Who are BUILD & SAVE Accounts designed for?

Build Credit & Targeted Savings

Build & Save accounts are designed for consumers that want to grow a target amount of savings in a specific timeframe. With Build & Save you can build:

  • $1,000 of savings in 12 months, or
  • $1,000 or $2,000 of savings just in 24 months

Consider Your Goals

When selecting your account type, you should consider how important the savings element is to your goals. While Build & Save accounts accelerate your savings progress because of their shorter term, the shorter term may not positively affect your ‘Length of Credit History’ as much as other Credit Strong accounts. Length of Credit History impacts 15% of your FICO® Score.

Example: Depending on your objectives, you may be better off with a Subscribe account and keeping it open for five years vs getting five 12 month Build & Save accounts in a row.

Balanced Credit Building and Savings

Build your nest egg quickly while you build credit. While all Credit Strong accounts help grow savings each month, Build & Save accounts have shorter terms, so more of each payment goes towards your savings progress.

Decreasing Cost – Increasing Savings

With Build & Save accounts, every month your interest cost goes down and your savings progress accelerates.

The tables below illustrate interest expense vs. savings progress for Build & Save 1000 12 month, Build & Save 1000 24 month, and Build and Save 2000 24 month accounts.

Build & Save 1000 – 12 Months

One-time, non-refundable administrative fee: $8.95
Annual percentage rate: 14.04%

Monthly Payment Monthly Savings Progress Monthly Interest Expense Cumulative Savings Progress Avg. % of Payment Applied to Savings Progress
Month 1 $89.00 $78.73 $10.27 $79 88%
Month 2 $89.00 $79.54 $9.46 $158 89%
Month 3 $89.00 $80.36 $8.65 $239 90%
Month 4 $89.00 $81.18 $7.82 $320 91%
Month 5 $89.00 $82.01 $6.99 $402 92%
Month 6 $89.00 $82.86 $6.14 $485 93%
Month 7 $89.00 $83.71 $5.29 $568 94%
Month 8 $89.00 $84.57 $4.43 $653 95%
Month 9 $89.00 $85.44 $3.56 $738 96%
Month 10 $89.00 $86.31 $2.69 $825 97%
Month 11 $89.00 $87.20 $1.80 $912 98%
Month 12 $89.00 $87.19 $0.90 $1,000 98%

Build & Save 1000 – 24 Months

One-time, non-refundable administrative fee: $8.95
Annual percentage rate: 14.89%

Monthly Payment Monthly Savings Progress Monthly Interest Expense Cumulative Savings Progress % of Payment Applied to Savings Progress
Month 1 $48.00 $36.36 $11.64 $36 76%
Month 2 $48.00 $36.78 $11.22 $73 77%
Month 3 $48.00 $37.21 $10.79 $110 78%
Month 4 $48.00 $37.64 $10.36 $148 78%
Month 5 $48.00 $38.08 $9.92 $186 79%
Month 6 $48.00 $38.52 $9.48 $225 80%
Month 7 $48.00 $38.97 $9.03 $264 81%
Month 8 $48.00 $39.42 $8.58 $303 82%
Month 9 $48.00 $39.88 $8.12 $343 83%
Month 10 $48.00 $40.35 $7.65 $383 84%
Month 11 $48.00 $40.82 $7.18 $424 85%
Month 12 $48.00 $41.29 $6.71 $465 86%
Month 13 $48.00 $41.77 $6.23 $507 87%
Month 14 $48.00 $42.26 $5.74 $549 88%
Month 15 $48.00 $42.75 $5.25 $592 89%
Month 16 $48.00 $43.25 $4.75 $635 90%
Month 17 $48.00 $43.75 $4.25 $679 91%
Month 18 $48.00 $44.26 $3.74 $723 92%
Month 19 $48.00 $44.78 $3.22 $768 93%
Month 20 $48.00 $45.30 $2.70 $813 94%
Month 21 $48.00 $45.83 $2.17 $859 95%
Month 22 $48.00 $46.36 $1.64 $906 97%
Month 23 $48.00 $46.90 $1.10 $953 98%
Month 24 $48.00 $46.90 $0.55 $1,000 98%

Build & Save 2000 – 24 Months

One-time, non-refundable administrative fee: $8.95
Annual percentage rate: 14.43%

Monthly Payment Monthly Savings Progress Monthly Interest Expense Cumulative Savings Progress % of Payment Applied to Savings Progress
Month 1 $96.00 $72.71 $23.29 $73 76%
Month 2 $96.00 $73.56 $22.44 $146 77%
Month 3 $96.00 $74.42 $21.58 $221 78%
Month 4 $96.00 $75.28 $20.72 $296 78%
Month 5 $96.00 $76.16 $19.84 $372 79%
Month 6 $96.00 $77.05 $18.95 $449 80%
Month 7 $96.00 $77.94 $18.06 $527 81%
Month 8 $96.00 $78.85 $17.15 $606 82%
Month 9 $96.00 $79.77 $16.23 $686 83%
Month 10 $96.00 $80.70 $15.30 $766 84%
Month 11 $96.00 $81.64 $14.36 $848 85%
Month 12 $96.00 $82.59 $13.41 $931 86%
Month 13 $96.00 $83.55 $12.45 $1,014 87%
Month 14 $96.00 $84.52 $11.48 $1,099 88%
Month 15 $96.00 $85.51 $10.49 $1,184 89%
Month 16 $96.00 $86.50 $9.50 $1,271 90%
Month 17 $96.00 $87.51 $8.49 $1,358 91%
Month 18 $96.00 $88.53 $7.47 $1,447 92%
Month 19 $96.00 $89.56 $6.44 $1,536 93%
Month 20 $96.00 $90.60 $5.40 $1,627 94%
Month 21 $96.00 $91.66 $4.34 $1,719 95%
Month 22 $96.00 $92.72 $3.28 $1,811 97%
Month 23 $96.00 $93.80 $2.20 $1,905 98%
Month 24 $96.00 $93.79 $1.10 $2,000 98%

Note: All amounts above are estimates based on on-time loan payments, actual amounts may vary depending on timing, amount, and number of payments.