Flexible Options and Great Rates
We have flexible options with both variable and fixed interest rate loans available. Payments can be deducted from your chequing or savings account. You can pay off your loan in full, or make extra payments at any time without penalty. It's that easy.
And when you borrow from KS, you earn profit shares, too.
Term Loans are designed to give you a big chunk of cash only once, usually for a specific purpose, and is repaid over an agreed-upon period of time.
With a Secured Term Loan, you pledge something of value to secure the loan. It becomes registered security of Kootenay Savings and can't be used as collateral to borrow anything else.
Unsecured Term Loans require only your signature as security. Your signature is your promise to pay.
Choose from weekly, bi-weekly, monthly or semi-monthly payments automatically deducted directly from your account.
Make extra payments or pay out the loan at anytime without a penalty.
Get peace of mind knowing that your payment amount will not increase over the term of the loan, unless otherwise negotiated.
Choose between a fixed or variable rate loan.
A fixed rate is a rate that is in place for one year only. The interest rate and payment amount will fluctuate depending on the interest rate at the time of renewal or maturity only.
A variable rate is based on the Kootenay Savings Prime Lending Rate and fluctuates with changes. Your payment amount remains the same unless a new loan is negotiated.