City Lending
Build & Save Accounts
City Lending Build & Save accounts are the best way to grow savings while building a positive credit history. Build & Save accounts have shorter terms and maximize your monthly growth in savings.
Who are BUILD & SAVE Accounts designed for?
Build Credit & Targeted Savings
Build & Save accounts are designed for consumers that want to grow a target amount of savings in a specific timeframe. With Build & Save you can build:
- $1,000 or $2,000 of savings just in 24 months or
- $1,100 of savings in 36 months
Consider Your Goals
When selecting your account type, you should consider how important the savings element is to your goals. While Build & Save accounts accelerate your savings progress because of their shorter term, the shorter term may not positively affect your ‘Length of Credit History’ as much as other City Lending accounts. Length of Credit History impacts 15% of your FICO® Score.
Example: Depending on your objectives, you may be better off with a Subscribe account and keeping it open for five years vs getting five 12 month Build & Save accounts in a row.
Balanced Credit Building and Savings
Build your nest egg quickly while you build credit. While all City Lending accounts help grow savings each month, Build & Save accounts have shorter terms, so more of each payment goes towards your savings progress.
Decreasing Cost – Increasing Savings
With Build & Save accounts, every month your interest cost goes down and your savings progress accelerates.
The tables below illustrate interest expense vs. savings progress for Build & Save 1000 24 month, Build & Save 2000 24 month, and Build and Save 1100 36 month accounts.
Build & Save 1000 – 24 Months
One-time, non-refundable administrative fee: $38
Annual percentage rate: 15.51%
Build & Save 2000 – 24 Months
One-time, non-refundable administrative fee: $48
Annual percentage rate: 14.74%
Build & Save 1100 – 36 Months
One-time, non-refundable administrative fee: $96.00
Annual percentage rate: 15.73%
Build & Save 1000 – 24 Months
One-time, non-refundable administrative fee: $15.00
Annual percentage rate: 15.51%
| Monthly Payment | Monthly Savings Progress | Monthly Interest Expense | Cumulative Savings Progress | % of Payment Applied to Savings Progress | |
|---|---|---|---|---|---|
| Month 1 | $48.00 | $36.36 | $11.64 | $36 | 76% |
| Month 2 | $48.00 | $36.78 | $11.22 | $73 | 77% |
| Month 3 | $48.00 | $37.21 | $10.79 | $110 | 78% |
| Month 4 | $48.00 | $37.64 | $10.36 | $148 | 78% |
| Month 5 | $48.00 | $38.08 | $9.92 | $186 | 79% |
| Month 6 | $48.00 | $38.52 | $9.48 | $225 | 80% |
| Month 7 | $48.00 | $38.97 | $9.03 | $264 | 81% |
| Month 8 | $48.00 | $39.42 | $8.58 | $303 | 82% |
| Month 9 | $48.00 | $39.88 | $8.12 | $343 | 83% |
| Month 10 | $48.00 | $40.35 | $7.65 | $383 | 84% |
| Month 11 | $48.00 | $40.82 | $7.18 | $424 | 85% |
| Month 12 | $48.00 | $41.29 | $6.71 | $465 | 86% |
| Month 13 | $48.00 | $41.77 | $6.23 | $507 | 87% |
| Month 14 | $48.00 | $42.26 | $5.74 | $549 | 88% |
| Month 15 | $48.00 | $42.75 | $5.25 | $592 | 89% |
| Month 16 | $48.00 | $43.25 | $4.75 | $635 | 90% |
| Month 17 | $48.00 | $43.75 | $4.25 | $679 | 91% |
| Month 18 | $48.00 | $44.26 | $3.74 | $723 | 92% |
| Month 19 | $48.00 | $44.78 | $3.22 | $768 | 93% |
| Month 20 | $48.00 | $45.30 | $2.70 | $813 | 94% |
| Month 21 | $48.00 | $45.83 | $2.17 | $859 | 95% |
| Month 22 | $48.00 | $46.36 | $1.64 | $906 | 97% |
| Month 23 | $48.00 | $46.90 | $1.10 | $953 | 98% |
| Month 24 | $48.00 | $46.90 | $0.55 | $1,000 | 98% |
Build & Save 2000 – 24 Months
One-time, non-refundable administrative fee: $15.00
Annual percentage rate: 14.74%
