Unlike a traditional loan, a credit builder account does not allow you to immediately withdraw the money upfront. Instead, your 12-month or 24-month loan is immediately placed into a FDIC-insured, 12-month or 24-month certificate of deposit (“CD”) account. The CD account is held in your name at Sunrise Banks, N.A., Lead Bank or Atlantic Capital Bank, NA. These funds are locked and not available for withdrawal until the loan is paid in full.

For example, if you have a $1,000 credit builder account that started on today with a 12-month term. Your CD would mature on 12 months from today with $1,001.00.

The credit builder account is designed to help you help yourself save money and establish credit history in a safe, responsible way. If you need access to money immediately, you should consider contacting a traditional lender.

Once an account has been completed, funds will typically arrive in 10-14 business days to the payout method you have selected.

Please see this article for information about early repayment of the loan.