Good Start CD Loan Program
First Independence Bank’s Good Start CD Loan Program is designed for individuals looking to establish or re-establish credit using a Certificate of Deposit (CD) as collateral. The CD may be funded by the proceeds from the actual loan or the applicant’s own proceeds. It is a fast, convenient, low cost way of obtaining a loan.
- No minimum Credit Score
- Reduced rate with automatic loan payment deductions
- Proof of recurring income
- Must complete a one page Credit Quiz at time of application
- Must be 18 or older to apply
- Must live within Wayne, Oakland or Macomb Counties
- Open a FIB Certificate of Deposit or pledge an existing Certificate of Deposit
- $500 – $5,000
- Fixed Rates
- Flexible repayment term
- No Tax or IRS liens or judgments
- No IRA CD’s or CD’s captioned “In Trust For”
First Independence Bank offers loans to help establish or re-establish credit. Stop by one of our branches and pick-up an application, or call (313) 256-8400 for more details.