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Premier America Personal Loans Calculator & Overview

Carla Soto
Updated 10 Aug 2023
Fact checked

Premier America Credit Union logo

Premier America Credit Union was established in 1957 and is headquartered in Chatsworth, California. Premier America has assets of $3.4 billion, and members of more than 115,000. Their offerings and services include savings, checking, CDs, loan products, mortgage, and refinancing.

Personal loans can be extremely advantageous under the right circumstances – whether to build credit, start a business, pay off high interest debt, or take care of unexpected expenses. If you’re considering applying for a personal loan from Premier America, use the Premier America personal loans calculator to see what your monthly payments would be.

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.

An overview of Premier America personal loans

Before taking out a loan from Premier America, find out about its features and benefits. This will help you compare it with those from other lenders. The list below will show if they correspond to what you’re looking for in a personal loan:

Read on to find out about the key features and benefits of a personal loan from Premier America:

  • Loan amounts: $500 minimum
  • Loan terms: up to 60 months
  • Interest rates: starting at 8.49% APR

Requirements for a Premier America personal loan

A Premier America personal loan is only available to current members and employees. If you are not yet a member, there are different ways to join. Membership is available to anyone who:

  • Lives, works, worships, or attends school in Premier America recognized counties
  • Is a family member of a Premier America member
  • Is a current or former employee of Premier America recognized establishments, businesses, or institutions

Premier America did not provide a list of all the borrower criteria. However, most lenders expect potential applicants to meet the following qualifications:

  • Proof of identity: Submit a copy of government-issued IDs such as driver’s license, passport, or birth certificate to prove that you are at least 18 years old and with a permanent US address.
  • Capacity to pay: For employed individuals, submit pay stubs or employer contact information; for self-employed individuals, submit bank statements or tax returns.
  • High credit score: The minimum is at least 600; ideally, a score of 700 is better.
  • Low DTI ratio: It should be lower than 40% although some lenders will approve those with a debt-to-income ratio of up to 50%.

 

Premier America personal loan calculator

Loan Amount

$20,000

Term

3 months

Premier America

Premier America personal loans

Estimated Month Repayments
Interest Rate
28.90%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$500
to $30,000
From overdraft protection to extra cash when you need it, Premier America offers personal loans and lines of credit designed with you in mind.

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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 Premier America personal loans

Pros

  • Can borrow as low as $500 for personal expenses
  • Lower interest rate compared to other banks
  • Longer repayment terms

Cons

  • No option to submit online application
  • No information on borrowing limits
  • No information on minimum loan term
  • No information on maximum loan rate
  • Income/credit requirements are not listed

Frequently asked questions

How much does Premier America offer for its personal loans?

Qualified borrowers of a Premier America personal loan can receive funds as low as $500.

What are my options for repaying the full loan amount from Premier America?

The loan from Premier America can be repaid for a maximum period of 5 years.

What are the potential rates for a personal loan from Premier America?

Potential rates for a Premier America personal loan can start from 8.49%.

If I have a low credit score, will I still be eligible for a loan from Premier America?

Approval for a Premier America personal loan is based on your creditworthiness and proof of capacity to pay. If you have a low credit score, work to improve it so you can get the best deal that will help you achieve your financial goals.

What number do I need to call to ask about personal loans from Premier America?

You can call 800.772.4000 to find out more about Premier America personal loans.


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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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