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Coastal FCU Personal Loans Calculator & Overview

Carla Soto
Updated 19 Aug 2023
Fact checked

Coastal FCU logo

Coastal Federal Credit Union was founded in 1967 to meet the financial needs of the local IBM community in Raleigh, North Carolina. This non-profit financial cooperative offers personal and business banking solutions, which include checking and savings accounts, HELOCs, credit cards, mortgages, and auto loans. Applicants for Coastal FCU personal loans can either go through an online application or visit any of their nine branches in North Carolina.

There’s no doubt that deciding to get a loan is a big decision. You have to verify if you have the means to make set payments and meet those payment deadlines. Coastal Federal Credit Union offers affordable personal loan options to help you get closer to your goals. Want to make sure if it fits into your monthly budget? Use the Coastal FCU personal loans calculator to help you determine how much your monthly payment will be and how much interest you’ll pay overall.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

A quick guide to personal loans from Coastal Federal Credit Union

Coastal Federal Credit Union can provide a loan for any worthwhile purpose. Eligible borrowers can enjoy competitive rates to reduce their monthly repayments. Funds can be used for planned or emergency expenses including medical bills, a vacation, car repairs, or opening a new business. Final rate may vary and is determined by your credit qualifications, amount financed, collateral and loan terms.

Coastal 24, like any other lender, has its own set of loan features and benefits. Check out this list so you can figure out if it can help you bank better:

  • Loan amount: from $250 to $60,000
  • Repayment term: between 6 months and 10 years
  • Loan option: No collateral required
  • Interest rates: as low as 6.99% APR for terms up to 5 years ; finance up to 10 years, with rates as low as 8.40% APR

Requirements for a Coastal FCU personal loan

A Coastal FCU personal loan is exclusively for members. You are eligible to apply for membership if:

  • You are an immediate family member of a Coastal FCU member
  • You are an employee in any of the eligible associations, organizations, and businesses of Coastal FCU
  • You live, work, worship, or go to school in any of the recognized North Carolina counties

Coastal FCU did not provide a list of criteria for anyone wishing to apply for its personal loan products. However, most lenders expect borrowers to meet the following requirements:

  • Be 21 years of age or older
  • Be a US resident
  • Have a good credit standing to get higher loan amounts or lower interest rates
  • Provide proof of employment or steady source of income (paystubs, tax returns, bank statements)

 

Coastal FCU personal loan calculator

Loan Amount

$20,000

Term

3 months

Coastal FCU

Coastal Federal Credit Union personal loans (Personal Loan)

Estimated Month Repayments
Interest Rate
5.99%
APR
Repayment Period
12 months
to 120 months
Loan Amounts
$1,000
to $60,000
We can provide a loan for any purpose you can imagine
Coastal FCU

Coastal Federal Credit Union personal loans (Personal Line of Credit)

Estimated Month Repayments
Interest Rate
7.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$5,000
to $25,000
We can provide a loan for any purpose you can imagine
Coastal FCU

Coastal Federal Credit Union personal loans (Overdraft Line of Credit)

Estimated Month Repayments
Interest Rate
7.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$5,000
to $20,000
We can provide a loan for any purpose you can imagine
Coastal FCU

Coastal Federal Credit Union personal loans (Share/Certificate Secured Loan)

Estimated Month Repayments
Interest Rate
29.90%
APR
Repayment Period
1 month
to 80 months
Loan Amounts
$5,000
to $20,000
We can provide a loan for any purpose you can imagine

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

Pros and cons of Coastal 24 personal loans

Pros

  • A wide range of loan amount
  • Various terms can be adjusted to fit your budget
  • Loans are available even for those without high credit score
  • Easy online or in-person application
  • No collateral

Cons

  • Non-members cannot apply
  • No specific information about loan requirements
  • Applicants with low credit score may not qualify for the lowest rate available

Frequently asked questions

How much can I borrow from Coastal FCU?

You can borrow between $250 and $60,000 from Coastal FCU.

What are the repayment terms for a Coastal FCU personal loan?

Coastal FCU offers personal loan terms between 12 and 120 months.

What is the interest rate on a personal loan from Coastal FCU?

Interest rates for a Coastal FCU personal loan start at 6.99% for terms up to 5 years and at 8.40% for terms up to 5 years.

How can I qualify for the lowest rate and maximum terms possible?

Final rate for a Coastal FCU personal loan is determined by your credit qualifications, amount financed, and loan terms. Maximum terms are based on loan amount and credit qualifications.

Will the credit bureaus receive information about my loan and on-time payments?

Yes, Coastal Federal Credit Union will provide credit bureaus with information about your loan and payment history. Your credit reports contain information about every account you’ve opened in the last few years with a credit card company, bank, or other creditor. Learn more about what’s included in your credit report before finalizing your loan application.


Video: Coastal FCU – Your financial plan in 3 simple steps

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Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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