Find your responses. A Credit intense account may be the fusion of the secured consumer installment loan and a savings account.

Find your responses. A Credit intense account may be the fusion of the secured consumer installment loan and a savings account.

How It Operates

Throughout the lifetime of your Credit Strong account you develop both credit rating and cost cost savings.

Whenever you start a Credit Strong account:

  • Austin Capital Bank provides you with an installment loan and places the borrowed funds in a family savings in your title
  • That you do not have the funds on one, they are instantly deposited into the savings account day
  • A lock is put from the funds when you look at the family savings to secure the mortgage every month you will be making just one, fixed payment that is monthly of and interest regarding the loan
  • The portion that is principal of loan re re payment is credited towards the lock on your own checking account plus the interest part of your re payment is exactly how we cover the expense of supplying the solution for you
  • Throughout the term of the account we report your loan re re payment history to all the three major credit reporting agencies and also you make interest on your own checking account balance
  • If the loan is compensated in-full, the lock is taken away through the checking account while the funds become accessible to you

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