Rewards ProgramRewards Program

BIG BORROWER AWARDS

By participating in DOY's secured borrowing programs, you can save big on getting a very low signature loan rate on DOY's Big Borrower Loans. To qualify for a Big Borrower's Signature Loan, you must have an active mortgage or secured loan that had an initial loan amount of $5000 or more. All mortgage loans and most auto loans would qualify for the Big Borrower's Loan.

The more you use DOY, the lower the interest rate on this loan. Big Borrowers currently receive a special lower rate but depending on how many other programs you use, the rate can go even lower.


DOY Rewards Program

HERE'S HOW THE PROGRAM WORKS:

Points are assigned to the program or programs used (0.10% is equal to 10 points). This determines the amount to deduct from the Big Borrower Signature loan rate.

**Mortgage > $10,000 but < $20,000
25 pts
**Mortgage > $20,000 but < $75,000
50 pts
**Mortgage > $75,000
75 pts
Checking Account
50 pts
Savings (yr avg) > $20,000
50 pts
Savings (yr avg) > $10,000 but < $20,000
25 pts
Club Member lyr avg > $500 (e.g. Xmas)
20 pts
*Auto Loan 
(current or previous) > $10,000

25 pts
*Auto Loan 
(current or previous) > $25,000

35 pts

As an example, you have a checking account (50 pts) and have a mortgage loan that originally had a balance over $75,000 (75 pts). Your savings account average over the past year is over $20,000 (50 pts) and you have a car loan that the initial amount borrowed was over $10,000 (25 pts). This gives you a total of 200 pts. That's a 2.00% interest reduction off the "Big Borrowers's Signature Loan!" Currently, the Big Borrower rate is 6.49%. Using the example above, you would qualify for 4.49% rate. How about paying off a credit card balance with that rate!

*If you have had more than one car loan over the past 10 years, the two highest loans would be used.

**If you have had more than two mortgages from two different houses over the past 10 years, both loans would be used. 1st and 2nd mortgages can be added to obtain the higher reward. Mortgages paid off early by 60 or more months can not be used in the Award's Program.

*** The lowest reward rate you can earn is 3.50%. Rewards are not transferrable to another account even if you are a joint owner on another family member's account.

AWARDS PROGRAM FOR CAR LOANS

The awards program for Big Borrower's is also extended to all members applying for used or new cars. This is just another way DOY rewards their members who use DOY for their financial needs.

**Mortgage > $20,000 to $75,000
25 pts
**Mortgage >$75,000
50 pts
Savings (yr avg) over $20,000
50 pts
Savings (yr avg) > $10,000 but < $20,000 
25 pts
Checking Account
25 pts
Club Member lyr avg > $500 (e.g. Xmas)
20 pts
*Auto Loan 
(current or previous) > $10,000

25 pts
*Auto Loan 
(current or previous) > $25,000

35 pts

With this program you could reduce your car loan rate significantly by being a loyal DOY borrower or saver.

For example assuming, you have a checking account (25 pts), a saving average of $20,000 (50 pts), 2 prior car loans over $10,000 (50 pts), Club member (20) 

Currently a new car loan for 60 months is 4.99%.
With the rewards program the rate would be 3.54%!!!