Bowater Credit Union Personal Loans
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| APR (Variable APR) |
12.24% - 18.00% (Verified 10/03/2023) |
| Loan Amount | Up to $25,000 |
| Loan Term (Months) | 3 - 60 months |
Bowater Credit Union Personal Loans Review
Bowater Credit Union Personal Loans is offered by Bowater Credit Union, a credit union founded in 1954 and based in Calhoun, TN. Bowater Credit Union Personal Loans are available in 50 states (and Washington, DC).
Key Takeaways
- Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging. Personal loan interest rates typically range between 5% and 36%. The starting rates for Bowater Credit Union Personal Loans are on the higher end of the market.
- Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Bowater Credit Union Personal Loans early.
- Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Bowater Credit Union Personal Loans.
- Short loan terms. Bowater Credit Union Personal Loans have loan terms as short as 3 months.
Bowater Credit Union Personal Loans Pros & Cons
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Bowater Credit Union Personal Loans FAQ
What interest rates and personal loan terms does Bowater Credit Union Personal Loans offer?
Bowater Credit Union Personal Loans has higher than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Bowater Credit Union Personal Loans offer?
Bowater Credit Union Personal Loans offers a variable APR personal loan product that ranges from 12.24% APR up to 18.00% APR.
What is the maximum loan term you can get with Bowater Credit Union Personal Loans?
Bowater Credit Union Personal Loans offers loans with terms of up to 60 months.
| Personal Loan Amount | up to $25000 |
| Loan Term | 3 - 60 months |
| APR | 12.24% - 18.00% |
What fees does Bowater Credit Union Personal Loans charge?
Does Bowater Credit Union Personal Loans charge an origination fee?
Bowater Credit Union Personal Loans may charge a personal loan origination fee.
Does Bowater Credit Union Personal Loans charge a late fee?
No, Bowater Credit Union Personal Loans will not charge you a late fee if you miss one of the monthly payments.
Does Bowater Credit Union Personal Loans charge prepayment fees?
No, Bowater Credit Union Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | No |
| Prepayment Fee | N/A |
| Late Payment Fee | No |
What do you need to qualify for Bowater Credit Union Personal Loans?
Bowater Credit Union Personal Loans does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.Bowater Credit Union Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Bowater Credit Union Personal Loans only considers borrowers who are employed. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Bowater Credit Union Personal Loans. Their rates fall within the limits of The Military Lending Act.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Bowater Credit Union Personal Loans.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Driver's license
- Proof of identity
- Proof of citizenship or residence permit
| Minimum Age | 18 |
| Bank Account Required? | No |
| Application Types Accepted |
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| Credit Score | N/A |
Are Bowater Credit Union Personal Loans legit?
Bowater Credit Union was founded in 1954, it is a well-established company that has been in business for 69 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
Contact
- Headquarters
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5123 US-11
PO Box 359
Calhoun, TN 37309 - (866) 285-4215
- Visit Site
- Email Support
Other Services by Bowater Credit Union
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| Employment Statuses Considered |
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| Immigration Status Considered |
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| Joint Loan Applications Accepted |
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| Military Status |
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| Minimum Age | 18 |
| Supported Income Types |
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| Verification Documents Required |
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