Best Credit Builder Loans in Rhode Island
Published: 6 July 2024
Author: Noah Gomez
In Rhode Island, we looked at over 5 banks, credit unions, and online providers to find the most cost-effective and quality options in the market.
Though few, RI's credit builders offer extremely favorable terms compared to many other states.
Best Overall
Rhode Island Credit Union
Avg. Principal: [100% of savings + $1,000] / 2
Avg. APR: 3%
Avg. Length: 24 months
At 3%, RI credit union's credit builder APR is far below the national average of 7%+. It's available in durations ranging 12 - 24 months in amounts as small as $1,000, which is extremely flexible.
Best from Bank (Physical)
BMO Bank
Avg. Principal: $1000
Avg. APR: 12.24%
Avg. Length: 42 months
Best from Credit Union
Rhode Island Credit Union
Avg. Principal: [100% of savings + $1,000] / 2
Avg. APR: 3%
Avg. Length: 24 months
Best from Digital Lender
Cambio
Avg. Principal: $300
Avg. APR: %
Avg. Length: 12 months
Best Rhode Island-Only Credit Builder Loans
Best Multi-State Credit Builder Loans Available in Rhode Island
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