CLAIM YOUR
Savings Incentive!
How It Works
The Savings Incentive Bonus Program
After you pay off your loan, you may be eligible to earn a savings incentive bonus
equal to one monthly payment on your original loan amount.
For example, if your loan was $2400, you could earn a $200 bonus.
Follow the steps below to apply for your Savings Incentive Bonus today!
Savings Incentive Program Overview
This program encourages savings after loan repayment, helping borrowers build financial security. You have the opportunity to leave the program with up to $800 in your savings account.
- Application Process: Borrowers must provide information for both a personal checking and savings account.
- Loan Disbursement: Loan funds are deposited into the checking account, with monthly repayments automatically deducted.
- Transition to Savings: After repaying the loan, an amount equal to the monthly loan payment will be automatically transferred from your checking account to your savings account for three months on the same day as your previous payments. If your savings account has changed, log into the borrower portal to update information. You may also update the date of your monthly transfer.
- Savings Incentive Bonus: After three successful transfers, borrowers earn a bonus equal to 10% of their original loan amount, which is deposited into their savings account.
- Program Completion: All payments cease after the bonus transfer.
- Opt-Out: Borrowers can opt out of this feature before automatic payments start via a special request on the loan platform. For information on opting out visit the FAQs.
After receiving your bonus, the program ends and the automatic transfers are discontinued. We encourage you to continue the behavior of intentional savings by setting up the same automatic transfer with your bank. Questions? Contact loans@communityimpactfund.org
Questions? Contact loans@communityimpactfund.org.