. Use the form below to schedule an appointment:

    Open Business Checking Account Online in New York

      Have any questions? Stop by a branch or call us at (718) 879-5000.