Funds Held

Funds Held

Combining an interest-generating account with a term-loan at GreenStone gives you convenience and flexibility managing your future financial obligations related to your loan. Similar to a savings account, Funds Held gives you the ability to pay future financial obligations related to your loan, such as principal and interest payments, or for the payment of insurance premiums, taxes, or other related items. Additionally, money can be used for new purchases rather than increasing your existing loan amount.
  
Through the Funds Held program, your funds in the account generate an estimated rate of 3 percent below the related loan interest rate. The balance in your Funds Held account can not exceed the principal of the existing loan.
  

Benefits:

  • Interest generating account
  • Helps manage future payments
  • Easy to access funds
Current Loan Value: $100,000    $20,000 x 1.5% = $300
Current Interest Rate: 4.5%    Balance Deposited in Funds Held    Interest Rate Return    Income Generated Through Funds Held in One Year