BMI Federal Credit Union
The BMI Federal Credit Union Holiday Loan
Why We Love This Great Loan
We’ve made it to the holiday season, and BMI Federal Credit Union is here to help you be smart and savvy with your finances with a Holiday Loan.
At some point in your life, you will find yourself needing a loan. Whether it’s a home mortgage, car loan, or credit card, there are a few important criteria you’ll want to consider. Designed to help you in a number of ways, The BMI Federal Credit Union Holiday Loan checks all the boxes of a great loan option.
Low Fixed Rates: APR (Annual Percentage Rate) is one of the first things to pay attention to. The lower the interest rates, the better for you. While interest rates can vary, they can also change within the term of your loan. This is why you’ll want to consider a fixed or variable (also known as flexible) interest rate. While you may want to weigh your options for longer term loans like home mortgages, fixed interest rates can be beneficial for shorter term loans. That’s why we keep the Holiday Loan simple with low fixed rate options.
Three Loan Options: The Holiday Loan offers three loan options: $1,000, $3,000, or $5,000. Each loan amount corresponds with its own low fixed rate and loan term – just another way this loan keeps things easy.
Manageable Terms: Your interest rate and loan size go hand-in-hand with your loan term. The loan term determines how much time you have to repay the loan. For the Holiday Loan, each tiered interest rate, loan size, and loan term is designed for an easy and manageable repayment schedule.
No Application Fees: None of BMI FCU loans require initial application fees. This is not a common practice across all financial institutions, but we believe you shouldn't have to pay to apply for our loans.
Choose The Loan Amount That's Right For You:
$1,000 for 12 months, 6.99% APR*
$3,000 for 24 months, 7.99% APR*
$5,000 for 36 months, 8.99% APR*
- If you’re not sure if a Holiday Loan is right for you, give us a call at 614.707.4000.
- If you think you might need a little extra help getting your finances in order this season, check out our Financial Education Program! Consider a free one-on-one session with a Certified Financial Coach or register to attend our free financial education workshops.
*APR = Annual Percentage Rate. Rates as of November 1, 2022. A $1,000 loan will be 12 monthly payments of $87.01. A $3,000 loan will be 24 monthly payments of $136.55. A $5,000 loan will be 36 monthly payments of $160.13. Only one Holiday Loan per member. Members with existing Holiday Loans are eligible and will need to combine their existing Holiday Loan into the new loan. No Payment for 60 days. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, and qualifications. All loans subject to approval. Membership eligibility requirements apply. BMI FCU may amend, suspend, or discontinue this offer at any time without notice. Offer ends January 31, 2023.