| Monthly Payment | Monthly Savings Progress | Monthly Interest Expense | Cumulative Savings Progress | % of Payment Applied to Savings Progress | |
|---|---|---|---|---|---|
| Month 1 | $96.00 | $72.71 | $23.29 | $73 | 76% |
| Month 2 | $96.00 | $73.56 | $22.44 | $146 | 77% |
| Month 3 | $96.00 | $74.42 | $21.58 | $221 | 78% |
| Month 4 | $96.00 | $75.28 | $20.72 | $296 | 78% |
| Month 5 | $96.00 | $76.16 | $19.84 | $372 | 79% |
| Month 6 | $96.00 | $77.05 | $18.95 | $449 | 80% |
| Month 7 | $96.00 | $77.94 | $18.06 | $527 | 81% |
| Month 8 | $96.00 | $78.85 | $17.15 | $606 | 82% |
| Month 9 | $96.00 | $79.77 | $16.23 | $686 | 83% |
| Month 10 | $96.00 | $80.70 | $15.30 | $766 | 84% |
| Month 11 | $96.00 | $81.64 | $14.36 | $848 | 85% |
| Month 12 | $96.00 | $82.59 | $13.41 | $931 | 86% |
| Month 13 | $96.00 | $83.55 | $12.45 | $1,014 | 87% |
| Month 14 | $96.00 | $84.52 | $11.48 | $1,099 | 88% |
| Month 15 | $96.00 | $85.51 | $10.49 | $1,184 | 89% |
| Month 16 | $96.00 | $86.50 | $9.50 | $1,271 | 90% |
| Month 17 | $96.00 | $87.51 | $8.49 | $1,358 | 91% |
| Month 18 | $96.00 | $88.53 | $7.47 | $1,447 | 92% |
| Month 19 | $96.00 | $89.56 | $6.44 | $1,536 | 93% |
| Month 20 | $96.00 | $90.60 | $5.40 | $1,627 | 94% |
| Month 21 | $96.00 | $91.66 | $4.34 | $1,719 | 95% |
| Month 22 | $96.00 | $92.72 | $3.28 | $1,811 | 97% |
| Month 23 | $96.00 | $93.80 | $2.20 | $1,905 | 98% |
| Month 24 | $96.00 | $93.79 | $1.10 | $2,000 | 98% |
Build & Save 1100 – 36 Months
One-time, non-refundable administrative fee: $15.00
Annual percentage rate: 15.73%
| Monthly Payment | Monthly Savings Progress | Monthly Interest Expense | Cumulative Savings Progress | % of Payment Applied to Savings Progress | |
|---|---|---|---|---|---|
| Month 1 | $38.00 | $24.47 | $13.53 | $24.47 | 64% |
| Month 2 | $38.00 | $24.78 | $13.22 | $49.25 | 65% |
| Month 3 | $38.00 | $25.08 | $12.92 | $74.33 | 66% |
| Month 4 | $38.00 | $25.39 | $12.61 | $99.72 | 67% |
| Month 5 | $38.00 | $25.70 | $12.30 | $125.42 | 68% |
| Month 6 | $38.00 | $26.02 | $11.98 | $151.44 | 68% |
| Month 7 | $38.00 | $26.34 | $11.66 | $177.77 | 69% |
| Month 8 | $38.00 | $26.66 | $11.34 | $204.43 | 70% |
| Month 9 | $38.00 | $26.99 | $11.01 | $231.42 | 71% |
| Month 10 | $38.00 | $27.32 | $10.68 | $258.74 | 72% |
| Month 11 | $38.00 | $27.66 | $10.34 | $286.40 | 73% |
| Month 12 | $38.00 | $28.00 | $10.00 | $314.39 | 74% |
| Month 13 | $38.00 | $28.34 | $9.66 | $342.73 | 75% |
| Month 14 | $38.00 | $28.69 | $9.31 | $371.42 | 75% |
| Month 15 | $38.00 | $29.04 | $8.96 | $400.46 | 76% |
| Month 16 | $38.00 | $29.40 | $8.60 | $429.86 | 77% |
| Month 17 | $38.00 | $29.76 | $8.24 | $459.62 | 78% |
| Month 18 | $38.00 | $30.13 | $7.87 | $489.75 | 79% |
| Month 19 | $38.00 | $30.50 | $7.50 | $520.25 | 80% |
| Month 20 | $38.00 | $30.87 | $7.13 | $551.12 | 81% |
| Month 21 | $38.00 | $31.25 | $6.75 | $582.37 | 82% |
| Month 22 | $38.00 | $31.64 | $6.36 | $614.00 | 83% |
| Month 23 | $38.00 | $32.02 | $5.98 | $646.03 | 84% |
| Month 24 | $38.00 | $32.42 | $5.58 | $678.45 | 85% |
| Month 25 | $38.00 | $32.82 | $5.18 | $711.26 | 86% |
| Month 26 | $38.00 | $33.22 | $4.78 | $744.48 | 87% |
| Month 27 | $38.00 | $33.63 | $4.37 | $778.11 | 88% |
| Month 28 | $38.00 | $34.04 | $3.96 | $812.15 | 90% |
| Month 29 | $38.00 | $34.46 | $3.54 | $846.61 | 91% |
| Month 30 | $38.00 | $34.88 | $3.12 | $881.50 | 92% |
| Month 31 | $38.00 | $35.31 | $2.69 | $916.81 | 93% |
| Month 32 | $38.00 | $35.75 | $2.25 | $952.56 | 94% |
| Month 33 | $38.00 | $36.19 | $1.81 | $988.75 | 95% |
| Month 34 | $38.00 | $36.63 | $1.37 | $1,025.38 | 96% |
| Month 35 | $38.00 | $37.08 | $0.92 | $1,062.46 | 98% |
| Month 36 | $38.00 | $37.54 | $0.46 | $1,100.00 | 99% |
