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Ridgewood Savings Bank

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Wealth Management

Consumer Loans

Loan Type Max. Loan Amount Rate APR* Term
Overdraft Line of Credit $2,500.00 14.00% 14.00% 24 Months
Secured Overdraft Line of Credit Balance in Savings Account up to $7,500 5.50% 5.50% 24 Months
Credit Builder Loan $500 - $2,000 5% above the Savings rate at time of closing 12 - 24 Months
Secured Loans** 75% of the balance in your Savings or CD Account, however, the loan may not exceed $40,000 3% above the Savings/CD account interest rate on the day you borrow the money 6 - 36 Months

Rates are effective as of 1/1/24

Learn more about Secured Loans Learn more about Credit Builder Loans Learn more about Overdraft and Secure Overdraft Lines of Credit

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*Annual Percentage Rate (APR)

**Not available on Money Market and Smart Move Online Savings Accounts. The loan must be paid in full on or before the maturity date of the CD. Savings and CD loans cannot be secured on an IRA, Custodial or Guardian account.

Loan products and services subject to credit approval. Rates and terms are subject to change without notice.