Skip to content
1st Source Bank Logo 1st Source Sign In
  • Personal
    • Banking
      • Online & Mobile
      • Checking Accounts
      • Savings Accounts
      • Credit Cards
    • Borrowing
      • Personal Loans
      • Home Loans
      • Auto Loans
      • Loan Calculators
    • Planning
      • Certificates of Deposit
      • Investing
      • Wealth Management
      • Personal Insurance
    • Help & Support
      • LEARN MORE
        • Help Articles
        • Advice Articles
        • FAQ
        • View All
      • GET IN TOUCH
        • Talk With Someone: (574) 235-2000
        • Toll Free: (800) 513-2360
  • Business
    • Banking
      • Mobile & Online
      • Checking Accounts
      • Business Credit Cards
    • Borrowing
      • Business Loans
      • Business Leasing
      • Industry Loans
    • Services
      • Treasury Services
      • Retirement Plan Services
      • Insurance
      • Wealth Management
      • Merchant Card Services
    • Help & Support
      • LEARN MORE
        • Help Articles
        • Advice Articles
        • FAQ
        • View All
      • GET IN TOUCH
        • Business Banking Online Support: (800) 399-5592
        • General Guidance: (574) 235-2003
  • You 1st
    • Financial Education
    • Advice
    • Calculators
      • Personal Calculators
      • Business Calculators
    • Community
  • Locations
  • About
  • Contact
  • Search
Sign In
Help & Support

Loans

Credit Builder Loan

Share:

Facebook Icon Facebook Twitter Icon Twitter Linkedin Icon Linkedin
Three friends with bikes on bridge, giving each other high-five.

Is it time to give yourself some credit? A Credit Builder Loan with 1st Source Bank can help you establish credit and save money at the same time. It’s an excellent way to get started on the road toward better financial security.

How does it work?

You receive a loan for a certain amount of money, let’s say $1000.

Instead of receiving the money right away and then making payments, it is placed into an account, and you make payments until you’ve equaled the amount of the loan. Then, you can access the money.

Your payments are reported to credit agencies just like a regular loan, helping you establish or build your credit score. When all the payments are made you will also get credit for paying off a loan.

Key Points to Consider

How would one help you?

  • You build credit & save money
  • Designed to fit your budget
  • Receive your money after final payment

What is a credit score?

  • A number between 300-850
  • A higher number means better credit
  • Based on credit activity, payment history, debt, and status of accounts

Why Does Good Credit Matter?

  • Helps you get a loan, mortgage, credit cards
  • You can get lower interest rates
  • Employers may use it when hiring
  • Can lower fees for insurance or a lease

Get the Credit you Deserve

Call us about a Credit Starter Loan at 855-235-4440 or apply now.

I’d like more information on Credit Starter Loans from 1st Source Bank.

Subject to credit approval. A 1st Source checking account is not necessary to apply but must be opened prior to closing on your loan.

Related Articles

  • Jul 22nd, 2022 Boosting Your FICO Score
  • Jul 19th, 2022 Building an Emergency Fund: The 1st Step to Financial Freedom
  • Jul 19th, 2022 Get the Credit You Deserve
  • About 1st Source
  • Careers
  • Investor Relations
  • Success Stories
  • 1st Source Foundation
  • News
  • Help & Support
  • FAQ
  • Report Fraud
  • Security
  • Get In Touch
  • Contact
  • Locations
  • 1st Source Bank Routing Number
  • 071212128
  • Facebook Icon Facebook
  • Twitter Icon Twitter
  • Linkedin Icon Linkedin
  • Youtube Icon Youtube
  • Instagram Icon Instagram
Member FDIC, Equal Opportunity graphics
  • Privacy
  • Disclosures
  • Terms of Use
  • Sitemap
  • Accessibility

2023 © 1st Source Bank. All rights reserved. Built by Clique Studios