An unsecured personal loan is a loan built for life’s surprises.
It’s when you find out you need a new heat pump or a new transmission for your car. Or when some other unexpected life event comes up and you need to access funds to bridge the gap between what you have and what you need, without getting stuck with a high-interest rate credit card.
Use Our Loan Calculator
A good place to start with personal loans is to use our Loan Calculator and play around with different scenarios.
How an Unsecured Personal Loan Works
A personal loan that’s unsecured means the loan is supported only by the borrower's creditworthiness, rather than by any type of collateral. Examples of collateral would be a large asset like a car or house.
An unsecured loan means you don’t need property as collateral for the loan but because this is higher risk type of loan, since the bank has nothing to guarantee it be covered in case of a default, you usually need a high credit rating to be approved for certain unsecured loans.
Also, because of the higher risk, interest rates are usually higher on personal loans.
Central Willamette Personal Loan Features
- Our unsecured personal loan has no annual or application fee.
- You can borrow up to $25,000 at a fixed interest rate.
- And you have up to 60 months to repay the amount.
Frequently Asked Questions
A: Yes, at Central Willamette we understand that it may be convenient to skip a payment on your loan(s) from time to time. We are pleased to be able to offer a skip payment program that allows you to do just that. To apply for a skip payment, simply complete the skip payment form and either mail it to us or drop it off at one of our branch locations. The form must be completed, signed by all borrowers/signers and returned to Central Willamette 5 days prior to the due date for your skip payment request to be considered. You will be charged a skip payment fee for each loan. This offer is not available on Payday, Real Estate, Personal Line of Credit, Home Equity Line of Credit, and Business Loan payments. Loans must be current and have no delinquent history in the last 12 months. Interest will continue to accrue on your loan(s) when you skip a payment. Maximum skip payments allowed are 2 within 365 days.
A: We currently do not offer the option to make your loan payment online with a debit card. You may mail us a check, send us a payment from your other financial institution through their bill pay service (if available), contact us to set up automatic ACH payments or come into a branch and pay with cash, check, or debit card. If you come in to pay with a debit card, if will be processed as a cash advance. You can make a payment over the phone with a check or debit card, however there is a fee for that service.
A: Yes, you may make your loan payment online from your Central Willamette account(s) by logging into Online Banking and clicking on Funds Transfer.
Get Started Today
You can either apply online or come in and talk to one our loan specialists who can help talk you through your options so you get the loan you need.