LOAN RATES

The Connecticut Federal Credit Union provides several types of loans to its members. You can get auto loans, cash advances, personal loans, home improvement loans, student loans, and home loans.

Personal Loans

Personal loans are suitable for financing large purchases, medical bills, weddings, vacations and other large expenses.

Loan amount: $2,000 to $35,000.

Loan terms: from 1 to 5 years.

Interest Rate: 7.99%-21.99%.

Fees: No origination or application fees, and no prepayment penalty.

Auto loans

Auto loans are for the purchase of vehicles. It can be cars, motorcycles, boats, trailers, motor homes. We finance both new and used vehicles.

New Cars:

36 Months 100% Financing - 1.9%
48 Months 100% Financing - 3.9%
60 Months $1,000 Down or Trade-In equal to $1,000 - 5.9%
72 Months 10% Down or Trade-In equal to 10% - 6.9%.

Used Cars:

48 Months (1-4 Yrs. Old) - 4.9%
60 Months (1-4 Yrs. Old) - 6.9%
72 Months (1-4 Yrs. Old) - 8.9%.

Cash Advances

A cash advance is a quick way to get a small amount of money to cover unexpected expenses. They are easy to design and quickly provide access to funds within 24 hours.

Minimum loan amount: $500
Maximum loan amount: $1,000
Interest rate: 5.99% to 35.99%
Initial repayment period:14 days
Finance fee: $55.

Home Improvement Loans

Such loans are provided to those whose house needs repair. These are long-term loans with a fairly large maximum loan amount.

Loan amount: $2,500 to $35,000
Loan terms: 12-84 months.
Interest Rate: 6.99% to 24.99%
Fees: Late fees.

Student Loans

These are loans that are designed to pay for student tuition. They can be used to cover other expenses as well, such as textbooks or housing.

Loan amount: from $1,000 up to 100% of the school-certified expenses
Loan terms: 10-15 year
Interest Rate: 4.50% - 15.10%

Home loans

Home loans are also known as mortgages. They are intended for the purchase of real estate, such as an apartment, a house, or a plot of land.

Fixed-Rate Loans terms: from 10 to 30 years

Adjustable-Rate Loans: initial fixed periods from 3 to 10 years

Interest Rate: 7.10% - 8.15%

Down Payment: 7%.