BMI Federal Credit Union
Holiday Loans Are Back...
Need Extra Cash for the Holidays?
Secure Your Holiday Loan Today!
Get a Holiday Loan and choose the loan amount that's right for you. Enjoy low fixed rates and no application fees.
$1,000 for 12 months, 6.99% APR*
$3,000 for 24 months, 7.99% APR*
$5,000 for 36 months, 8.99% APR*
Our Holiday Loan specials only come around once a year and are a BMI FCU favorite! To learn more about why we love Holiday Loans and how they can help you, read our blog: Why We Love Holiday Loans
Holiday Loan vs Credit Card Rates
Compare the National Average Credit Card Rates to our Holiday Loans to see how much you could save!
| |
Holiday Loan |
Average Credit Card |
| Amount |
$1,000 |
$1,000 |
| APR |
6.99%* |
20.53%+ |
| Terms |
12 months |
12 months |
| Monthly Payment |
$87.01 |
$92.00 |
| Interest Paid |
$43.96 |
$114.00 |
| Est. Total Cost of Loan |
$1,043.96 |
$1,114.00 |
| |
Holiday Loan |
Average Credit Card |
| Amount |
$3,000 |
$3,000 |
| APR |
7.99%* |
20.53%+ |
| Terms |
24 months |
24 months |
| Monthly Payment |
$136.55 |
$153.00 |
| Interest Paid |
$276.37 |
$683.00 |
| Est. Total Cost of Loan |
$3,276.37 |
$3,683.00 |
| |
Holiday Loan |
Average Credit Card |
| Amount |
$5,000 |
$5,000 |
| APR |
8.99%* |
20.53%+ |
| Terms |
36 months |
36 months |
| Monthly Payment |
$160.13 |
$187.00 |
| Interest Paid |
$763.21 |
$1,738.00 |
| Est. Total Cost of Loan |
$5,763.21 |
$6,738.00 |
*APR = Annual Percentage Rate. Rates as of November 1, 2024. 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, 2025.
+Source: Bankrate.com; Current credit card interest rates: 10/16/24; Author: Ted Rossman
www.bankrate.com/credit-cards/advice/current-interest-rates | www.bankrate.com/credit-cards/tools/credit-card-payoff-calculator