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Match Your Savings Rate to
Your Auto Loan Rate
 Do you feel like you just can’t save? Now, with SESLOC’s Sunny Day program, you can pay yourself first every time you pay your auto loan … and earn the same rate you’re paying on your loan!*
When you take out a new or used auto loan, simply sign up for automatic loan payments and payroll deduction or direct deposit to a Sunny Day Add-On Certificate. The amount you choose to save is added to your monthly loan payment and deposited to your certificate each time the loan payment is made.** Your certificate will earn the same rate you pay on your auto loan,* and your certificate matures when you make your final loan payment.
You’re in the Driver’s Seat
It’s the easy way to build good savings habits. When you see how regularly paying yourself first with a modest amount pays off, you’ll want to continue saving even after your Sunny Day Certificate matures. And to give you peace of mind, SESLOC will waive early withdrawal penalties if you need the money in your certificate to pay for major repairs to the vehicle.
Get a great rate on an auto loan and
put yourself on the road to savings
with SESLOC’s Sunny Day program.
For complete details, visit the branch nearest you, call us at (805) 543-1816 or (805) 227-1030, or visit us online
at www.sesloc.org.
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Pick Up Your Pace on Savings |
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Here's an example of how your savings can
add up as you pay off your auto loan:* |
|
| Your Loan |
|
Loan Amount |
$12,000 |
Loan Rate |
4.75% APR** |
| Monthly Payment |
$225.08 |
| Your Savings |
|
Monthly Deposit
|
$22.51 |
| Savings Rate |
4.75% / 4.85% APY** |
Total Monthly Deduction:
($225.08 + $22.51) |
$247.59 |
| Balance After... |
|
| 36 Months |
$880.63 |
| 48 Months |
$1,199.46 |
| 60 Months |
$1,533.77 |
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