About the Program
Colonial Transfer
Has been helping people save time and money on their loans for nearly 20 years. We've enrolled thousands of customers in the Bank administrated Plan to help accelerate their loans and make payments more manageable and convenient. This Plan is designed to put you in a better equity position and make your payments easier to manage.
Bi-weekly payments accelerate your loan:
This program will reduce the principal balance at an accelerated rate by making additional payments throughout the life of the loan, which will increase the equity in your investment.
Our Payment Plan will automatically pull from any savings or checking account to be sent directly to your lender. All you have to do is sit back, relax, and we'll do all the work!
Traditional Monthly Payments
Monthly Payment
$750
Total Interest: $9,515
Months to Pay Off
73
*This example does not include fees for service. Please refer to your contracts for pricing and fees.
Bi-weekly payments with Colonial Transfer
Bi-weekly Payment
$360
Total Interest: $8,508
Months to Pay Off
66
Total potential savings
+$1,007 in interest
+ 7 months saved on your loan!
Smarter payments, more savings!
When you use Colonial Transfer’s accelerated payment service, you eliminate debt faster and increase the equity in your investment.
PLUS! Our BOOST option gives you even more autonomy in your loan payments, increasing your payment on a one-time or regular basis that you can cancel anytime!
How it works
Simply select where funds are debited from on the date you choose. Colonial Transfer’s Bank Administrator will then debit your account on the cadence you choose. Colonial Transfer’s service is administered thru an FDIC-insured bank.
Our system ensures that the bank applies your additional payments quickly, reducing your debt faster, while building equity at an accelerated rate and limiting the amount of interest paid.
Pay off loans Faster
Match payments To paycheck
Simplify Budgeting
Improve asset Equity
Disclosure of Changes, Payments, Asset Equity, & Equity Acceleration: Change of dates and/or any schedules of payment changes can affect the shortening of Terms, savings, or other program benefits. Payments under the Plan are remitted from Consumers every two weeks for budgetary convenience and one extra payment benefit per year after all fees are paid.
Payments to lenders may be paid in one full payment versus bi-weekly.