Boost you Credit and Your Future!
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Our CD secured Credit Builder Loan helps you grow savings safely while strengthening your credit profile.
Take charge of your financial journey.
How it Works
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1. Easy Application Process
Apply for a Credit Builder loan with Sonata Bank.
Designed to assist you in building or repairing credit and payment history.
2. Setting Up Your Loan
Sonata will then place the $500 loan with a fixed 12-month term in an interest-earning Certificate of Deposit that is secured by Sonata Bank.
3. Payment Process
Payments are fully amortized over the 12 months, meaning equal monthly payments that gradually pay down both principal and interest.
After payments are complete, you'll be able to access the loan amount plus any earned interest.
How it Helps You
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1. Build or Rebuilding Your Credit
By making on-time monthly payments, your positive repayment will help establish or strengthen your credit score.
2. No Credit Score Needed
You don’t need a perfect credit score to move forward. This allows you to access opportunities without the traditional barriers, making it easier to qualify and start building the future you deserve.
3. Save While You Borrow
Because the loan is secured by a Sonata Bank Certificate of Deposit (CD), you’ll have money saved at the end of the 12-month term, creating both credit growth and financial security.
4. Boosting Your Financial Future
Completing the loan successfully helps position you for better loan opportunities, lower interest rates, and greater financial flexibility down the road.
Smarter banking starts at Sonata Bank because we give you the tools to grow and manage your money anytime, anywhere.
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Explore our flexible checking and savings options, including Rewards Checking and Certificates of Deposit, designed to help you grow and protect your finances. Plus, you can enjoy the convenience of our online tools that let you track spending, pay bills, transfer funds, and reach your goals with confidence.
Whether you’re looking for your everyday banking or building toward the future, Sonata Bank is here to help. Become a customer today and discover banking built around you!
Already an account holder? Enroll in digital banking now!
Not a customer yet? Open your account online.
The Sonata Bank Credit Builder Loan is subject to credit approval. Interest rates are subject to change without notice. Certain conditions apply. This is not a commitment to lend or a rate guarantee. The simple interest rate for the Credit Builder Loan is 9.99% with a $25 origination fee paid at closing for an Annual Percentage Rate of 19.30%. A representative example for a 12-month term at the maximum loan amount of $500 would have an estimated monthly payment of $46.15. This is an estimate only and assumes all payments are made on time. Results are not guaranteed. Building a credit profile is dependent on the borrower's specific situation and financial behavior. Failure to make monthly minimum payments by the payment due date each month will result in negative reporting on your credit report. Negative credit history will not be removed from your credit report as a result of this program. This program is not for credit repair. Subject to approval. The total interest charged on the loan may be more than the total interest paid on the CD. CD Funds must stay on deposit for the life of the loan. Once the loan is paid on time and in full, the Certificate of Deposit securing the loan, plus any interest earned, will be paid to the borrower. Please contact your Sonata banker for more details.