UNSECURED Terms & RATEs
**Eligibility is based on length of time with the credit union. Anyone with a credit score under 500 must have board approval for any unsecured loan with PTFCU unless they have been members of this credit union for longer than 10 years, and are in good standing with New Jersey Transit. Loans must be paid for 6 months, and be at least 1/3 paid before eligible to apply for a new loan.
NOTE: Rates are subject to change without notice.
| ELIGIBILITY ** | UNSECURED | SECURED | TOTAL LOAN AMOUNT |
|---|---|---|---|
| 6 Months | $ 1,000.00 | $ 5,000.00 | $ 6,000.00 |
| 1 Year | $ 2,000.00 | $10,000.00 | $12,000.00 |
| 2 Years | $ 3,000.00 | $15,000.00 | $18,000.00 |
| 3 Years | $ 4,000.00 | $20,000.00 | $24,000.00 |
| 4 Years | $ 5,000.00 | $25,000.00 | $30,000.00 |
| 5 to 10 Years | $ 7,500.00 | $30,000.00 | $50,000.00 |
| Over 10 Years | $10,000.00 | $40,000.00 | $75,000.00 |
PEOPLES TRANSPORT FEDERAL CREDIT UNION
INCOME-TO-DEBT RATIO SCORE ADJECTMENT: | |
| Ratios Calculated on Gross Income = 45% | No change to Score |
| OVERALL SCORE ** | TIER | SH REQ | RATE | TERM |
| 740+ | A | None | 3.99% | 60 months |
| 680-739 | B | None | 4.99% | 48 months |
| 640-679 | C | None | 8.50% | 36 months |
| 580-639 | D | None | 16.00% | 24 months |
| 550-579 | E | None | 17.00% | 18 months |
| 500-549 | F | None | 18.00% | 12 months |
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