Country Office Loans
Loans for International Employees
The IDB Global Federal Credit Union provides home improvement loans and automobile financing to Inter-American Development Bank (IDB) and IDB Invest international employees working outside the United States at a Country Office.
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5 reasons to apply
- Flexible options
- Personalized service in both English and Spanish
- Low-rate loans that cannot be found elsewhere
- Quick and simple application process
- No fee or penalty for pre-payment
take the first step!
To complete this Loan Application, you will need:
- A description of the vehicle to be purchased.
- Copy of most recent pay statement which includes deductions from salary.
REQUIREMENTS
Eligibility
Permanent or Fixed-term IDB or IDB Invest international employees working at Country Offices with two or more years of continuous service.
Maximum Loan for International Members
Up to 50% of employee's annual salary with a limit of $40,000.
Terms of Loan
Loan denominated and disbursed in U.S. Dollars with 7-year amortization schedule and payments in U.S. Dollars.
Interest Rate
Variable rate based on index of 1 year U.S. Treasury obligations. Your starting interest rate will be the index rate in effect at the time your loan is approved plus the required margin of 3.00%
Rate Adjustments
The interest rate will be adjusted annually on the first day of January. Adjustments will be limited to 2.00% per quarter with a maximum of 6.00% over the life of the loan.
Security
Irrevocable assignment of IDB or IDB Invest termination benefits to the Credit Union.
VISA Classic National
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Country Office Loans Rates
Effective as of 10/01/2024
| Repayment Term (months)* |
Interest Rate | Margin | |
|
International Employees
|
up to 84 | 8.125% | 3.00 |
Other Requirements
- Irrevocable authorization to IDB or IDB Invest to deduct loan payments from your salary and pay U.S. Dollars to the Credit Union.
- Property insurance for the amount financed with Credit Union listed as loss payee.
- Full repayment of loan if employment with the IDB or IDB Invest is terminated.