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
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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.
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.
Maximum Loan for Local Staff
Up to 75% of the termination benefits or 50% of employee's annual salary (whichever is less). The maximum loan is calculated based on verification of termination benefits and salary provided by HRD payroll.
Terms of Loan
Loan denominated and disbursed in U.S. Dollars with 7-year amortization schedule and payments in U.S. Dollars.
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%
The interest rate will be adjusted annually on the first day of January. Adjustments will be limited to 2.00% per year with a maximum of 6.00% over the life of the loan.
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 01/01/2023
|up to 84||7.625%||3.00|
- 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.